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Real Estate
Reply to "Who can afford 800K-1M homes? Genuine Curiosity!"
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[quote=Anonymous]SH is a scientist and I work in communications -- HHI is over $200K but nothing astronomical. The thing that really helped us was our timing in the housing marked. Bought first house for $206K in 2000 with $10K down that DH's parents gave us as a gift. We had saved nothing towards a down payment as we were paying off student loans prior to 2000. That house sold just three years later for...$405K! We put a ton of low cost, high "visual value" surface improvements into the house...lots of elbow grease but very little money. Next house, 2005, price: $525K. Made tons of surface improvements to this house, too (nothing too expensive but it looked much, much better when we sold it). Then had two kids, needed to move for schools. Market was beginning to tank. Sold for $611K in mid-2010 and took on pretty hefty mortgage (~$600K) for our current $810K house in great school district. [/quote]
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