How does a single person buy a house around here

[Anonymous]

Anonymous wrote:There is a difference b/t affording something and buying something. Unless you have major savings and absolutely no bills, you can't afford a $1.5m house without making significant sacrifices in other parts of your life. $300k is not a lot of money. It's not bad, but it's not great.

It’s a huge amount and they can afford a house.

[Anonymous]

Seems nobody’s giving a direct answer to your question yet.
Family with a median income may be able to afford a median house, but top 2% income definitely cannot afford a top 2% house. It’s for the top 2% wealth, and wealth inequality in this country/area is much worse than income inequality.
Without a trust fund from boomer parents who already own 3 houses, it’s indeed hard to afford a decent house even with top 2% income. And the experience last 15years from those starting small and upgrade may no longer be applicable in current economy.

[Anonymous]

Anonymous wrote:Are you planning to have children? Without needing a good school district, you should have lots of options. Where do you want to be? What’s a decent house? Most people with dual incomes and kids don’t have million dolllar houses, but we manage.

I love how audacious you DCUM closet racists are. "Good school district" (wink, wink) for me, shithole slums for thee (bachelor OP).

[Anonymous]

Anonymous wrote:My late 20’s year old cousin bought a 1.5 million dollar home. He rents out rooms and a granny flat the house has to other co-workers in their late 20’s.

Your cousin is a ****ing boss. I’d be on such a power trip if I was the landlord of my similarly aged coworkers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Are you planning to have children? Without needing a good school district, you should have lots of options. Where do you want to be? What’s a decent house? Most people with dual incomes and kids don’t have million dolllar houses, but we manage.

I love how audacious you DCUM closet racists are. "Good school district" (wink, wink) for me, shithole slums for thee (bachelor OP).

Knock off the faux outrage. There's nothing racist about the pp's post. OP doesn't have kids so she doesn't need to pay $$$ for a good school district. That's all pp indicated and there's nothing racist about that.

[Anonymous]

They say at age 30 you should have one years salary saved up. At age 40, you should have three years of salary saved up.

Are you saving your money?

[Anonymous]

Easy. Save for a few years for minimum down payment. Then take out a mortgage with whatever property you choose to buy. Yes, it is that simple.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are you planning to have children? Without needing a good school district, you should have lots of options. Where do you want to be? What’s a decent house? Most people with dual incomes and kids don’t have million dolllar houses, but we manage.

I love how audacious you DCUM closet racists are. "Good school district" (wink, wink) for me, shithole slums for thee (bachelor OP).

Knock off the faux outrage. There's nothing racist about the pp's post. OP doesn't have kids so she doesn't need to pay $$$ for a good school district. That's all pp indicated and there's nothing racist about that.

Bullshit it’s not a racist and smug thing to say. We all know darn well what “good school” means and it’s far from just being about the school and the median SAT score. It’s a day to day quality of life and safety thing. Y’all would never recommend your own single daughter, niece or granddaughter live in a dangerous shitty “bad school” area but it’s so easy to type such a fake suggestion on a message board — while you live in a cozy safe area with “good schools”.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are you planning to have children? Without needing a good school district, you should have lots of options. Where do you want to be? What’s a decent house? Most people with dual incomes and kids don’t have million dolllar houses, but we manage.

I love how audacious you DCUM closet racists are. "Good school district" (wink, wink) for me, shithole slums for thee (bachelor OP).

Knock off the faux outrage. There's nothing racist about the pp's post. OP doesn't have kids so she doesn't need to pay $$$ for a good school district. That's all pp indicated and there's nothing racist about that.

Bullshit it’s not a racist and smug thing to say. We all know darn well what “good school” means and it’s far from just being about the school and the median SAT score. It’s a day to day quality of life and safety thing. Y’all would never recommend your own single daughter, niece or granddaughter live in a dangerous shitty “bad school” area but it’s so easy to type such a fake suggestion on a message board — while you live in a cozy safe area with “good schools”.

There are safe areas that don't have great schools. No one is saying that OP should move to an unsafe area.

[Anonymous]

Anonymous wrote:

Anonymous wrote:There is a difference b/t affording something and buying something. Unless you have major savings and absolutely no bills, you can't afford a $1.5m house without making significant sacrifices in other parts of your life. $300k is not a lot of money. It's not bad, but it's not great.

It’s a huge amount and they can afford a house.

It is not a huge amount of money

after taxes, 401k, insurance they will be lucky to net 15k a month. while a healthy lifestyle, not "huge".

A 1M home is not huge if they live near the city, factor in taxes, etc, they are paying half their net in mortgage costs.

Also, it will take a while to save 300k on a 300k gross salary.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is a difference b/t affording something and buying something. Unless you have major savings and absolutely no bills, you can't afford a $1.5m house without making significant sacrifices in other parts of your life. $300k is not a lot of money. It's not bad, but it's not great.

It’s a huge amount and they can afford a house.

It is not a huge amount of money

after taxes, 401k, insurance they will be lucky to net 15k a month. while a healthy lifestyle, not "huge".

A 1M home is not huge if they live near the city, factor in taxes, etc, they are paying half their net in mortgage costs.

Also, it will take a while to save 300k on a 300k gross salary.

You'd have a point if homes under $1M didn't exist but they do and they're both freely available and affordable for OP and anyone else with a $300K income to purchase.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is a difference b/t affording something and buying something. Unless you have major savings and absolutely no bills, you can't afford a $1.5m house without making significant sacrifices in other parts of your life. $300k is not a lot of money. It's not bad, but it's not great.

It’s a huge amount and they can afford a house.

It is not a huge amount of money

after taxes, 401k, insurance they will be lucky to net 15k a month. while a healthy lifestyle, not "huge".

A 1M home is not huge if they live near the city, factor in taxes, etc, they are paying half their net in mortgage costs.

Also, it will take a while to save 300k on a 300k gross salary.

You'd have a point if homes under $1M didn't exist but they do and they're both freely available and affordable for OP and anyone else with a $300K income to purchase.

Hence why I said near the city. Sure they can go live a great life in Damascus but most single people realistically are living near urban centers/suburbs

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are you planning to have children? Without needing a good school district, you should have lots of options. Where do you want to be? What’s a decent house? Most people with dual incomes and kids don’t have million dolllar houses, but we manage.

I love how audacious you DCUM closet racists are. "Good school district" (wink, wink) for me, shithole slums for thee (bachelor OP).

Knock off the faux outrage. There's nothing racist about the pp's post. OP doesn't have kids so she doesn't need to pay $$$ for a good school district. That's all pp indicated and there's nothing racist about that.

Bullshit it’s not a racist and smug thing to say. We all know darn well what “good school” means and it’s far from just being about the school and the median SAT score. It’s a day to day quality of life and safety thing. Y’all would never recommend your own single daughter, niece or granddaughter live in a dangerous shitty “bad school” area but it’s so easy to type such a fake suggestion on a message board — while you live in a cozy safe area with “good schools”.

I assume most of the comments that make such suggestions are slum lords, real estate agents and brokers who want to unload s*** shacks and condos in crappy areas to naive yuppies.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is a difference b/t affording something and buying something. Unless you have major savings and absolutely no bills, you can't afford a $1.5m house without making significant sacrifices in other parts of your life. $300k is not a lot of money. It's not bad, but it's not great.

It’s a huge amount and they can afford a house.

It is not a huge amount of money

after taxes, 401k, insurance they will be lucky to net 15k a month. while a healthy lifestyle, not "huge".

A 1M home is not huge if they live near the city, factor in taxes, etc, they are paying half their net in mortgage costs.

Also, it will take a while to save 300k on a 300k gross salary.

Sure it will take time to save, but why would OP be entitled to a $1.5M house without having to save or make any sacrifices?

[Anonymous]

I remember when I was single in my thirties making only 50K a year from my job. I owned my first three homes. A condo which I bought in cash at age 21 . Money I saved up since I was 16. and townhome which I paid off and rented out. I had a single family home with the basement rented out that covered half my mortgage. I had my job and three rental properties for income.

If your making 350K I hope you are saving and investing your money and not living beyond your means so you can afford what you want in life.

I've read about millionaire athletes' that are broke. They don't know how to manage their money.