how on earth can we save a down payment?

[Anonymous]

Anonymous wrote:We saved up 100K in 3-4 years on about 8000 a month income after taxes. We were in a 2 bedroom condo with 2 kids, paying about $2600 a month in mortgage plus condo fee. We had no help, and larger student loan payments than yours. The thing I noticed in your budget was tuition - why do you need that and daycare? That was one expense we did not have. We also did not have the credit card debt (how long till that is gone?), and your gas/fuel bill seems really high. What doesn't add up to me is that some of these expenses seem like they come from living close-in (2K a month daycare) but you also seem to spend a lot on transportation. Can you move further out, and find a cheaper apt/daycare? Or are you close-in and can get rid of a car? I think you can easily chip away at $100 on the cell, $200 on the rent, $400 on the daycare, and maybe $100 on the food, $200 on the other stuff? That requires a move further out likely, but it would get you to $1K a month...

This original post is from 2014.

But I can still commiserate!

[Anonymous]

Anonymous wrote:The issue with real estate is that it keeps spiraling upward (at least in the long term) and it you don't jump in at some point you just get passed by and priced out.

Yup. The above post is from 2014. DC was cheaper 3 years ago.

[Anonymous]

Anonymous wrote:I think that if realtor commissions went WAY down that people would buy and sell houses more. Or if there was an easier way for homeowners to sell their own houses. 6% is a lot of money when housing prices aren't increasing that much. It doesn't make sense to buy every 5 years if you have to pay $$$ just to realtors to sell.

This is definitely a big issue. Realtor fees are much higher in the US than in Europe.