how the hades did you save a six figure deposit?!

[Anonymous]

Anonymous wrote:How do people save $200,000 for a home downpyament here?! How.

We make $165,000 and have two small kids. It took us all year to save $10,000. At this rate I won't have that kind of cash until I'm 60 (I'm 38 now).

Good grief. How?

Rich parents, this isn't the 1950s, we are halfway back to feudalism.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You're 38, have two small children, and are just now starting to save for your first house? And, your first house is going to be $1m? And your HHI is only $165k? The answer to your question is in your question.

Sorry but this is spot on you aren't in a good position to buy a 1 m house

+1 Our income is nearly double yours, and we bought a 1m house. And we lived below our means in a 900 square foot apartment with our first child for 5 years to afford it.

[Anonymous]

Anonymous wrote:How do people save $200,000 for a home downpyament here?! How.

We make $165,000 and have two small kids. It took us all year to save $10,000. At this rate I won't have that kind of cash until I'm 60 (I'm 38 now).

Good grief. How?

They either make more money than $165k, buy a cheaper house than $1M, or have family money.

[Anonymous]

We started saving long before we had children -- once we had kids, the savings stopped.

[Anonymous]

lol sounds like you think you can afford more house than you really can. we bought a place on the red line in DC for less than 400k, and the rental unit pays for the entire place. there are ways to do it, but not if you want a $1million town house.

[Anonymous]

move to Silver Spring spend 500k problem solved