How old were you when you bought a house that is $1.2m+
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Anonymous
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^^
Wtf did I just read |
Anonymous
| 36, 1.4 mill |
Anonymous
| We were 29/30...house we bought this year (15 years later) is $3M. Income has increased tenfold in that time. |
Anonymous
| This thread right here is why everyone hates the DC swamp. |
Anonymous
| 33 and 34. 1.3m. MIL gifted us 60k and the rest of the deposit was from us saving up. |
Anonymous
| We bought our first house in Arlington in 1989 for under $250k when I started in biglaw as an associate. I would have been 28 at the time. I had student loans at the time, too. The redfin estimate on that same house (we sold it years ago) is now $950k and very little has been done to it. I couldn't buy a $950k house today on a second year associate salary with student loans. No way. Things are tough for this generation. |
Anonymous
Are russian trolls promoting bitcoin on dcum? 
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Anonymous
| 42/44 |
Anonymous
| The youngest people I knew buying homes in that range were female biglaw associates in their early 30s with slightly older husbands who also made good-great money (one a biglaw partner, one in consulting). Those couples probably had combined HHI of 600k-1M+ at the time of the purchases. |
Anonymous
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I don't think 1.2M is that out of question for a mid 30s couple.
Why are some people so annoyed by this thread? Two working professionals earning 200-250k each and you can EASILY afford a 1.2M house even without a massive downpayment. The cost is probably around 6k a month. I bought my first house at 29 for 750k - if i waited a few years I could have gone up to 1.2-1.3M but I am comfortable in my current set up. I envision needing to spend 1.5 - 1.75M on our "family" home in about 4-5 years. I'd be 35 at that point. |
Anonymous
| 56 and still waiting |
Anonymous
| We bought our first home when I was 31 for 875k. We put 25% down. Parents paid half of the downpayment and we paid the other half. We can probably afford a $1.2 million home now, six years later since our home is now worth $1.1 million. However it would be a stretch for us financially since we have three kids. We are really lucky. Some of our friends couldn’t afford a house like ours and ended up having to live much farther away from work. Others have delayed having kids. Things are just so much more expensive these days and the majority of young couple that can afford homes (expensive or not) have gotten help from their families. |
Anonymous
| We were 39/37 when we bought our $1.4M house. I had already purchased a home in a different city as a single Fed for $600k, which we now use as a rental property. |
Anonymous
Exactly The better question is when could I have been approved for a 1.2M mortgage or when mommy and daddy gave me a down payment? |
Anonymous
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Why do you assume "mommy and daddy" game everyone a down payment? Jealous much?
I didn't receive a single dollar for my down payment and I am not overleveraged at all. I just lived below my means while many of my peers were jetsetting to Europe, leasing BMWs, fancy clothes, etc. A lot of people could be approved for a 1.2M home - but we all know never to listen to your lender to determine what you can afford! |