How old were you when you bought a house that is $1.2m+

[Anonymous]

Anonymous wrote:

Anonymous wrote:Dead.

We could but who wants to? I own a paid off 20 acre profitable farm with a lovely 3800 sf house. I would poke my eye out with a stick before spending a million+ on a suburban McMansion or urban shack.

No need to be rude. Other people have different needs/wants.

I suppose poking your eye out with a stick is a consideration, on a farm.

[Anonymous]

27, dual income couple and family help

[Anonymous]

We bought a $1.4M house when we were 26 and 27, nearly 20 years ago.

One of us was working at a top law firm. The other started a very successful business and was making significant income by 25.

In our mid 40s we own a $6.5M primary residence and nearly $2M second home.

[Anonymous]

Anonymous wrote:Age 32.
But we made money on a previous house AND prior to that lived for 4 years in a very, very cheap apartment in Baltimore ($400/month) and commuted to work in DC so we were able to save a lot of money.

I don’t understand people who do this. Live in a really bad situation for 4 years just to be able to buy a $$$ house? Why not live more moderately and then buy more moderately?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think the OP you are referring to is Asian. It is very common for Asian parents (especially ones that are still in Asia) to pay for huge downpayment or buying outright. I know one Chinese colleague, she and her husband bought a $2.2m townhouse in Georgetown at 28. It was paid entirely by the parents.

But do keep in mind, they have to take care the parents after they retire. No senior living community, which is considered a shame. I'm not sure I would trade parents help for that.

I am Asian and I can tell you my parents did not pay money for my house. Neither do they pay for the kids' weddings. Likewise for any of my Asian friends. As a matter of fact, we bought our parents home for them!

Asian parents also laugh at the idea of 529. My parents don't know what that is. They expect us to be smart enough to get our own scholarships to pay our way through college.

Dumb and false. Top schools no longer give merit scholarships. All of the Asian parents I know save up so their kids don’t have to be saddled with huge loans.

So do white parents, so it's not an Asian thing. How about saying it's a rich parent thing?

[Anonymous]

Anonymous wrote:We bought a $1.4M house when we were 26 and 27, nearly 20 years ago.

One of us was working at a top law firm. The other started a very successful business and was making significant income by 25.

In our mid 40s we own a $6.5M primary residence and nearly $2M second home.

What a shabby person you most be, preening on an anonymous message board.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Age 32.
But we made money on a previous house AND prior to that lived for 4 years in a very, very cheap apartment in Baltimore ($400/month) and commuted to work in DC so we were able to save a lot of money.

I don’t understand people who do this. Live in a really bad situation for 4 years just to be able to buy a $$$ house? Why not live more moderately and then buy more moderately?

So you don’t understand how people may want to sacrifice a few years to achieve their lifelong goal? It is possible that people may have different wants and needs and that achieving it may involve sacrifices that work for them.

[Anonymous]

I guess around 50, which is when we bought a 2nd home that cost that much. Our primary home is worth $1.4m but we've lived in it for 20 years so obviously didn't pay that originally. And even the current second home was a move up from a smaller house with a lot of equity, so the mortgage was relatively modest.

[Anonymous]

This whole post is stupid and meaningless. Purely to brag. Get a life!

[Anonymous]

33 and 35. First home purchase for us both.

[Anonymous]

Closest was $1.4 at age 34.

[Anonymous]

Anonymous wrote:Never

yup. we are both in our 40s, make "only" about 240k, and cannot afford that.

[Anonymous]

32 - bought a $1.9M house.

[Anonymous]

This thread is lol.
I wonder what is going to happen to all of these pricey yet dumpy homes in urban areas in a post covid world.