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Reply to "I don’t understand how my neighbors are paying for their renovation"
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[quote=Anonymous]Likely family money, or simply the fact it's a "family home" and if it was gifted to them free and clear they can easily afford a HELOC for $500k. But in reality, it's possible they have saved well before they had kids and are worth more than you think. We lived frugally when younger, paid off college loans and saved. Combine a few good years of bonuses that we banked and normal savings, and we bought a $600K home at age 32 for cash. Only made $175K at that point (and lived in CA for a few years of the saving period, so not a LCOL). So it is possible they are where they are without much help. But really it's nobody's business. [/quote]
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