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Reply to "how on earth can we save a down payment?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My fiance just bought a condo in DC (20016) after saving for a year. We have 2 children and fit fine in 888 sq feet condo. We are hoping to buy a bigger place in 6-10 years. Why not buy smaller pace? Put down 5% at least. FHA is a rip-off.[/quote] Wow. That's a small condo for 4 people. I will stop complaining about my little house now.[/quote] :-) We had 2 kids in a condo with 900 square feet too. It was perfectly fine when they're little and probably easier, because we didn't have to deal with the extra housework of having a bigger home. It's just outside of the norm of DCUM where people talk about their 8000 square foot homes as they're average.[/quote] Yup so strange how the concept of a starter home and trading up is lost on people on DCUM. Its like everyone wants stuff handed to them damn millennials :-p.[/quote] We're expecting baby #2 in a <550 sq ft 1 bedroom apartment, so that we can 1) save on rent and 2) send DC #1 to free preschool (and save on preschool costs). With those savings, we'll be able to put 20%+ down on a small condo. Anything with 800+ sq ft feels HUGE now! By the time our little ones turn into preteens and start getting smelly, we should be able to comfortably trade up to something a bit bigger.[/quote] 900 square foot condo parent here. I felt like my apartment was super spacious in comparison to other friends in the area (ex: we also had a friend with 2 kids in a 1BR of 550 square feet--baby slept in the living room with mom going in and out as needed, and toddler with the parents in the bedroom). It's all about your perspective. [/quote]
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