Reply to If you were born in 1990, how do you plan on ever affording a house?

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[quote=Anonymous]I am a little older than you, born in 83, but I sympathize. Let me tell you how I was able to eventually buy in a similar situation.

I have no support from parents and graduated with 60k in student loans. For about 5 yrs I had a job where I made 45k so after loan payments and rent, there wasn't much left. But there was some left because I didn't pay as much as I could afford for rent--I lived in a tiny studio and never ate take-out or at restaurants or take luxurious vacations so I could save. Then I got a job where I made about 70K, then I married and added about 60k more to HHI through DH. We didn't have a wedding by the way, mostly so we could save. We continued to live extremely frugally and aggressively paid off my loans (putting as much as we could toward paying down principle) in addition to putting some money away every month. I took a job with a student loan repayment option that, combined with my own payments, allowed me to pay off student loans entirely about around 10 yrs out from school in addition to having about 100k saved that we put toward a small, unrenovated and unremarkable home inside the beltway.

I admit it's pretty frustrating to have lived so frugally for so long in order to buy a home that's not at all impressive or wonderful, but it's not terrible either, and it offers a decent commute; I look as it as an investment and a first step.  [/quote]

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