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[quote=Anonymous][quote=Anonymous]I am happy with our path to homeownership.  We rented cheap apartments in great areas for the first 6 years of our marriage, drove crappy, old cars, and lived very no frills, while saving up a huge downpayment.  We had no family help at all.  We bought as first time homebuyers a $1 million house in the suburbs in 2011.

Our thought was that we had no interest in buying the intermediary condo or townhouse before buying a house, so we just skipped that part and rented for a long time while saving up the downpayment.  We didn't want to be stuck underwater in a condo that we would have outgrown just to be home owners sooner.  We also did not want an older, small house, so we looked further out than Arlington and Falls Church.  The commute downtown was an acceptable trade off for a huge yard and house.[/quote]

This is an entirely sensible plan - and I say that as someone who would never ever, do it.  The commute would make me crazy, as would the maintenance of that large a house and yard (and we don't need it).  So, we saved up, lived cheap in gentrifying areas, and purchased a large-ish condo in a now almost gentrified area.  Almost the polar opposite of the the PP (except for the saving part).[/quote]

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