Reply to I used to think a million dollar house would be a mansion

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I must be doing something wrong with my life. 29 affording a million dollar home. Jesus![/quote]

Yeah, you weren't born to multimillionaire parents.  I can't believe the wealth here among young people.  [b]And no, being a dual fed couple or a law firm associate does not quite make it add up. [/b] No one can deny that there are a lot of people here with inherited wealth.  There is a row of new build McCraftman homes in our area that go for about $1.8 million and the couples who live there don't even look like they are in their 30s.  Wow.     [/quote]

Actually it does.  You can definitely save 300-400k over the course of 4-5 years if renting a relatively inexpensive apartment and no children in the picture. 
[/quote]

Excuse me, but where does one rent an "inexpensive apartment" in this area such that they can save 300-400K in 5 years?  Just wondering.  [/quote]

We rented a studio apartment in an older building in Ballston until July 2016 at $1,250 per month and it included utilities. We saved my entire take home of roughly $70k for 4 years and had $500k when we bought a $1,649,00 new built in Arlington.  When we moved our landlord raised rent to $1.300. [/quote]

4x70 is 280, not 500.

No way are you qualifying for a $1.2M mortgage on a $70k x2 income -- you are leaving out the part where your spouse way out earns you and your total income is likely more than two GS14s.

Living in a studio? So you must have left a lot of your belongings at your parents I would guess. Sure you can live simply, but let's be real here.  [/quote]

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