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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Only first time homebuyers put down just 20%!

On our second home we put down 60%. It's easy. Live your life on one income and save the other's income. [/quote]

Do you live in the DC metro? Or are you married to a law partner? or you are are old. B/c with daycare running $3k/month for two kids, mortgage for a basic starter home at $3k/month, you have to clear $200k to 'save the other's income'.[/quote]

No. We make HHI 180k. We aren't Asian (although I do agree they are good savers). We don't have children yet, but considering our mortgage is only $1500 on our 700k house, it won't be such a struggle with daycare. We lived on one income since we got jobs and saved 60k a year. We still take great overseas vacations and don't feel pinched at all. [/quote]

Come back when you have kids.  You are really fortunate and I say congratulations, but you come across as smug.  Not everyone makes as much as you nor have they been as fortunate.[/quote]

Not smug one bit. Not even that proud about it. But I'm sick of everyone saying they can't do it. We haven't always made this much either. [/quote]

Than how did you save $60k/year for at least 7 years to get your $400k downpayment??  That requires about $100k additional pre-tax salary, so where did savings come from?  Any outside help or lucky investments (ie you bought before the last bubble?)[/quote]

It was our second home... We did make money on the sale of 1st home, but we also put a lot of equity into it. We had a high mortgage. [/quote]

Can you elaborate on when you bought, for how much, and what it appreciated to? What kind of equity did you put into, like you are a handyman and reframed an addition? And started with 20% downpayment then?[/quote]

So this was in DMV, what was your approach? We are first time home buyers and trying to see how to make it to have a huge downpayment for our next home.  Unfortunately we aren't super handy, so hopefully that wasn't your appoach?![/quote]

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