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Real Estate
Reply to "If you were born in 1990, how do you plan on ever affording a house?"
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[quote=Anonymous]it's all about priorities . If you really want a house you can figure it out. Live at home 2 years at Montgomery College $9000 tuition 2 years at U.Md $20000. You have a degree in business , accounting , engineering or comp sci. Get a job 75k. Live in group house $500/mo. Student loan $300/mo Other expenses $1000/ mo. That's 34500 in the bank every year. With raises over 5 years it will be about $200000. Get married . That person has $100000 saved since a little younger. Put down 150000 on a 700000 home. Loan amount is 550000. PIT is 3000 a month but with tax write off its equal to $2000 a month . Married Monthly income 75 k plus 50 k =125k 10450 gross. 6900 net. -3000 house. 3000 other expenses 900 savings/investment along with 150k you already have. [/quote]
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