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Real Estate
Reply to "The seven paths to DC-area home ownership"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We make $160k. We saved for 2.5 years at 50k a year to get a 125k down payment on a 650k home. It's possible and doable. Live within your means. We also spent 10k a year on fancy overseas trips and have paid off cars. [/quote] Can you break this down some more? My husband and I make about $150k together (a bit more with bonuses and book advance), pay $2k/month in rent, $600/month in student loans, no kids, and live nicely but not extravagantly outside of that. And NO WAY are we saving $50k per year plus $10k for overseas trips. How did you do it?[/quote] Pp here. When we were saving for a down payment: No kids and we paid 1k in rent (lived frugally and had a roommate). We bring home nearly 9k a month so saving 5k a month isn't hard at all... I still wear fancy clothes. We do have $250 a month in student loans from my husband. Currently we have a $2800 mortgage and still save over $4000 a month, sometimes 5k still. We don't have cable and don't eat out, but we like cooking. [/quote] Wow - where did you guys pay $1k per month rent? We're giving up cable soon - but we do eat out a fair amount. Hmmmm....[/quote]
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