Reply to Are we the only family in the DMV who is priced out?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The problem for OP and a lot of others around here who grew up UMC is that they had nice, large, comfortable homes when they were young. So they think that they deserve a home like that for their family now. When OP and others have a $1M+ budget and call houses in their price range “crappy,” they are acting entitled and are out of touch with reality. (No wonder their realtors suggest borrowing from their parents; non—UMC would not behave this way.)

I grew up poor as heck. I bought a “crappy” little house here 12 years ago that is luxury compared to my childhood home. I have hot water, a roof over my head, a fricking dishwasher!, access to good schools and transit, and more. My house is not fully updated and is close to a busy street, but my mortgage is low and the house works for us.  [/quote]

Projection much? DH grew up in an apartment with shootings in the parking lot. His left when he was 10. I'd hardly call that UMC.

He and I both don't want to end up house poor, where we both have to work full time into our 70s. We both see that routinely in our workplaces and it scares us. These coworkers have nearly all of their net worth tied up in their homes and didn't start investing for retirement until they were in their 50s. Seeing that every day has made us far less eager to jump into a money pit without an inspection or an adequate reserve fund for structural repairs at our price point. We set a target for that fund (separate from downpayment, closing costs, etc.) and are saving for that. We save about 40% of our take home pay. I think that's decent for a family of four, and if we can't buy around here because I make a median salary and DH is topped out, we'll either have to change jobs and move or just keep renting. We'll be fine either way, as one PP noted, but it does mean that we run the risk of being priced out. [b]It's all about choices.[/b] Some people are happy owning and working until they die, some people make 1M a year and save over 50% of their take home pay and can have it all. We are in between, and that's just reality.[/quote]

15 pages, and we finally get to it.  You aren't "priced out," you have made a bunch of conservative financial choices, and you are a bit particular about the house and location, and you are finding it difficult to satisfy *all* of those requirements at once.

That ain't priced out.  JFC.  [/quote]

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