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Reply to "How can anyone afford a huge expensive home?! "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We paid $500k in the 90s. Some was equity from our previous home. Did a $500k renovation about 10 years later. Worth $1.4m now. We used cash and a HELOC for the reno, and paid the HELOC off in about 3 years. We owe very little on it now. No family money or trusts just 2 working parents. It's not that complicated. [/quote] It isn't that complicated. Just get a time machine to the 90s.[/quote] The point is buy what you can, make it nicer, and then hopefully sell for a profit. Roll that into the next one. [/quote] Exactly. And be patient. While $500k bought a decent house in the 90s it needed work, and we waited 10 years before we did that work. At that point we could afford the renovation. [/quote]
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