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Real Estate
Reply to "Who can afford 800K-1M homes? Genuine Curiosity!"
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[quote=Anonymous]DW is a career civil servant who has 25 years in service. I am a federal computer specialist contractor. We both make slightly over $100K. While I did purchase my first home in the 90's and made about 250% on resale, this isn't why we live in a $720K house. I purchase my first home inexpensively, lived well within my means and saved the rest. In the 13 years I lived there, I had saved $180K which was used as the down payment on our next home. You have to live within your means. Seeing that the median family income in this area is close to $50K, then two incomes making $180K today, should be able to put away $20-40K per year and in 5 years, you'll have enough for a down payment for a good home. You have to make saving a priority. If you spend it all, then don't complain that you can't afford a home. You made the choices to spend rather than save.[/quote]
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