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Reply to "Is home ownership out of reach for people under 30? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It’s not that hard. Step 1- buy a condo instead of renting. Step 2 work your way up to a townhouse or small sfh. I would not live where we do now if we did not buy a condo in our early 20’s. By 30 we has a house with no family money[/quote] This is the way. [/quote] What are people smoking! I'm 38 and if I had done that would likely have been under water for at least a decade. Very thankful I didn't Today? Condos in my area are 500-700K. I'm not seeing how that math works either. [/quote] Our tiny starter home in 2005 was $600k. We sold it after ten years, made a profit, rolled it into a better house and are now sitting on a lot of equity. I don’t know where you live, but if you’re in an area with healthy home appreciation then a condo at 500k seems like a good starter investment. [/quote] Condos don’t appreciate the same amount as SFHs [/quote]
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