Reply to Buying a first home - did you get the downpayment from your family?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP, you're making like $6k a month.  You could spend $1,500 on rent each month and still have tons leftover.  Where's all your money going?[/quote]

I wish. It's $4500 take home after my taxes, thrift contribution (12% of salary + 8% match), life+health+dental+vision insurance. Also, I just hit this level of salary one month ago after a recent promotion. I'm also dumping a LOT ($700+ month) on student loans and didn't finish full-time grad school until I was 29. If it wasn't for grad school, I wouldn't have my very good job (got a 40% raise vs. my job before grad school).

[b]I do have money saved up, but no way do I have $50K+ for the down payment (plus closing costs) for a mediocre condo[/b].[/quote]

Cry me a river.  Six figures at 31, no dependents, and you can't save anything?  Nothing?

Better get cracking to save up that $50K.  You need to start somewhere.[/quote]

OP here:

I'm not crying anything. I was just trying to see if my experience was typical for young, well educated professionals in DC. Think of my posting as more of a survey than a rant. I freely admit that saving up for a downpayment is hard work and requires sacrifice for most people.

That said, I went to a grad school populated by lots of wealthy students and they compose my main network here in DC. So it sometimes feels like its only me and a few other friends from middle class backgrounds who are struggling with this while all those who are buying are not having the same experience.[/quote]

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