Reply to It’s extremely hard to raise kids in a nice neighborhood without generational wealth

Forum Index » Money and Finances

Reply to "It’s extremely hard to raise kids in a nice neighborhood without generational wealth "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Actually a lot of couples without generational wealth are purchasing these homes.

It’s not that difficult when you’re young, married and renting to sock away a lot of cash.

And/or you get on the property ladder early

My DH and I saved 100k in one year on a [b]300k HHI without kids[/b]. It wasn’t that difficult. We purchased our first home with 15% down and then rolled the equity into our next home, which is $2 million.

Problem there are also plenty of couples who are too good for entry level homes and condos. They rent in expensive areas and complain about housing prices. You don’t start off in your dream home. [/quote]

I’ve heard of couples looking for what they consider starter homes in our Fairfax County neighborhood, and they pass because they just aren’t large enough or they aren’t updated to their liking. It still surprises me because these couples are at most probably 30 years old. While not McLean, it’s a nice area with sought after schools and good neighbors who are active in the community.

That’s a very healthy income, especially without children. I can see where you’d be able to save.

We are 54/55. After we married, we bought a new 2 bedroom townhome condo. We lived there for about 7 years before selling and moving into a small, new SFH with our one year old. That house was further out and we did have to deal with a longer commute to work, but being able to take our DC to a daycare near work or to work with one of us allowed use of the HOV lanes. We then sold that house and moved to our current “forever” home almost 17 years ago. At that time the house was $430k and our HHI was probably $130k or so. Salaries slowly increased and our HHI is now approximately $250k. We were able to fund most of DC’s schooling through grad school and we have been very happy in our nice neighborhood while raising a child.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics