Anonymous wrote:TH at age 22
SFH at age 25
SF Vacation home at age 31
2nd SFH at age 33
Met my DH in college, married @26, but combined financial resources prior to marriage to buy our 1st 2 homes.
Anonymous wrote:38, spouse 40, 2000 sqft colonial in Friendship Heights. Moved two years ago from the townhouse in Rockville bought when we were 28/30.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:33/35
Purchased our first TH pre bubble when we were 23/25, rented it and then got another SFH pre bubble in far burbs. Made a fortune after selling both and taking the capital gains exception. Have a SFH in burbs and a vacation house all thanks to that first home.
45 and 44. Just bought a $900K house in Arlington, after living in a NW DC condo for 15 years. We love the condo but decided our kids would benefit from more outdoor space and a safer street with less traffic. HHI has never exceed $150K. We are not big consumers and have always had a high savings rate -- so high, in fact, that we could have simply bought the house in cash, with plenty left-over. If you don't consume much, even a modest income can add up to significant savings across time.
Interesting. How much were you making/saving, just out of curiosity?
My wife and I are in our mid-40s and we each went straight into the labor market at age 21, so we have a couple of decades of savings under our belt. I never made much more than $70K in my twenties, but I still managed to stuff maybe 15K a year into the stock market. From age 35 to 45, I probably stuffed 35K a year into the stock market. Before the 2001 crash and the 2008 crash, I had an uneasy feeling and downshifted my equity exposure. So I side-stepped the market crashes. Now, my savings rate is probably a bit lower ... maybe only 15K a year ... but the equity I've built up generates a fair amount of investment income each year.
I save a lot not because I'm cheap, but I simply don't enjoy "stuff" very much. And if it weren't for our kids, I would be completely content to live out the rest of my days in a small condo. The house we just bought is solely for the sake of the kids, and it is only 2000 square feet. For a minimalist like myself, anything larger would seem excessive.
Anonymous wrote:I'm 36. We bought our first "starter" house when we got married when I was 24. DH was 28. It was a little over ~ 500k 12 years ago. DH paid the down payment out of his savings.
We ended up staying and renovating/adding on with an addition so we could grow into it after we started having our kids.
Anonymous wrote:Anonymous wrote:Anonymous wrote:34 and 37. Own a three bedroom rowhouse in dc. Bought for $740k in 2014. HHI is 400k
Wish we had waited to purchase as our income has increased significantly. However it allows us to save around 5,100 a month outside of retirement.
Goal is to purchase for around $1.4ish in around two years. Our goal is to have around 500k to put down.
+1 almost exact same story for us
Do you get concerned you missed out? We plan on buying in 2 years and I get worried rates will increase significantly, the tax bill will pass with a $500k mortgage deduction limit, home prices will continue to rise, etc. We do own a home we'd be happy staying in if we had to and I suppose we'd have a massive brokerage account in five years.
Anonymous wrote:I'm 36. We bought our first "starter" house when we got married when I was 24. DH was 28. It was a little over ~ 500k 12 years ago. DH paid the down payment out of his savings.
We ended up staying and renovating/adding on with an addition so we could grow into it after we started having our kids.
Anonymous wrote:Anonymous wrote:34 and 37. Own a three bedroom rowhouse in dc. Bought for $740k in 2014. HHI is 400k
Wish we had waited to purchase as our income has increased significantly. However it allows us to save around 5,100 a month outside of retirement.
Goal is to purchase for around $1.4ish in around two years. Our goal is to have around 500k to put down.
+1 almost exact same story for us
Anonymous wrote:34 and 37. Own a three bedroom rowhouse in dc. Bought for $740k in 2014. HHI is 400k
Wish we had waited to purchase as our income has increased significantly. However it allows us to save around 5,100 a month outside of retirement.
Goal is to purchase for around $1.4ish in around two years. Our goal is to have around 500k to put down.
Anonymous wrote:Anonymous wrote:Anonymous wrote:33/35
Purchased our first TH pre bubble when we were 23/25, rented it and then got another SFH pre bubble in far burbs. Made a fortune after selling both and taking the capital gains exception. Have a SFH in burbs and a vacation house all thanks to that first home.
45 and 44. Just bought a $900K house in Arlington, after living in a NW DC condo for 15 years. We love the condo but decided our kids would benefit from more outdoor space and a safer street with less traffic. HHI has never exceed $150K. We are not big consumers and have always had a high savings rate -- so high, in fact, that we could have simply bought the house in cash, with plenty left-over. If you don't consume much, even a modest income can add up to significant savings across time.
Interesting. How much were you making/saving, just out of curiosity?