Anonymous
Post 08/12/2025 19:02     Subject: How does a single person buy a house around here
Anonymous wrote:
Anonymous wrote:They know how to budget themselves and save more money beyond their 401. You don't.


+1
My 20 yr old college DS, had already saved most of what he has earned through internships, has ROTH, has investment account and has asked us if he can live with us after college if he gets a job locally. My DD and SIL, routinely take stuff from our house to furnish their own. My kids have the exact same tableware, glassware, silverware, serveware as us, so that they can take ours if they run short. We have vanilla taste.

We are comfortable. My kids don't have student debt, they have paid cars, they don't have to pay for their wedding, but they live and budget like they are starving artists.



My 30 year old nephew has a house in part because he lived with his parents for 2 years after getting a job and put all the money towards his down payment. But it’s not a 1.5M house — it’s a nice little townhouse in a middle income nieghborhood.
Our 1.5M house was the one we bought in our 40. Our starter home in our 30s was 350 then, now would be more like 550.
Anonymous
Post 08/12/2025 18:49     Subject: How does a single person buy a house around here
Anonymous wrote:We buy houses for 1-3 the price.
Anonymous
Post 08/12/2025 18:30     Subject: How does a single person buy a house around here
Anonymous wrote:You don't? We're dual income at that level and would never buy at that price


Same we’re the same age at 2x OPs income and wouldn’t buy at $1.5M - what happened to the spend max 2.5x HHI rule.

Also I know a ton of early 30s professionals clearing $300-400K individually. Not rare in big law or tech or lobbying, all of which there’s a lot in this town.
Anonymous
Post 08/12/2025 18:00     Subject: How does a single person buy a house around here
Anonymous wrote:Mom and dad.
The end.


I know three people in their 30’s who own property inside the beltway.

First one lives in a townhouse and makes about 300k a year in tech, married to someone making low 100’s. Townhouse worth about 800k now. No family money.

Second and third make the same or less as him but live in houses worth 3-4x as much. Rich parents in both cases.

Real life isn’t fair unfortunately.
Anonymous
Post 08/12/2025 17:48     Subject: How does a single person buy a house around here
Mom and dad.
The end.
Anonymous
Post 08/12/2025 17:26     Subject: How does a single person buy a house around here
Anonymous wrote:
Anonymous wrote:They know how to budget themselves and save more money beyond their 401. You don't.


+1
My 20 yr old college DS, had already saved most of what he has earned through internships, has ROTH, has investment account and has asked us if he can live with us after college if he gets a job locally. My DD and SIL, routinely take stuff from our house to furnish their own. My kids have the exact same tableware, glassware, silverware, serveware as us, so that they can take ours if they run short. We have vanilla taste.

We are comfortable. My kids don't have student debt, they have paid cars, they don't have to pay for their wedding, but they live and budget like they are starving artists.



That's smart. The time to do this is when you're young and it's ok to live like you're broke.

Some people are 40 years old married with kids and wonder why they don't own a house. The reason is they didn't save for the prior 15+ years and now it would be hard to live like starving artists.
Anonymous
Post 08/12/2025 16:48     Subject: How does a single person buy a house around here
Anonymous wrote:We have a 1.5M house in bethesda for our three kids. I can’t imagine wanting that as a single person! There is endless upkeep and expenses. This year we had to replace both the hvac and the water heater! We’ve had the house 14 years and have also had to replace the roof, the patio, large portions of the fence, all the appliances (the dishwasher, laundry machine and fridge have all been replaced twice!), all the toilets, the shower heads, etc etc. plus the cleaning and yard work and dealing mouse holes and crap like that. Put your money in the market instead. If we had put our down payment in the market 14 years ago, the earnings would have far outpaced the appreciation of our home.


I would want to buy a house for future children obviously. I'd rather buy once cry once rather than have to sell and move in 5 years. Also affordability only gets worse, I regret not buying before covid.
Anonymous
Post 08/12/2025 16:29     Subject: How does a single person buy a house around here
OP hasn’t come back to this thread because she’s trolling. She’s obviously a bored soon to be spinster working in Biglaw
Anonymous
Post 08/12/2025 16:23     Subject: How does a single person buy a house around here
Anonymous wrote:They know how to budget themselves and save more money beyond their 401. You don't.


+1
My 20 yr old college DS, had already saved most of what he has earned through internships, has ROTH, has investment account and has asked us if he can live with us after college if he gets a job locally. My DD and SIL, routinely take stuff from our house to furnish their own. My kids have the exact same tableware, glassware, silverware, serveware as us, so that they can take ours if they run short. We have vanilla taste.

We are comfortable. My kids don't have student debt, they have paid cars, they don't have to pay for their wedding, but they live and budget like they are starving artists.

Anonymous
Post 08/12/2025 16:09     Subject: How does a single person buy a house around here
They know how to budget themselves and save more money beyond their 401. You don't.
Anonymous
Post 08/12/2025 14:41     Subject: How does a single person buy a house around here
Anonymous wrote:I’m 31, 350k job, I’m already past the age of average marriage and first born child and don’t run into too many other people my age with this income. Statistically in the top 1-2% income for my age bracket.

Still I feel I cannot afford a decent house around here. Take home pay is 16k a month after 401k and a 1.5M house runs 10k a month at least.

How are people my age buying homes when almost nobody earns my income?



You should look for a realtor to help you.
Anonymous
Post 08/12/2025 12:50     Subject: How does a single person buy a house around here
Anonymous wrote:I’m 31, 350k job, I’m already past the age of average marriage and first born child and don’t run into too many other people my age with this income. Statistically in the top 1-2% income for my age bracket.

Still I feel I cannot afford a decent house around here. Take home pay is 16k a month after 401k and a 1.5M house runs 10k a month at least.

How are people my age buying homes when almost nobody earns my income?



You don't need a house like that. Start with a town house.
Anonymous
Post 08/12/2025 12:27     Subject: Re:How does a single person buy a house around here
I make a similar salary, but I'm in my 50's. If I had been making that at 31, I hope I would have been saving 40 percent of more of my income.

If I were you, I could see buying a small home in a close-in suburb, and then doing a remodel (if you'd like to do such a project). It might be kind of a rewarding (if not fun) experience.

(I could see not wanting to live in a condo or townhouse, just because you're single. A small house would be nice.)

Here is a cute house in 20816 (close-in Bethesda, right across the DC line). Granted, this house is pending. But if you had purchased it for the asking price, you could have done a really nice remodel. And the homes in that neighborhood hold their value.

https://www.realtor.com/realestateandhomes-detail/6502-Brookes-Hill-Ct_Bethesda_MD_20816_M52178-17300?from=srp-list-card
Anonymous
Post 08/12/2025 10:14     Subject: How does a single person buy a house around here
And younger folks are HGTV generation they want to start at top of property ladder.

I bought a one bedroom coop with no parking spot in a foreclosure sale in my 20s, sold that in my 30s when married and bought a starter home that needed work from a couple getting divorced. Sold that home in my 50s and bought my trade up home.

My nieces, nephews see my home and go when I get married that is what I want. Dudes you live in NYC and go out every night and are in your early 30s already and rent and dont even own cars.
Anonymous
Post 08/12/2025 10:11     Subject: How does a single person buy a house around here
Anonymous wrote:
Anonymous wrote:Or you could do what my friend did. At 28 he searched for house he would like to live in when married with kids. He was single. he only searched on houses with tenants in place. Longer term tenants. He bought a place and did not get married till almost 38. Guess what he moved into wifes one bedroom apt, they had a kid, and after kid born told tenant not renewing. They them moved in and by then the tenant had paid off his mortgage. And he locked in home prices of 12 years earlier. He moved in 2003 to a house he bought in 1992. The same can be done today .

The time he purchased in 1992 is probably worth 5x to 8x today what he paid for it. I doubt it would be as simple.


Well I noticed houses and apartments with tenants in place generally go for less. Most singles and newlywed couples failed to understand you don't need to actually live in a house to have a house.

It still can be done if creative. My friend who is single bought a house zoned two family only. It is a fully rented two family. Legally you cant rent basement. However, the owner can carve out a section in basement and sleep down there which he did. In effect he pays no rent.

you can search on zillow for places with tenants in place. I wish I did this when single. You can count the rental income towards qualifying.