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If a couple both work and can save $125 a week each that's going to be $250 a week or $1K a month or $50K a year. After 3 years if you can work from home or if you are flexible in employment you can move to a place where you can buy a decent home for $150K.
$1k a month X 12 = $12k/year.
The first four homes we went through all had mortgages, the highest amount of down payment we have ever paid was $8k.
Our fifth home [where we live today] was bought with cash [no mortgage].
If you save $100K for a downpayment there are a lot of place in the country where you can buy a decent home for $100 to $150K. If you want to move away from the bigger cities there is a place in Florida where you can buy a new 3/2 modest home for
$150K and it's only about 30 miles from a major interstate so it's not in the middle of nowhere.
It won't kink to the home but it's the one that costs $142,990
There are no "decent" homes for the 100-150k price range anymore. Atleast not in big cities. You will live in a dump if you buy a single family house for 100-150k. This was not the case 5-6 years ago when houses were still cheaper then they are now.
There are no "decent" homes for the 100-150k price range anymore. Atleast not in big cities. You will live in a dump if you buy a single family house for 100-150k. This was not the case 5-6 years ago when houses were still cheaper then they are now.
There are no "decent" homes for the 100-150k price range anymore. Atleast not in big cities. You will live in a dump if you buy a single family house for 100-150k. This was not the case 5-6 years ago when houses were still cheaper then they are now.
One can still buy a decent, if not grand, home within that range in the Pittsburgh metro area as long as one is buying outside of the hottest parts of town. I paid under 100K for mine (all brick, one car garage, three bedrooms, one and half bathrooms). It needs work (don't they all?), but it's certainly not a dump.
My newest neighbors bought their house for not much more than I paid for mine several years ago--and neither of them can be far into their thirties, if that.
Interesting thread. Where I live (San Francisco) for 2.5x my salary I wouldn't be able to buy a garage. And I'm into 6 figures by now. I think our poverty line was $117K for a small family.
The problem with buying 150-200K houses is that you have to live either in the ghetto or in the boonies. And I'm not ready to do either one of those!
There are no "decent" homes for the 100-150k price range anymore. Atleast not in big cities. You will live in a dump if you buy a single family house for 100-150k. This was not the case 5-6 years ago when houses were still cheaper then they are now.
There are, maybe not where you live but there are many places in the country where you can still get a decent home in a safe area for that much.
Wherever you go, there you are.
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