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SVTPerformance's Chain of Restaurants
Road Side Pub
My turn: 1st time home buyer and want to see what advice you guys have
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<blockquote data-quote="rotor_powerd" data-source="post: 15572130" data-attributes="member: 76391"><p>You sound like a former member, thomas9374 or something, who always seemed in disbelief that anyone could comprehend how expensive houses are and how anyone could ever afford a house. Houses on either coast are generally pretty expensive because that's where the majority of metro areas are. Metro areas all over the country are very high priced, because higher paying jobs are more so located there. I'm an hour and a half west of D.C. "in the country" and any decent modern house on a little bit of land here is $450,000-$500,000. The hard truth is just that people buying those houses make more money or have family money or some other source. My wife and I have pretty much always been a single income family, when we got married we lived in Fairfax, VA in a 700 sqft apartment that was $1700/mo. That was 6 years ago. I was getting paid about 3 times what you are now and with minimal debt it was comfortable but not exactly like we had money pouring out our ears. A year later we bought the house we are in now and while the monthly payment is slightly cheaper than that rent was, expenses ultimately went way up due to just having to take care of things. I would strongly not recommend buying a house if you cannot afford to spend several thousand dollars at any given time without it causing major financial duress. Granted that's not likely to happen in a condo, but the relatively high HOA fees associated with a condo will offset that. </p><p></p><p>My best advice is just to focus on your career for now and focus less on spending money on mods for a financed car etc. That sort of thing is what gets people trapped in a hole that takes years and years and years to get out of.</p></blockquote><p></p>
[QUOTE="rotor_powerd, post: 15572130, member: 76391"] You sound like a former member, thomas9374 or something, who always seemed in disbelief that anyone could comprehend how expensive houses are and how anyone could ever afford a house. Houses on either coast are generally pretty expensive because that's where the majority of metro areas are. Metro areas all over the country are very high priced, because higher paying jobs are more so located there. I'm an hour and a half west of D.C. "in the country" and any decent modern house on a little bit of land here is $450,000-$500,000. The hard truth is just that people buying those houses make more money or have family money or some other source. My wife and I have pretty much always been a single income family, when we got married we lived in Fairfax, VA in a 700 sqft apartment that was $1700/mo. That was 6 years ago. I was getting paid about 3 times what you are now and with minimal debt it was comfortable but not exactly like we had money pouring out our ears. A year later we bought the house we are in now and while the monthly payment is slightly cheaper than that rent was, expenses ultimately went way up due to just having to take care of things. I would strongly not recommend buying a house if you cannot afford to spend several thousand dollars at any given time without it causing major financial duress. Granted that's not likely to happen in a condo, but the relatively high HOA fees associated with a condo will offset that. My best advice is just to focus on your career for now and focus less on spending money on mods for a financed car etc. That sort of thing is what gets people trapped in a hole that takes years and years and years to get out of. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
My turn: 1st time home buyer and want to see what advice you guys have
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