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Posted on 4/4/24 at 4:59 pm to Chicken
quote:
move to the burbs and buy a cheaper home.
It’s even more expensive.
Posted on 4/4/24 at 5:12 pm to fareplay
You can't find any homes under 300,000 in the burbs? Nowhere?
Posted on 4/4/24 at 5:35 pm to Chicken
quote:
You can't find any homes under 300,000 in the burbs? Nowhere?
You can if you go out as far as Princeton. You can find a small home for under 300k. Now that is 45 miles out.
Posted on 4/4/24 at 5:40 pm to Chicken
quote:
You can't find any homes under 300,000 in the burbs? Nowhere?
It's possible but the pickings are slim and you are likely looking at a 1200 s.f. house. There are more, bigger s.f. choices if you go south of Dallas.
Posted on 4/4/24 at 5:42 pm to Zappas Stache
1200sq ft house that needs work***
Posted on 4/4/24 at 5:50 pm to fareplay
quote:
that needs work
Probably....but you could live in it.
Posted on 4/4/24 at 5:51 pm to Zappas Stache
I guess, but one thing I can’t do with is lead paint and these homes def have that.
Posted on 4/4/24 at 5:53 pm to Porter Osborne Jr
quote:
Do starter homes exist anymore? Drove by my grandparents old neighborhood the other day with the 1950’s 3/2 ranch and the size difference to new homes today is tremendous. Does anyone start with a small House and work their way up?
They’re out there, and they’re affordable with today’s salaries. Problem is new homeowners want a McMansion, or they don’t want to put the sweat equity into an older home. They want something completely redone with an upgraded kitchen.
A lot of 20 and 30 something’s can’t hang a picture let alone do drywall work or paint.
Posted on 4/4/24 at 5:55 pm to Free888
Friend 300k starter home is still really expensive for starter salaries (or even mid career)
Posted on 4/4/24 at 5:59 pm to fareplay
quote:
one thing I can’t do with is lead paint and these homes def have that.
probably, but lead paint doesn't have much danger for adults and we are talking a single adult in this thread.
Posted on 4/4/24 at 5:59 pm to fareplay
I’ve bought 4 houses and only put 20percent down once… and only had it to put down twice. Meaning in some situations it may make more sense to an individuals situation to pay PMI and keep your hands on the cash.
Regardless- my first house was a shite hole, my second one was better, my third one was again a little better and my fourth one is pretty nice.
So I’d say start small and work at it like everyone else did before TikTok.
Regardless- my first house was a shite hole, my second one was better, my third one was again a little better and my fourth one is pretty nice.
So I’d say start small and work at it like everyone else did before TikTok.
Posted on 4/4/24 at 6:00 pm to fareplay
If a couple is pulling in $100k, with a 20% down payment, they should absolutely be able to afford a $300k home. I have 2 kids that are doing it.
Posted on 4/4/24 at 6:03 pm to Free888
But you literally will be driving 45 miles from town to find a home under 300k that isn’t in a US version of the 3rd world.
Posted on 4/4/24 at 6:05 pm to Free888
quote:the bigger problem is that young people aren't saving like they should… 20% down on a $300,000 home is 60 grand… even for a $200,000 home that's 40 grand… it takes some discipline to accumulate that much at a young age.
If a couple is pulling in $100k, with a 20% down payment, they should absolutely be able to afford a $300k home. I have 2 kids that are doing it.
This post was edited on 4/4/24 at 6:06 pm
Posted on 4/4/24 at 6:07 pm to Chicken
quote:folks should listen to this advice
it takes some discipline to accumulate that much of a young age
but sometimes that bread is already set aside by some loving parents
either way, saving is key
Posted on 4/4/24 at 6:07 pm to GeauxTigers123
quote:people do that all the time around this country
But you literally will be driving 45 miles from town
Posted on 4/4/24 at 6:11 pm to Chicken
quote:
people do that all the time around this country
45 miles in major metro traffic. That is easily 1.5 hours on a good day.
Posted on 4/4/24 at 6:12 pm to Chicken
quote:
20% down on a $300,000 home is 60 grand
Easy to get an FHA loan with a 3% down requirement. You'll pay an additional mortgage insurance but its still a good deal.
Posted on 4/4/24 at 6:13 pm to fareplay
A typical Dallas family has no problems affording housing:
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