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re: So all I need to do to afford a $750,000 house
Posted on 3/17/25 at 1:23 pm to SlowFlowPro
Posted on 3/17/25 at 1:23 pm to SlowFlowPro
quote:
In most metro areas, the places where you can buy these "fixer upper starter homes" are in bad areas, which is both why (1) they're cheap and "starter homes" and (2) they're in need of that sweat equity.
Ehh, this is true if you're looking to flip multiple houses every year. But if you can afford to wait and watch great opportunities pop up. Most areas have those borderline neighborhoods with quirky charm. Mixed race neighborhoods can be fine if they're all or mostly homeowners. It's rent houses you don't want near you.
This post was edited on 3/17/25 at 1:27 pm
0
Posted on 3/17/25 at 1:25 pm to roadGator
quote:
It wouldn’t take long to find starter homes just about anywhere. The youngster may not like the drive or the amount of work it would take but again, no flipping and no ghettos.
Two of my children did this, and they have small affordable houses in pretty decent areas. When the time is right they can sell and move up as needed, or not. People raise families all around them, it's just not as nice as the neighborhood where they grew up.
Posted on 3/17/25 at 1:26 pm to SlowFlowPro
The hilarious dichotomy of this board
The economy is tanking / our economy is a paper tiger
There is no reason young folk can’t save a few bucks and buy a $450k house in a good area with a decent school district
The economy is tanking / our economy is a paper tiger
There is no reason young folk can’t save a few bucks and buy a $450k house in a good area with a decent school district
Posted on 3/17/25 at 1:29 pm to Flats
I’m a big believer in buy anything you can as soon as you can in the best area you can afford at that time.
That may be 50 minutes from where you want to be but that ends up being 10 minutes from a brand new development and shopping eventually.
I didnt buy $8k lots in a golf course neighborhood while in college. I could afford a couple and said they were too far out. No one will ever live there.
Now St. John’s county is the fastest growing area around and the place isn’t considered far any longer.
Empty lots in that neighborhood are worth $100k plus now.
That may be 50 minutes from where you want to be but that ends up being 10 minutes from a brand new development and shopping eventually.
I didnt buy $8k lots in a golf course neighborhood while in college. I could afford a couple and said they were too far out. No one will ever live there.
Now St. John’s county is the fastest growing area around and the place isn’t considered far any longer.
Empty lots in that neighborhood are worth $100k plus now.
This post was edited on 3/17/25 at 1:31 pm
Posted on 3/17/25 at 1:29 pm to NIH
I thought stout's thread was going to be the "RE TOTD" but gnug's is the one that lasted the longest (it's a lot less data-dense).
I actually posted an example from his area in DTX where builders are having to slash prices 20% on new construction b/c of the economy.
That 750k home is now 600k
I actually posted an example from his area in DTX where builders are having to slash prices 20% on new construction b/c of the economy.
That 750k home is now 600k
Posted on 3/17/25 at 1:44 pm to SlowFlowPro
Homes aren’t moving here and this is a top 5 metro
Posted on 3/17/25 at 1:47 pm to beachdude
quote:
Sadly, $750K will get you about a 1000 sq ft house in SoFla, Denver, Austin, Grand Rapids, or Phoenix. It’ll get you an efficiency apartment (maybe) in San Francisco
The most expensive places to live also have the most expensive houses.
More news at 11.
Posted on 3/17/25 at 1:48 pm to goldennugget
quote:
Is to cancel my Netflix subscription and stop buying lattes and avocado toast? Then I will be able to afford a house? But what if I don't subscribe to Netflix, don't drink coffee, or eat avocado toast? Also can you point me in the direction of those $500 beater cars that are always being talked about while you're at it?
Potato brain hid 7 million FHA loans from foreclosure using tax payer dollars to artificially prop up his economy and housing market.
7 million homes kept off the market to keep prices artificially high
Posted on 3/17/25 at 1:56 pm to goldennugget
All depends on where you live too. Here we're I am at 750k could buy 100s of acres with a house on it. 5 acres by a lake recently sold for 220k with a 5 bedroom, and two 2 bedroom houses on it.
You'd probably be in heaven if you saw my monthly bills. My only subscriptions are internet, cell phone and electricity.
All my vehicles are paid for and will be driven until they are completely dead.
Got to be smart and not give a damn what other people think or have to have th latest tech crap
You'd probably be in heaven if you saw my monthly bills. My only subscriptions are internet, cell phone and electricity.
All my vehicles are paid for and will be driven until they are completely dead.
Got to be smart and not give a damn what other people think or have to have th latest tech crap
Posted on 3/17/25 at 1:58 pm to goldennugget
Buy a starter home - you obviously don't deserve a 750,000 dollar home if you're not making enough to afford it.
Posted on 3/17/25 at 1:59 pm to RollTide4547
quote:
The median home in 2024 is 33.7% larger than the median home in 1979. So to compare apples to apples, we'd have to compare the same size houses. A 1645 sq ft home at 190.55 would be 313454.
This is where your analysis is faulty. Larger homes are a disadvantage to entry level buyers. It does no good to have larger homes when you can’t afford them.
Another thing rarely mentioned is that newer homes are being built further from city centers, which increases commute times and costs.
Posted on 3/17/25 at 2:07 pm to goldennugget
quote:
Is to cancel my Netflix subscription and stop buying lattes and avocado toast?
Stop buying a new cell phone every 6 months. The next time you buy a cellphone on the next plan or whatever, pay it off instead of trading it in 6 months later and adding an extra $1 ,000 into the cost of the $1,500 phone you are buying.
Mortgage companies and other financial institutions don't look favorably on people who spend 50 years paying off a fricking cell phone and the principal balance never goes down it just keeps going up
Posted on 3/17/25 at 2:13 pm to jamboybarry
quote:
There are homes available for less then $750K bro
Depends where you live.
quote:quote:
There is no reason young folk can’t save a few bucks and buy a $450k house in a good area with a decent school district
Yeah this simply doesn't exist in a lot of major metro areas
This post was edited on 3/17/25 at 2:14 pm
Posted on 3/17/25 at 2:19 pm to Buryl
quote:
This is where your analysis is faulty. Larger homes are a disadvantage to entry level buyers.
What is faulty about the logic? A larger house would logically be more.
quote:True, but people obviously want them.
It does no good to have larger homes when you can’t afford them.
quote:So?
which increases commute times and costs.
Posted on 3/17/25 at 2:25 pm to Ostrich
quote:If you can't get what you want/need in your current location you have 2 choices. 1) Do without the thing you want/need 2) Search for it somewhere else. If you can't find a house that you can afford in the location you are at, either rent (option 1 do without owning a home) or move somewhere else and find a home (option 2).
Yeah this simply doesn't exist in a lot of major metro areas
Posted on 3/17/25 at 2:31 pm to goldennugget
quote:I don't think anyone thinks it's a one-for-one. Saving $4.00 a day shouldn't move a person into or out of any significant living situations.
Is to cancel my Netflix subscription and stop buying lattes and avocado toast?
However, I think it's more about the spirit of being able to understand "nice to haves" vs. "need to haves". A lot of post-Gen Xers seems to struggle with self discipline and regulation in that regard.
So no, it isn't about one subscription or a latte every morning. It's more about being able to sacrifice, see the big picture, and make sound adjustments to one's lifestyle.
Or keep buying Starbucks, if that's what makes you happy. Or Netflix. That spend, spend, spend pattern of behavior can be a real challenge when you're trying to get yourself established.
Posted on 3/17/25 at 2:32 pm to RollTide4547
I remember chewing down my fingernails (just prior to y2k) because I was buying a $200k house... ripped off the band aid and now its almost paid for and I can step up a level.
Posted on 3/17/25 at 2:33 pm to goldennugget
Listen punk, you may be getting some wild ideas about not supporting another bailout of subprime mortgages and the stock market if they correct...because Drumph keeps talking about balanced budgets, cutting size of government and fair trade. You best just get that out of your head! I worked real hard to acquire my 5 rental properties and stock portfolio and I wont have a market correction deprive me of that I deserve!!
Posted on 3/17/25 at 2:33 pm to goldennugget
With that can do attitude, nothing can stop you.
Bitching and moaning is the gen z way I guess
Bitching and moaning is the gen z way I guess
Posted on 3/17/25 at 2:35 pm to 3D
quote:Or you can enjoy life without a house payment.
its almost paid for and I can step up a level.
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