Hello all,
I’m here for advice. I recently sold my first home and moved back in with my folks while I continue saving up for my next home. I made really good profit after only 3 and a half years, but it still leaves me wondering how people are affording these $300k+ homes?
From what I’m seeing, regardless if you’re building or buying an existing home, they’re all well above $300k, even for where I live. I’m looking for my next home that should house a family someday. I make about $45 an hour, which is great at 30, but for some reason, it doesn’t feel like enough. Mortgage payments for a 1700sqft home is nearly half of my monthly income, which is insane. It’s why I didn’t find another home right off the bat because it didn’t make financial sense.
So my question to everyone is, how do you afford these $300k or $400k homes without issue and worry in today’s economy? I’m taking a couple years to save up, so it will help, but I’m not without concern. I’d also like to know from some of the men here that have stay at home wives. How do YOU guys do it??
Thanks everyone.
Posted by WoodyBL1ke
11 Comments
If you make $45 an hour why did you sell instead of just holding on to what you had?
$300k would be dirt cheap in many places.
Most people today have two income earners. Those that don’t generally make more than you do apparently, right?
You wait longer to buy or you find a job where you make more money. You should feel lucky that $300k-$400k houses are even available.
Well honestly most people buying 300 to $400,000 homes are usually double income. My husband and I both work and we both make about $45 an hour otherwise there would be no way
Dual income. My wife and I both work. If one of us didn’t we wouldn’t be able to live where we do.
They make more money. How else would anyone afford something you can’t afford? They have more money, simple as that lol.
Get married to someone with similar earnings who is smart with money and doesn’t spend like crazy.
People used to get married younger. It’s a huge financial asset to do (to the right person). And the idea of just one person living in a single family home all by themselves doesn’t make the most sense anyway. Historically speaking that’s an unusual scenario. It’s a big use of resources and cost for just one person.
You sold your first home…. but you are asking how you can afford a home? HUH?
Wife gets a job. Make more money. Buy a smaller house. Cut your expenses.
1700 ft.² is a big house for one person.
Many people aren’t affording these homes, that’s why young buyers are pissed off and the market is frozen
You couldn’t pay me enough to have moved back in with my parents at 30!