As someone who was 24 at the time, and probably the perfect age to buy one if it was my parents’ generation, I was nowhere near ready to buy a house still… honestly, 23-30 were the best years of my life, then I got married and brought one in 2014, which was still semi decent to buy at the time. It was super hard, though, and I have no idea how all these people today are somehow paying above asking price in cash or getting mortgages paying crazy amounts over asking with these interest rates! Either I did things completely wrong in life or these bad decisions people are making today will come full circle a few years from now.
My wife and I just cancelled buying a home because we took a step back and realized that $2700 for living in a house is crazy. And of course the mortgage company is telling us we can afford it. After expenses, we would have no room left to budget for starting a family. Especially with medical care costs. I’m not sure how we’re gonna make it work unless prices come down significantly.
2700 is a lot. But if your lender thinks you can handle it, that means you have *some *deposable income. I think you shouldn’t buy a house, but invest some in the SP500 or some government bonds. Putting money away for your future greatly helps you grow some equality.
As someone who was 24 at the time, and probably the perfect age to buy one if it was my parents’ generation, I was nowhere near ready to buy a house still… honestly, 23-30 were the best years of my life, then I got married and brought one in 2014, which was still semi decent to buy at the time. It was super hard, though, and I have no idea how all these people today are somehow paying above asking price in cash or getting mortgages paying crazy amounts over asking with these interest rates! Either I did things completely wrong in life or these bad decisions people are making today will come full circle a few years from now.
My wife and I just cancelled buying a home because we took a step back and realized that $2700 for living in a house is crazy. And of course the mortgage company is telling us we can afford it. After expenses, we would have no room left to budget for starting a family. Especially with medical care costs. I’m not sure how we’re gonna make it work unless prices come down significantly.
2700 is a lot. But if your lender thinks you can handle it, that means you have *some *deposable income. I think you shouldn’t buy a house, but invest some in the SP500 or some government bonds. Putting money away for your future greatly helps you grow some equality.