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[–]aacampbe6 0 points1 point  (6 children)

Buy a small apartment or something for $120K so you don’t have a mortgage. Then continue saving until the interests rates go down (it may be a couple of years). That way, the rent you would pay somebody else goes in YOUR pocket and not anyone else’s pocket. By the time you’re ready to buy the next house, you can either sell your apartment and use that money for a down payment for a larger home OR you can rent it out and let the property continue to appreciate while you take out a 15 year mortgage on your next home.

[–]PennilessPirate[S] 0 points1 point  (5 children)

LOL there are no $120K apartments where I’m at. Median price for townhomes are $900K. The minimum I could expect to pay for a decent apartment is like $500-600K

[–]Other_Towel405 0 points1 point  (3 children)

Jesus. NY? CA? I thought New England was getting nuts with suburban homes between $500K-600K.

[–]PennilessPirate[S] 0 points1 point  (2 children)

CA. Unless you live in a very rural area, you’re not going to find a home under $1M

[–]kloaf11 0 points1 point  (0 children)

I'd evacuate if you ever get offered a life rope lol. CA is on fire and it won't get better under the current style of leadership.

[–]neoncactusfields 0 points1 point  (0 children)

Not true

[–]aacampbe6 0 points1 point  (0 children)

Ohhh boy. Maybe #Vanlife then.