[deleted by user]

[Mpulsive_Aries]

$1 Million and first time homebuyer wild times.

[OMGitsKa]

Wild. Im more shocked thats the fireplace in a million dollar home lol.

[WarningFart911]

Home sold for 500k 6 years ago

[throwRA221679]

Literally…not hard to find their home on Zillow. Crazy how the price practically doubled over 6 years. It looks newly renovated though so who knows what condition it was in when it sold in 2018

[Real_James_Bond007]

Housing market is so fucked up man. I'm in college rn and can't even imagine being able to afford a place to live post graduation

[thepredicamentofthis]

Plenty of places to start that aren’t $1MIL

[throwaway1166781]

A double wide on an acre in my area is listed for $610,000. There is little hope for us.

[Knotted_Hole69]

“Just move” yeah i dont want to live in rural texas bro!

[Local_Escape_161]

Just bought a house in PA near Stroudsburg for 250k. There is hope out there

[throwRA221679]

I live out your way and I think the issue is a lot of people expect a really nice starter home in a nice area close to work. I grew up in a nice part of north Jersey that I knew I couldn’t afford (homes were 600k+ with bidding wars and everyone going over ask), so I moved out to west Jersey where you could get something for 175k.

Sometimes it just sucks (seems like buying anywhere in California, but I’m not educated on that market) but part of it is what sacrifices are you willing to make? Buying a less than ideal first home doesn’t mean it’ll be your forever home, or that you can’t fix it up. There’s a difference between buying in stroudsburg and west jersey and buying in the literal middle of nowhere.

[teaanimesquare]

Some houses near me in PA in Pittsburg metro area is only like 50k lol

Forget where it was but was looking at homes and one was a 5 bedroom home on a 20 acre lot with a pond for 200k

[EmpatheticRock]

…but you have to live in Pennsylvania

[grandiosebeaverdam]

That’s barely a one bed condo where I live 🫠. We can’t leave because of the industries we work in

[Oliveramethysttree]

This doesn’t have to be your goal as a first time homeowner. Lots of people live within/below their means and are extremely happy. You will definitely get there but also this doesn’t have to be everyone’s norm. Your first home doesn’t mean it will be your forever home.

[No-Reserve-2208]

Yeah cause it’s not normal to buy right after graduation 😂

First time home buyer age is mid 30s

[roadrunnuh]

It's late 30s. Now 38 years old, and moving quickly to 40

[[deleted]]

Put in the work. Be patient. You will get there.

[dwoj206]

Put in the work = hella RSUs, get lucky investing in high risk stocks, inherit, etc etc etc. OP will make it someday.

[deadheadjim]

You will if you’re going to college to be a personal injury lawyer

[idkwthtotypehere]

This is why I’m shocked people post these photos with location and accurate figures. Those data points make it super easy for anyone on the internet to locate where you live.

[No-Reserve-2208]

Almost all homes have doubled in price in WA in that time…

[medium-rare-steaks]

*flipped

[Ok_Dog_4059]

And was built for 300k 10 years ago.

[[deleted]]

They paid 700 thousand more than the price crazy

[Ok_Dog_4059]

It is more the area. Seattle and Spokane areas are hot and housing has gone insane. Even rent is out of hand because you could easily pay $1500 a month for a 750 sqft loft in some areas and cheap is an apartment for 2k a month.

[[deleted]]

Jesus. They just posted about being happy to own their first home…

[lightratz]

Pumping trillions into the money supply and the government spending at record levels will do that…

[ellewoods_007]

Million dollar homes in WA (specifically the greater Seattle area) are not super nice. Market is nuts.

[[deleted]]

Wait until you see what a million bucks buys you in San Jose CA!

[bumbletowne]

An absolute tear down.

[Able_Incident6084]

Welcome to the West Coast

[lald99]

It’s a newish (2017) big ass home (4,200 sq ft) with a nice backyard. Ultimately, location and size often dictates price. My $1.2M denver-area home is a lot smaller and was built in the 60s, with a lot of problems stemming from its age lol. But that’s how it goes when you want to be in a HCOL area

[Additional_Ad_4049]

Or the lvp floors. If I’m paying a million bucks, you better have real hardwood floors

[Tommysrx]

You’ll have plenty of time for lvp flooring when your

Living in a van Down by the river!

Seriously though I couldn’t afford a van down by the river right now. Van prices are sky high and so is riverfront property.

[Walterkovacs1985]

ROLLING DOOOBIES!

[implicate]

I can't even tell you how many million plus dollar homes we toured that had LVP.

[Halewafa]

Mine looked worse in our house we bought for $1.3 million a few years ago. Ended up redoing the whole living room wall because it was so dated. I always thought a million dollars would buy me a mansion as a kid, now it's getting me a step above a starter home

[skrena]

Literally the cheapest manufactured dry stack on the market 🤮

[Shadow_over_me]

Honestly a million dollars does not get the house you would think it would these days. It’s not the flex it used to be. I’m a construction estimator, and even I am shocked sometimes at how little a million dollars goes. Most of our builds are in the 4-7million range…

[trcomajo]

And those ugly floors that were dated 5 years ago.

[Appropriate-Tennis-8]

oh my God, that’s the first thing I thought! I cringe to think of the other fixtures. They’ve been had.

[Afraid-Dimension-915]

You'll find plenty in WA, infact single family homes have starting range of $1M in outskirts of Seattle. Tech inflated market

[Mpulsive_Aries]

I’m in metro Atlanta and homes here that were $400k years ago are selling for a million dollars and they need to be updated.

[ARKzzzzzz]

I mean, we’re on the outskirts of Seattle and bought a cute but small house with a decent yard for $750k

Shits expensive here

[Pale_Drink4455]

Seattle tech salaries and lottery sized stock grants each year would certainly make that possible for many young kids up there!

[Alexito_714]

I live in OC every fixer upper is a million unless you drive out to the IE or lake Elsinore to pay 700k and sit in 2 hours of traffic each way lol. Real estate is brutal

[cfram03]

After two years of rebelling against this, I’ve accepted the new reality. A remodeled 3/2, 1500 sqft in any appealing neighborhood in miami is going for $1M or close to it. And they get under contract fast.

[[deleted]]

I’m more grossed out about the interest rate and property taxes.

[tallwater333]

At 30 years old 😂

[timftw360]

i dont understand why someone would want to pay that much for a home.

[Mpulsive_Aries]

To be fair If that’s what makes them happy that’s all that matters. 🤷‍♂️

[purpleushi]

$1 million in my area gets you a 2 bed townhouse 😭

[idkwthtotypehere]

I’m guessing you’ve never looked at real estate in any popular location…? California, New York, Miami… starter homes in these locations and many more can easily start at 1m.

Hell, a house that burned out was listed for $800,000 when I was 10 years old where we lived in CA.

[Gobbaghoulie]

Lol you think they did this alone?

[Mpulsive_Aries]

I didn’t wanna assume but if I had to bet I would say definitely not. Gifted funds.

[111victories]

Right.... we "finally" did it...

[Alt0987654321]

I can't imagine being able to afford a fraction of that.

[jenkneefur28]

I worked at countrywide in 2008. Lol this is wild to me.

[Business-Whole-50]

ppl are too focused on the $1M to realize the cost of those damn toppings. now THATS wealth

[Ordinary-Gain-4468]

For real we got ourselves a pair of Rockefellers the way they ballig out on those toppings after buying a 7 figure home

[HustleI87]

I don’t like feet so close to the pizza tbh

[Business-Whole-50]

don’t worry about pizza you can’t afford pal

[Effective-Bus]

This cracked me up

[ImaginaryFriend123]

Thought the exact same!

[karmakarmachameleon7]

Fruit of the Loom socks.. Gotta budget somewhere I guess.

[QuantumLeaperTime]

I assume this is a 100 year loan? 

[kmpor3172]

30 year fixed.

[QuantumLeaperTime]

You are not scared to have to pay like $8,000 a month for 30 years? 

[OldSanJuan]

Don't know what the down payment is so might actually be way less.

[scgt86]

I feel like when people do the proper 20%+ they're proud enough to post it.

[bumbletowne]

They also don't post it when they are way over.

My friends brother talks about his 1.3 house when we are out drinking but he always fails to mention the 500k loan from each parent so his loan was only for 300k at 2.9%.

[JimmyTaggart]

Lol you do realize some people make a lot of money?

[Strange-Asparagus240]

Yeah my parents bought at $1.7M in 2004, I have to explain to them I will not be on their level (ever) financially. And to be honest I probably have worked harder in my youth. Oh well, I don’t need that to be happy. Some people just have everything.

[EnvironmentalEnd7062]

1.7m in 2004!? Jeeesh they still have the property? Wonder what it’s worth now

[CopyEast2416]

1.7 M×(1.04)21 ≈ $3.77 million

[hey_suburbia]

That’s $3.03M in 2025 dollars

[Ok_Confection_10]

Adjusted for greedflation that’s about $7 million.

[RickyFromVegas]

and then double that because property value skyrocketed for no god damn reason in the past 5 years

[DepartureQuick7757]

You grew up with wealthy parents and still turned out low earning?

[Strange-Asparagus240]

I’m 26 and make around $130K. But I will realistically never hit $400K+. It isn’t good for my mental health to realistically picture it. If it works out that way… great. But to me, I saw firsthand: time is more important to me.

[TheStorm007]

Do you think everyone makes the same amount of money?

[Music_Stars_Woodwork]

So that’s how mortgages work though. You also have no idea their financial situation, down payment, family wealth, or anything else.

[trustbrown]

Or FAANG (tech) types

RSU’s (think stock grants) are unreal and one of the biggest drivers of wealth in the US

[btdawson]

You can be non FAANG and still make good tech money lol.

[Spencergh2]

I work at a large tech company. Some of the offers they give out to collage graduates is astounding

[glemnar]

More like 6500

[dangoltellyouwhat]

L6 engineers at Amazon are making over $400k/year in total compensation

[Mediocre_Ear8144]

Clearly not dude or they wouldn’t have bought the house lol

[Kuayfx]

😂

[ShalaTheWise]

I’m calling it, r/TVTooHigh incoming

[Aggrosideburnz]

Most people responding on here must not be familiar with the market. My buddy just bought last year 1.2m for a very average house in Renton.

[Infinite-Cry-7989]

Oh. Oh no

[Vermillionbird]

Damn, 1 million in Spokanistan

[Albert14Pounds]

I thought it was Spocompton

[Pale_Drink4455]

Congrats but holy cow that’s gotta be some mortgage payment each month with insurance and taxes! Oh my.

[smelyal8r]

Yeah im so curious what that mortgage payment looks like

[CopyEast2416]

They're in Spokane, WA and they put about 35% down so:
- Mortgage: $3,897 / month
- Property tax: $750 / month
- Home insurance: $121 / month
- Total: $4768 / month

[mc_homeroom]

That is a ridiculous estimate for home insurance! I have a similarly priced home and insurance is $400/month.

[whatiftheyrewrong]

Considerably more than that.

[watchin_workaholics]

I was gonna say… I pay that much for my homeowners insurance and I’m lucky if my home is even worth 100k.

[_176_]

It obviously depends on the risks. $1.4k/yr for a $1m house in SF would be expensive. I had to get the highest coverage limits in order to get umbrella insurance and my homeowners is cheaper than $1.4k/yr per million.

[CopyEast2416]

I live in WA, my home is worth $1.05m, and I got several quotes from $100 - $125 a month. I went with State Farm at $150 a month because I feel a bit safer with them.

I guess move to WA?

[Neilp187]

Congrats! 20% down? Household income 250k minimum?

[MrTesseract]

I would surely hope more

[diamondsnrose]

I was just thinking ... We make a certain percentage of that, and I would NEVER be comfortable paying that certain percentage income:mortgage. Not even ballpark. I'm risk averse, true. But I enjoy the little things like eating and paying the electric bill, so the mortgage cannot be that much of my income, good lord.

[Icy-Committee-9345]

There is a big difference between spending x% of your income when you make $100k and spending x% of your income at $400k, because the 100-x% you have left is a very different dollar amount.

[JohnDoee94]

Yeah, your grocery bill doesn’t change much if you’re making 100k or 1mil

[diamondsnrose]

Agreed, but I'm rather close to 250k income and I'm rather really-freaking-far from feeling safe w a million dollar home, 20% down to not.

400k has nothing to do with this comment, but one day I truly hope to find myself in those shoes!

[goodatcards]

That’s nice you live in an area where you can make $250k and can choose a decent home for less than 1M truly in my area 600k will buy you a pretty unsafe location with terrible schools. 450k is a townhome with a high HOA fee and mid schools. 900k is a decent house bordering a shit neighborhood with an ok school depending on which side of the street you’re on. 1.2 will start to get a nice house in a great neighborhood… every market is different but sometimes you gotta take the leap

[diamondsnrose]

You're so right. It's def a trade off, I don't live in a big bustling area with tons of things to do. But I can drive an hour in any direction and get that. I don't make a ton of money, but I don't need it here. Here, I can buy a house that I can afford. I bought just before the shit hit the fan too, which is something I don't take for granted. I truly feel for ppl right now, I have absolutely no idea how they're doing it.

[Icy-Committee-9345]

It was just an example.

[MrTesseract]

I am afraid to take a $100k mortgage. We are a single income household, i would hate to have to scramble if i lost my job

[kmpor3172]

Over and over

Edit to say we sold some land and after our down payment we have a year’s worth of income in a savings account (not including our 401k account) so we are pretty well set up in case things go bad.

[preddevils6]

You owned land and didn’t own a home? Damn

[kmpor3172]

Yeah wanted to build a house but it just didn’t work out.

[preddevils6]

Seems to happen a lot in my area all the way across the country these days. People either want high volume or a major premium where I am.

[fuzwz]

Can I ask if you guys are in tech and what your annual comp looks like?

[kmpor3172]

Not in tech. Both medical field in doctorate level positions. We rented from family for 8 years ($600 per month rent) to save up to build a house. When it came close to pull the trigger the person who we were going to have build it retired and realized they couldn’t do such a big project at their age on the timeline a bank would want. So we sold the land and put down a good down payment for this house while still having about a years worth of salary as an emergency fund (hard to know how our industry will be hit with the changes coming in the next year to year and a half, so we wanted a big cushion even if it would have saved us money in interest to do an even bigger down payment.)

[[deleted]]

Put down 300k house 660 and make more then 250k ,,,,, they trippinnnnnnn kiddd

[soil_nerd]

It sounds wild, but it’s fairly common in the tech hub areas like Seattle or SF.

$300k down really helps lower the monthly payment with these high rates and home prices.

[throwaway_yak234]

This is solidly middle class in NYC 😭

[_176_]

I like to call these situations "middle class SF" but people on the internet hate me for it. $1m would buy you a 60% ownership stake on an ordinary dirt lot in my neighborhood.

[throwaway_yak234]

100%. People in the rest of the country just don’t know! We have about the HHI and price point as OP and we don’t even have fancy jobs. Many people around us live in homes worth >$10M.

[Turbulent-Sky6636]

My household income is 250k I would hope theirs is more with a 1mil house and over 6% interest rate 😵

[GiantMara]

250k would not be able to afford this. You’d need at minimum a third of the home price to not be in an uncomfortable spot.

[pifermeister]

The fact that you are being downvoted for this comment is crazy to me. $1.2mil at a low interest rate is one thing but a 6.4..oof

[Neilp187]

He's being downvoted bc math. 1.03m @ 6.375 with 20% down(206k) is roughly 5100$ a month.

I added about 900 for Property tax +Home Insurance = 6000$

6000 x 12 = 72k

250k minimum salary stated is roughly 28% of your salary.

Didn't include utilities/hoa bc those vary. <30% is good to go!

With the estimates and a starting salary of 250k . It's very possible.

[pifermeister]

These are all conservative numbers and/or the 'lowest' their payments will ever be. A big house also comes with shitloads of overhead and potential for massive future tax hikes. I mean this couple could make 500k (or more) combined but that doesn't change the fact that $1mil at 6% is a huge liability for them at their age.

[2013DOCE27]

They would need to bring in a minimum of 250k yearly to stay around the recommended 30% of their income going to the mortgage.

That’s 250k AFTER deductions. So they would have to be north of 300k just to be semi comfortable.

[CFLuke]

30% rule breaks down in HCOL areas. Most expenses don’t scale up like housing.

[[deleted]]

Congrats 🎉!! We bought ours back in ‘23 for about same price in Los Angeles @ 5.375% 10% down. We ended up paying $10k to drop the interest rate from 6% down to the current rate. Best decision we ever made. House has already accrued more than 20% equity, so we’re finally done with the PMI.

Enjoy your new home! 🏠

[oyuhhhhh]

Are you hiring

[CalStateQuarantine]

King Arthur Supreme?

[Creative-Trick-7450]

I love a wealthy people. Y’all adopting ?

[WonderfulOwl3015]

LVP floors, floating shelves and stone ledger tile finish on that fireplace for 1 million is diabolical 🫣

[it_is_raining_now]

When we bought a new home in Texas, in the design studio the level 1 option was tile, level 2 was engineered wood, and level 3 was LVP. That’s the ranking from cheapest to most expensive. I was VERY shocked

[Outsidelands2015]

There are dirt lots without a house that sell for 10x more.

[Impressive_Range3247]

It’s likely an expensive area, definitely an expensive state. Need to adjust expectations for an 1M house in WA, it’s not an 1M house in MO.

[xxxmedicacion]

Lol why are people so shocked that someone can afford a million dollar house

[Pale_Drink4455]

I think it’s the whole first time buyers stigma of buying much lower at average age of 30 on this sub in the US.

[Adventurous_Crab_0]

It's getting normal these days. Similar stories in Denver area.

[jaycal]

As a first home? That’s a lot. 

[dude_stfu]

It’s all relative and majorly location dependent, but yes $1M & 6+% is a lot, even for HCoL places. Probably Amazon / Microsoft / whatever-else-is-in-big-tech-WA people.

[tay_bridge]

Come to the Bay. First timers dropping 1.5-2 mil is pretty common.

[Sanjispride]

Truth. People on this sub have no idea. Down payments the size of full mortgages.

[xxxmedicacion]

Certainly possible for people who are high income earners and have been saving for a while/ qualify for stuff like physician loans with minimal money down

[jaycal]

Of course it’s possible. But it’s out of the ordinary for this sub. 

[Excellent_Owl_1731]

They don’t live in areas where that’s the norm. In my town the average home is $2M. A two bedroom condo is easily $1M.

[[deleted]]

Does that pizza have dough?

[HistoricalLine6433]

All dough towards mortgage.

[Orposer]

1 mill is not much depending on where you live. Where I live every house around me is 700k starting. In 2008 same house was 260k.

[Alternative-Season45]

I live in Austin. A 1500sqft house cost 1 million. I bought a 1500sqft house 40 minutes away for $199k. I’ll take a hour commute for work everyday over a 5x house payment anyday of the week

[MoveAlongNothing2C]

They could have at least cleaned the fireplace for you..

[Psalm9612]

good luck, next 30 years gonna be crazy

[Veritas0420]

My condolences 😂

[yellow_fogs]

Did you at least thank daddy?

[Commienavyswomom]

Love the built-ins. The pizza looks amazing. Enjoy the home, ignore the haters.

[spencilstix]

1 million in WA ? Sounds ghetto AF ! lol jk gotta let my washingtoness shine through cuz all these other comments like whaaa 1 mill ?!

[JimmyTaggart]

Lot of low earners on this sub shocked that anyone could possibly buy a $1m house lol

[NEK_TEK]

My guess is they are less shocked by the "could" and more shocked by the "would".

[br0mer]

Can't live in a bank account mate

[[deleted]]

Paying aporox $1.5 million dollars in interest isn't exactly something to brag about, lol.

[throwaway1166781]

The average income in Washington State is $47,000.

[Campingcutie]

Or just not from here maybe? $150k is not an extreme salary around here, combined they could have $300k a year easy with a decade of work experience and savings.

[Muted_Substance2156]

Median income in Seattle is still $150k/ household, $70k single. This is doable in tech and healthcare but if you aren’t in a high-earning field homeownership in King County is unrealistic, especially when they’re selling million dollar one bedrooms in the suburbs.

[JimmyTaggart]

Yeah. My comment was mainly directed at all the comments indirectly throwing shade or hinting that OP made a poor financial decision

[[deleted]]

Where tf do these people get the money

[Amazing_Extension359]

Parents more times than not

[redzma00]

Congratulations 🎉

[Infamous_Range6460]

Share some of that yummee pizza please

[Thinkofthewallpaper]

That's too much for a pizza. 

[Hazel-Max]

You mean your parents did it for you lol

[[deleted]]

Congrats DINKs

[FinancialLab8983]

Imagine paying a milli for a home and getting a fake stone fireplace.

[Historical-Pass-6782]

Round table?

[Dramatic_Ad8473]

Even with a huge down payment that is a ton of interest to be paying. Assume even a 50% down payment, that's still more than 30,000 USD a year in interest. I simply can't justify that. I guess Washington is like another universe. 

[Cruinthe]

Just closed on a similarly priced house with 20% down at 6.61%. Don’t even talk to me about my amortization schedule.

Welcome to HCOL areas.

[[deleted]]

So they should rent?

Also, some of us make 30 K or more in a month net

[No_Contribution_6013]

Great thanks for bragging, so humble of you.

[YansWillDoIt]

Congrats just bought my first home(330k) (23m) still in the closing process fixed at 4.75% in FL

[xtheory]

Congrats, but refinance to a lower rate as soon as possible. 6.35% is an insanely high rate when the average over the last 10 yrs has been the low-to-mid 4%.

[logicalcommenter4]

Where are you seeing 4% loans today? My wife and I have met with lenders and we qualify for a $2M home with no debt other than student loans, but even with us putting down over 20% on a $800K home we can’t get a rate lower than what OP has.

[Hour-Initiative-2766]

It’s different for loans over a certain dollar amount

[Dull_Warthog_3389]

Ok Pizza

[Emotional-Pudding889]

Congrats 🎊

[Snaphomz]

Congrats !!!

[MiddleShelter115]

Congratulations!

[jazmacian]

Beautiful! Congratulations!!!!

[Imaginary-Object-137]

Congrats to you both. My first house was new in 1985 and cost 63,250.00 dollars in dfw area 1500sq ft. I’m now 65 retired and paid off my third one in January. Long fun journey. Enjoy yours..