I see all these million dollar houses being bought up by late 20s and 30s people.
This isn't possible as a software engineer. What do we have to do?
- Oracle not_larryWhy do you think it’s not possible? They have to have saved 200k. Can’t do it in 5-10 years?
- Software engineer with million dollar house. Did it when I was making 250k.
Did it by first buying 400k home. It turned into a 600k home. The sale of the home got me back around 350k. Plus we saved another 300k, lots of which was invested.
So dont hold cash. Buy assets that appreciate.
- How is it not possible? Many swes make a couple million a year so buying a million dollar house isn't a big deal. Even if you never get passed a new grad salary 250 to 300k a year starting at age 22 and you can afford a starter home by 30.
- Bank of America / ITbiggie8moreMy friend bought a 1.5m house in East Bay - they are mid 30s i am guessing they make 300k combined income and gave a kid - daycare etc. It's impossible to afford -- but turns out their dad loaned them 1m for down payment..
Nothing like family money