Hrekires

Hrekires t1_j3r1yp7 wrote

I know you can't predict the market, but buying with a 3.5% down payment and paying PMI for a couple years rather than waiting until we'd saved up 20% was probably the smartest thing we did. It's a pretty massive difference when you're looking at ~$400k houses and not one that could have been made up for in a few years by brown bagging lunch to work.

We bought in 2018 and then refinanced to get rid of PMI when prices peaked in 2020... if we'd stayed in our apartment and kept saving money, I literally wouldn't be able to afford to buy the house I'm living in today.

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Hrekires t1_j3ou974 wrote

  1. Became a dual-income, no kids couple
  2. Gave up my apartment in the city to move into a relatively inexpensive apartment in Jersey together
  3. No vacations and limited luxury spending for a couple years while saving as much as we could
  4. Set our budget at something we'd be able to afford on a single income so that we wouldn't be in dire straights if one of us lost our job, took a paycut, or decided to become a stay-at-home parent someday (our happy-medium was 60-70 year-old houses in middle class towns that were move-in ready but dated)
  5. Looked at houses in towns we wanted to move to in order to figure out where we could find something that met our needs and was in our price range
  6. Made sure we had enough saved for a 3.5% down payment, closing costs, and moving expenses
  7. Found a real estate agent
  8. Got preapproved by a bank
  9. Started looking at houses and putting in offers
  10. Eventually had an offer get accepted and not fall apart during the legal review or home inspection periods
  11. Closed on the house and became a homeowner
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Hrekires t1_iy99lby wrote

Of course. All depends on the place.

Last apartment I rented before buying a house, 2-bedroom apartments got 2 spaces and 1-bedroom apartments got 1 space.

If you're looking to have a roommate, imho I'd take the space myself but give your roommate a small break on the rent in exchange for dealing with street parking.

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