A lot of twentysomethings get out of college and want to buy their dream home right away. But life doesn’t always work that way. Buying your dream home might require patience and contentment.
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SO true. My parents built their dream home when they were in their mid-40’s, and a) where I live land was much more reasonable back then b) there was some family money involved (which, because of various divorces in the family, I will see NONE of, because the LAWYERS have it all). So it’s TOTALLY CRAZY to put those expectations on myself or my husband! I sometimes get so down on myself for not being in a better place financially (you know, so that I can afford that stuff and impress people I don’t even like…), when actually I’m in a GREAT place for my stage of life: IT’S JUST THAT I’M IN A DIFFERENT STAGE IN LIFE. nnOne thought I heard from somebody (so sorry that I can’t remember who) is to not compare my *beginning* to someone else’s *middle*. That’s true for life, business, everything.
ok thank you
As a parent, what is the best way to really help my child get their first house; without damaging the ownership pride with too large of a gift?
Maybe approach it like you would with their first car? You will match them dollar for dollar so If they save $20,000 and you can gift that much without damaging your lively hood, then they are already working hard and following good money practices so a gift would be enabling?
While I agree completely with this advice I don’t like how Rachel lumps herself in this category. I’m sure she is not living in a small house or renting. Pretending you are one of the people takes away from your message!n
She and Winston live in an $800,000.00 home… At least that’s what the Williamson County tax records say.
If you are in your 20s and 30s and have enough money saved to pay cash for a huge dream home then there is nothing wrong with that… Which is most likely her situation. But for normal people like you and I making household incomes of $50,000/year (approx. national average) Then yes this message is very important… Basically she is just saying don’t take out a 30 year mortgage on a home and still stretch yourself with the payments because thats the only way to afford a big house. That’s dumb!