Over half of Americans claim they're nowhere near achieving their definition of financial freedom, with 36% saying they have less than $1,000 in their savings accounts.
I’m just breaking even on the house. I bought at peak like a genius.
There’s also no way I could possibly buy again if I let this place go, not to mention it’s a starter home already, there’s nothing in my area that would ne cheaper short of going back to renting. I’d rather feel the squeeze and keep the investment.
Re lifestyle, that’s the number one thing I’ve been working on and have clawed back probably a grand a month there since breaking up with my wife and going down to single income. I drove a 10 year old car that I own outright (managed to get my wife to take the newer car that still had payments which she luckily can afford), shop Winco for nearly everything except a few staples that Costco saves me money on and coupon anywhere else, and have one streaming service.
I still let myself go out to with friends occasionally and engage in my long standing hobby, though to a much lesser degree, but I’m getting better and better at saying no to superfluous stuff. After a decade of being pretty comfortable it’s an adjustment to make that I’m giving myself some grace on, though I recognize that my ability to even do that is privilege. My #1 financial goal right now is to start spending under my budget rather than up to it, and I’ve got some units that are proving hard to break, namely having food in the house that I can make and eat even on those days where my executive dysfunction is making everything impossible.
Actually, such a home where I live would be impossible to purchase at half a million dollars. In Seattle, a half million dollar home is a steal, a bargain, a robbery, a theft.
Where I live, across the border, a half million dollars gets you a one-bedroom condo at about 600-800 square feet. A million gets you a townhouse. $2-3 million gets you a house, in the suburbs.
I don’t even know what point you’re trying to make. The person purchased a starter house at a pricepoint they were approved for. Maybe they don’t want a 40 minute commute to Seattle. Why are so up in arms about somebody buying a house? They used to hand them out practically for free in the 1940s and 50s.
I’m not up in arms about him buying a house. I’m providing him info that suggests he make better financial choices since he is claiming he is nearly underwater.
A $300k cash injection and significantly lower mortgage would most assuredly help with that.
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I’m just breaking even on the house. I bought at peak like a genius.
There’s also no way I could possibly buy again if I let this place go, not to mention it’s a starter home already, there’s nothing in my area that would ne cheaper short of going back to renting. I’d rather feel the squeeze and keep the investment.
Re lifestyle, that’s the number one thing I’ve been working on and have clawed back probably a grand a month there since breaking up with my wife and going down to single income. I drove a 10 year old car that I own outright (managed to get my wife to take the newer car that still had payments which she luckily can afford), shop Winco for nearly everything except a few staples that Costco saves me money on and coupon anywhere else, and have one streaming service.
I still let myself go out to with friends occasionally and engage in my long standing hobby, though to a much lesser degree, but I’m getting better and better at saying no to superfluous stuff. After a decade of being pretty comfortable it’s an adjustment to make that I’m giving myself some grace on, though I recognize that my ability to even do that is privilege. My #1 financial goal right now is to start spending under my budget rather than up to it, and I’ve got some units that are proving hard to break, namely having food in the house that I can make and eat even on those days where my executive dysfunction is making everything impossible.
1,000 square feet is 200 smaller than my 2-bedroom condo so I doubt downsizing on a starter home makes any sense
A house that costs over half a million dollars is not a starter home by any definition.
Actually, such a home where I live would be impossible to purchase at half a million dollars. In Seattle, a half million dollar home is a steal, a bargain, a robbery, a theft.
Where I live, across the border, a half million dollars gets you a one-bedroom condo at about 600-800 square feet. A million gets you a townhouse. $2-3 million gets you a house, in the suburbs.
Everett WA is 40 min from Seattle
https://www.zillow.com/everett-wa/under-250000/
Solved your problem.
“In Seattle” is not 40 minutes from Seattle, is it?
I don’t have enough money to live on the moon, so I don’t live on the moon.
Shocking.
I don’t even know what point you’re trying to make. The person purchased a starter house at a pricepoint they were approved for. Maybe they don’t want a 40 minute commute to Seattle. Why are so up in arms about somebody buying a house? They used to hand them out practically for free in the 1940s and 50s.
I’m not up in arms about him buying a house. I’m providing him info that suggests he make better financial choices since he is claiming he is nearly underwater.
A $300k cash injection and significantly lower mortgage would most assuredly help with that.