After two days of perusing housing prices in the SF Bay Area, we realized we’d have to save at least $50k to $60k to afford a 10% down payment on a place in a decent location. At least 2 bedrooms. Condo or townhouse would be ok, single family home–better. Holy crap.
My mom’s always had a standing offer for us to move back home and save money for a house (she reminds us at least once a month), and I’ve been against it for so long. Because who wants to be in their 30’s and just married and living with their parents?
But after realizing what kind of down payment we needed…and crunching the ridiculous numbers (the housing fund being nonexistent at the moment)…hey, we could just put all my income to the housing fund for a solid 12 months and have what we need! And use Mr. Bacon’s income for spending. WOW!!!
Anyone else save a butt-load of money living with their parents at an awkward age and stage of your life? I know a ton of friends that did this post-college (their early 20’s) but not too many over 30.