• ChihuahuaOfDoom@lemmy.world
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    4 months ago

    That seems about right, I’m an elder millennial and the only reason I own a home is because I was able to take out a VA loan back in 2009. If I had to put 20% down, even back then, it would have never happened. These days you’re talking down payments of $100,000 which is ludicrous.

    • Cyborganism@lemmy.ca
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      4 months ago

      Older millennial here. Been saving since I started my career in 2008. Purchased in 2020. The only reason I was able to was because my girlfriend received a 10 year retroactive compensation for being paid less than her make colleagues and her employer offered compensation. The amount was incredible. It was like winning a fairly good amount in a lottery.

      That’s the only reason we were able to buy. Luck.

    • Ashyr@sh.itjust.works
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      4 months ago

      Just as an FYI, most first time homebuyers don’t have to put down 20%. Talk to a professional and discover what your options are. There’s tons of assistance programs for first time home buyers that varies from state to state.

      I know housing is insane, but a starter home to get your foot in the door may not be out of reach.

    • Facebones@reddthat.com
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      4 months ago

      Elder millennial, conditionally 100% with the VA. Bought in 2016 and with an increase recently to pay it off at 50 my payment is ~$630. I’m not going anywhere.

      • oatscoop@midwest.social
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        4 months ago

        I bought a run down, 900 sqft “starter home” in 2018, with the original plan of doing repairs and selling to upgrade in several years.

        Now? – fuck that. I’ve fixed it up and I’m going to live here until I die.

        • Facebones@reddthat.com
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          4 months ago

          Hell yeah dude. I need to get to patching mine up but my ex was shitty about getting things done and now I’ve got a whole damn complex about doing anything myself. Lmfao