[chris]

After Bryans race car question, I thought I would ask this:

My wife and I have started looking at houses hoping we can buy in 6 to 8 months. We are seeing at TON of houses in the $400K and above range.

My question is what do all these people do to make that much money to afford that and decent cars and kids, etc, etc? I figure Doctors, lawyers, ceo's and good salesmen, with dual income households but how can there be that many?

-Chris

 

[01WhiteCobra]

After Bryans race car question, I thought I would ask this:

My wife and I have started looking at houses hoping we can buy in 6 to 8 months. We are seeing at TON of houses in the $400K and above range.

My question is what do all these people do to make that much money to afford that and decent cars and kids, etc, etc? I figure Doctors, lawyers, ceo's and good salesmen, with dual income households but how can there be that many?

-Chris

Trading up is another way. I make decent money and we are a single income family. But, the bulk came from buying the first house (actually my second) and trading the equity up into the new house. My house is not in the 400K range (in the 300s).
I have a friend that just purchased at 625K, drives a Corvette coupe, his wife drives a Lexus 470. Hell his 9yr old kid has a golf cart. lol

He is an exceptional programmer, but that is about it. Gets bonuses out the wazoo. He has never "cashed in on an IPO". I know because we tried together for 10 years before we gave.

You forgot to mention, business owners. I have another friend out in Heath that started his own air conditioning company about 7 years ago. He just finished building a 800K house. He is under 30! Drives a pickup truck, but the wifee has a nice 540i.

 

[01WhiteCobra]

Oh yea, the key to your question is "afford"!

Also, anything over 300K+ in Dallas at the moment is very weak. If you see a house listed for 350K, with some good negoiating skills, you should be able to get the house for 310-315. Likewise, if you are looking at a house at 320K, you should be able to get it in the 280-290K range.

 

[AL P]

Yep, a lot of them are second, third, fourth houses. You will be suprised at the equity you can build up over the years just thanks to market value.

I also am about to buy my first home and its gonna be about 175 to 200K at most.....in north dallas that is a hovel.

 

[tphan]

Well...back in 1999 we bought a 145K home...just sold it for 185K. Sold it in 10 days too...

Unlike apt. you will come ahead with a home.

 

[mikeb]

I think you afford them by owning several homes, building equity and trading up over time or by making a butt-load of cash by being self-employed or by being a high paid specialist (doctor, lawyer, etc).

Don't forget inheriting family money and doing it that way too.

My wife works for a high-end pool company. We went to a job site and the guy building the house paid a cool 2 million in cash to the builder for it. Unbelievable.

 

[Bullitt991]

Here is an idea....

Buy a cheaper house..... Mine cost 96K and my payments are $900 a month.

 

[01WhiteCobra]

Re: Here is an idea....

Buy a cheaper house..... Mine cost 96K and my payments are $900 a month.

Using your logic, why don't we just all run around in Ford Focuses also?

People all have difference preferences. I could stay in my current home and pimp out a couple of Z06s or a Z06 and a Viper in the driveway if I wanted to.

I'd rather upgrade my living accomdations and drive the Cobra. Not that driving a Cobra is baadd or anything, I love driving it.

Plus, I love my wife and girls. If I brought home a Z06 and told my wife, sorry, we are putting off moving, I wouldn't be able to find my wife and girls ever again.

 

[bad bowtie]

The answer to most of our questions in life is DRUGS. Once youve been in tha game long enough, you live like a rockstar

 

[bartman]

My wife works for a high-end pool company. We went to a job site and the guy building the house paid a cool 2 million in cash to the builder for it. Unbelievable.

What pool company?