Spinoff to Good School Districts: If you own a home, what is your household income?

I'm really starting to feel like I'm being ejected off the island. DH and I, I thought made decent money between the 2 of us. Yet, we can't afford a home and don't seem to be able to save more than $10,000/year. It would take over 5 years to afford a decent home and that doesn't include closing costs. We don't have family who can give or lend us any money for a downpayment, and we're considering buying in an O.K. area and living there until the kids (that aren't yet born ) need a highschool.
So, for those of you who own, please answer this anonymous poll. Maybe I'm way off the mark in thinking that our income is decent. Thanks to those of you who answer.

Re: Spinoff to Good School Districts: If you own a home, what is your household income?

do you currently have a budget?

If not, I would start there to figure out where you can cut costs to save more $$.

DH and I make a nice living, but its hard to afford LI for almost everyone!

Re: Spinoff to Good School Districts: If you own a home, what is your household income?

We've been living off of DH's salary alone since we got married, so this is helping us save for a DP for a house (we bought a condo before getting married). We live very frugally and haven't vacationed in a while to save more for a DP. I'm working 2 jobs to save more.

From what I've seen, many people get in over their heads. You have a great plan to start in maybe not so desirable an area so that you can make ends meet without being nervous. I think the biggest mistake is buying a house where each month you worry about making all the payments. Buy what you can (maybe smaller than you would like, or in a different area), or rent for a while more--no baby or child is going to care whether you own or rent!

Are you renting now? What do you pay in rent?

If you're thinking about kids too, you need to factor in daycare or the cost of one of you staying home--that really pushed us to look at more reasonably priced homes.

As an educator, I can tell you that there are 2 schools of thought in terms of moving before the kids reach HS. In elementary and middle school they learn the fundamentals, which are the stepping stones for the HS courses. With an elementary and middle education that is lacking, high school in even the best district may be more difficult. I took 3 AP classes my freshman year in HS--had I gone to a different MS, it never would have been possible.

Message edited 9/21/2008 3:16:42 PM.

Re: Spinoff to Good School Districts: If you own a home, what is your household income?

keep in mind that everyones financial history is different regardless of the salary they make now....i know people who lived with their parents rent free for years after college and have no college loans....

those people are very fortunate and if they were smart have had HUGE downpayments to put down on houses...


I understand where you are coming from bc i TOO thought DH and I made a good living, and to be honest we do very well (salary wise) and even better then some of our friends....but b/c we did not have the luxury of living at home rent free for years or going to school on a free ride, things are a lot harder on us now.

When the time is right you will find what ou are looking for. even if that means compromising in some areas. If you are worried about buying into certain areas. People have given this advice to DH and i ...

"just find the worst house in the best neighborhood".....you can always change the house but you can't change the location you buy into (unless of course you are willing to sell down the road)