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Post by cadoodlebug on May 10, 2015 0:16:49 GMT
Back story ~ DS went to college locally and started working right after high school graduation. Worked all through college and worked at the place for a total of 6 years before he found a job in his field ~ accounting. He's lived at home because he knew he didn't want to throw his money away on rent. From day one he started saving his money and yesterday he closed on a townhouse in the next community over from us. This is pretty much unheard of these days in CA where small condos in our area start in the high $300,000 range. He bought a tenant-occupied unit so they will help pay his mortgage for a year or two. Just so darn proud of him for accomplishing this before he turns 30.  |
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MDscrapaholic
Drama Llama
Posts: 6,419
Location: Down by the bay....
Jun 25, 2014 20:49:07 GMT
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Post by MDscrapaholic on May 10, 2015 0:24:54 GMT
You have every right to be proud of him!
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Post by 950nancy on May 10, 2015 0:25:10 GMT
That is awesome. Some kids just have better money sense than most.
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Post by cadoodlebug on May 10, 2015 0:31:08 GMT
That is awesome. Some kids just have better money sense than most. Plus a mom who says *pay your Roth before you pay yourself*! The best part? He didn't have to touch his Roth Ira to make the purchase!  |
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Post by 950nancy on May 10, 2015 0:34:03 GMT
I hope my kids will learn from our example. I am retiring this year (at 50) and we have our house paid off and four years of college saved for my son. I'll probably do something for $, but it won't be a lot.
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Post by Dori~Mama~Bear on May 10, 2015 1:13:15 GMT
Congrats to both of you.
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luvnlifelady
Pearl Clutcher
Posts: 4,428 
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Post by luvnlifelady on May 10, 2015 3:22:14 GMT
Back story ~ DS went to college locally and started working right after high school graduation. Worked all through college and worked at the place for a total of 6 years before he found a job in his field ~ accounting. He's lived at home because he knew he didn't want to throw his money away on rent. From day one he started saving his money and yesterday he closed on a townhouse in the next community over from us. This is pretty much unheard of these days in CA where small condos in our area start in the high $300,000 range. He bought a tenant-occupied unit so they will help pay his mortgage for a year or two. Just so darn proud of him for accomplishing this before he turns 30. That's one smart guy. I am ok (at the moment anyway) if my kids stay home longer than "normal" to save for a house. Rents in Southern CA are insane and I really don't see how young people can make it on their own without having a ton of roommates. My neighbor is about 22 or so now and she tried to move out. She shared one room with another person and then a 3rd person had the master so paid 1/2 the rent. Well, only my neighbor's name was on the lease so when the lady paying 1/2 walked out, it left my neighbor holding the bag. She couldn't make up the rent, so had to break the lease and move back home. |
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Post by cadoodlebug on May 10, 2015 3:42:05 GMT
Back story ~ DS went to college locally and started working right after high school graduation. Worked all through college and worked at the place for a total of 6 years before he found a job in his field ~ accounting. He's lived at home because he knew he didn't want to throw his money away on rent. From day one he started saving his money and yesterday he closed on a townhouse in the next community over from us. This is pretty much unheard of these days in CA where small condos in our area start in the high $300,000 range. He bought a tenant-occupied unit so they will help pay his mortgage for a year or two. Just so darn proud of him for accomplishing this before he turns 30. That's one smart guy. I am ok (at the moment anyway) if my kids stay home longer than "normal" to save for a house. Rents in Southern CA are insane and I really don't see how young people can make it on their own without having a ton of roommates. My neighbor is about 22 or so now and she tried to move out. She shared one room with another person and then a 3rd person had the master so paid 1/2 the rent. Well, only my neighbor's name was on the lease so when the lady paying 1/2 walked out, it left my neighbor holding the bag. She couldn't make up the rent, so had to break the lease and move back home. I heard a stat a while back that 30+ % of young adults in CA between 18 & 35 live with their parents. Don't know if it's true or not. DS and my DH share their love of sports and he's a *young* 29 so it works for us. |
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Post by originalvanillabean on May 10, 2015 3:42:35 GMT
Impressive. You should be proud!
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luvnlifelady
Pearl Clutcher
Posts: 4,428
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Post by luvnlifelady on May 10, 2015 5:53:26 GMT
Even back in the day I stayed home until marrying at 28. My brother is over 50 and still there (been out maybe one year). It works now since mom is widowed and nearing 80 but apparently she didn't mind us hanging around.
My niece is 19 and wants to move out but not sure she can swing it. She will room with at least 2 friends but it's very expensive in OC to do it. She's the oldest of 6 and now 2 step-siblings were added along with their mom. I imagine their house feels pretty crowded at this point.
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Post by heartcat on May 10, 2015 18:02:53 GMT
That is quite an accomplishment! Good for him. |
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