I don’t think I could ever bring myself to buy a million dollar house

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You may feel differently one day. In many coastal cities, $1M is or is starting to become the entry point. Another consideration, if you want to house hack with a duplex/triplex, you may be looking in that range but the calculus is different

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Live in part of it yourself, rent out another part to someone. That rent can then help pay your mortgage

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Depends on where you live. In some cities it is the starting price 😂

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I can’t bring myself not to do it. Who wants to live in the slums?

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So there's nothing between million dollar homes and "slums"? First time I've heard of any city in the US being referred that way, by the way.

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I agree. In my area you either cough up the cash or drive an hour to work. So I drive.

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Right there with you, OP.

To those who are saying that in some places the entry point is $1M, maybe the OP (or me) don't have any reason to live in such places. What are yours?

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The reasons to live in big coastal cities? Jobs, culture, diversity, events / activities, easy to travel to / from, every restaurant type you could imagine outside your door, etc

I thought the same thing until recently when I went home shopping. 1M doesn’t get you as much as you would think in HCOL cities

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$1M houses only cost $60-70k per year if you play it right

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Some people want the best house they can afford - or almost afford. In most places you can swing a house 4 or 5 times your household salary if you don’t mind the risk of being house poor and/or not really saving for retirement for a period. If you have two college educated people in a house hold, a $250k combined income isn’t unheard of - but may not be optimal.

I’ve never had a house worth more than 3x the salary when I bought it. It’s been a good decision because I get a nice house but still have flexibility to save, give to charity, etc.

The biggest issue for me wrt upgrading is property taxes. They run ~2.8% here in ‘no income tax’ Texas. Not worth it.

You clearly aren’t considering inflation....$1m in 2060 will be only$372k in 2020 dollars....

And if OP tried selling it in 2060, with inflation, the value of the house would be considerably higher than 1million, all else held at equal

Depending where you live this is not all that expensive.

That's what I thought...but now we are making >500k / year and bought a $1m place. And now we're thinking we will never buy a $2m place 😭

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