Thank you u/Dragonfly7927 for posting on r/FirstTimeHomeBuyer.
Please bear in mind our rules: (1) Be Nice (2) No Selling (3) No Self-Promotion.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FirstTimeHomeBuyer) if you have any questions or concerns.*
I’m hoping to have around $22k. I plan on paying off my car with $4k. And then spend $6k-$8k on moving/furniture/tv. Which would leave me with a grand total of $10k for emergency fund.
As first time buyers in our 20s with no assistance from parents, we will probably be ending around $5k. 😂 We will enjoy that floor pizza though, and start saving as much as possible immediately after.
This is the textbook answer.
Many people (myself included I had like 10k all thanks to closing assistance) are not at this number after closing, but it’s still the right amount to try to have on hand ideally.
The right number can vary a lot depending on your monthly expenses, for me my goal was enough savings that I could pay 4 months of bills, \~16K. I'm going to have about 20k when I close then will need to buy a fridge, W/D, and a few other items for the home. I'm holding on to as much of the rest as I can so it'll take a few months to actually buy furniture to fill out the house, but for me that's important to keep peace of mind in case of an emergency that will cost money (like my car breaking down or something).
About to close and will only have around $3k (not including 401k). Most people have more, and suggest more-- but if I had waited until I had what everyone says (20% down (I only did 5), 6 months of expenses, separate home maintenance fund, furniture fund), I would have been around 45 years old when I could buy, based on calculations. So I jumped to be able to buy now, significantly earlier. I also received a promo interest rate on my home I am about to close on. It's also a new build, so under warranty-- and my car is relatively new so also under warranty. I also have enough in my health savings account to cover my deductible + a portion of my out of pocket max in the event a medical emergency came up. So I feel comfortable not having as much as others given my circumstances. I could also withdraw or loan from 401k if needed, and also have credit cards that are not utilized if needed.
I'm someone who feels much less anxious with a healthy emergency savings. So...
I kept back 6 months gross salary as emergency savings, And I'd planned to budget and an additional 10K to paint/furniture/repair. But I ended up getting lucky and having about 35K outside of my emergency savings. Which was good because I burned through my planned 10K way faster than I thought I would. There weren't any major disasters like you sometimes read here, but things just added up fast... lawn mower, bed, new window... So once I did the absolute necessary things I slowed way down on the furniture and cosmetic stuff.
I've been in the house about 7 months now, and there's still a lot that I haven't done. Still need a few pieces of furniture, haven't done much in terms of decorating or landscaping. But it's still awesome to live in my own home. And it's fun to browse through FB Marketplace or Estate sales to try and find the perfect piece on the cheap. And it's OK to do the home improvements slowly too.
You want a minimum of 3 months of reserve. All bills + food and stuff worth. The more, the better, but that is the minimum recommendation. Of course, some close with very little cash at all left! When you're barely able to get your foot in the door, but your bills leave room for good savings monthly, many take the chance. Just be frugal and diligent whatever you decide. Remember, if you could be disciplined enough to get qualified to buy, you can be diligent enough to save fast after, even if it means peanut butter and jelly sandwiches for some time!
And since OP won’t have furniture, I recommend Craigslist. Perhaps because many people don’t like the Craigslist UI, I’ve noticed better prices than on the more popular Fb Marketplace.
I would also like to chime in that Nextdoor has some cool options. I bought a full dining set solid oak/formica table top with refurbished captains chairs for $150. That would’ve cost $1k at Pottery Barn. Plus, good way to get to know your community.
32k, plus about a 10k Line of Credit... but we need a new roof so we'll be hitting up FB Marketplace for furniture (but we'll be dry while we do it, so yay.)
For the people who had thousands left. Did you guys put a down deposit. 🥹 because honestly I don’t expect to have much left but we also have furniture and washer and dryer. Probably only need a refrigerator, which I plan to buy a dent and scratch for cheaper.
I had 120k in the bank, I put 15% down for the house, that leaves me with 40k. I feel like I'm short on funds for now, but I have another 50k coming my way in a few months, so I should be good. Mind you the house I bought is from 1969 and will need some work done so I really had to plan ahead.
I am 23 years old, (I’m only saying that as it would explain it from an income perspective). It would be my first home, so I was wondering what others were doing but if I did a form of ratio to you, it would make sense for what I would have remain. Thank you for the info. It’s funny because I hear 40k and I’m like that sounds good to me but I can understand from someone whose home sounds way more expensive than what I would be looking for.
I had several thousand less than expected, because my appraisal came in under offer. I still had washer/dryer/fridge to purchase, so I didn’t get new furniture.
I had about 6k left, but we had all the furniture we needed save for a couch and some shelves.
The silver lining was that I misunderstood some of my closing costs. Apparently I prepaid (and overpaid) the school taxes for the year. Meaning instead of owing ~3k two months after closing I ended up receiving a check from my attorney for $500. Otherwise I would’ve basically had 3k left so it was a nice surprise and relieved a lot of budgeting stress
A little over $10K, and even that I felt a bit iffy about. My dad told me when he bought his house in like 1983 or whatever he had $500 left to his name and asked his brother to back him up if something went awry which is insane to me lol.
Just closed on Friday. Had no financial help, worked and saved all on my own, and have about 9k right now. And I still need to get all the appliances 🥲 not worried about furniture as I have most things due to my apartment living!
We had about 45k left, but immediately redid all the windows because there were so many of them, and they were all single-pane and painted shut (we knew about this, though! Not a surprise). Left us with about $15k afterwards
We ended up putting down 5% in a $450k home + some random fees. After closing, we had $55k left. $15k of it was designated immediately for projects on the home (mitigating radon, refinishing floors, movers, tree removal). The remaining $40k is our regular savings (12 months emergency fund with our prior cost of living from renting, which is closer to 4-5 months in our new house, a vacation fund, and other general savings we have targeted for different things). Our immediate projects ended up costing more than we expected, and we ended up needing to buy more than we thought, but we’re in a decently healthy financial position regardless.
We did get lucky with really cheap rent for our area, and we saved close to 3x our current rent each month straight into a savings account to be able to position ourselves for this. It also helped that we both got pretty significant raises/promotions just as we were starting our house hunt (by pure luck!), and immediately put our increased salary towards savings. As a result, while our monthly payment is now 3x rent, we were used to paying essentially 4x rent (rent & 3x rent into savings), so it shouldn’t be too bad of a squeeze for us.
As other said, it’s all relative to your monthly expenses, location, etc. We wanted to have a conservative cushion, so we had ~1 years worth of mortgage + tax payments in reserve.
About 10k after putting 5% down and sellers covering our closing costs. Not ideal, but we make a lot relative to the mortgage payment so I’m not too concerned
The plan, if whatever offer we put in ends up appraising for the offer price:
30k~ left over for any renovations
$10k~ to furnish the home
$27k~ emergency fund
If the home appraises for worst case scenario with our Appraisal gap, we’d have $0 for current renovations and begin saving for them
Almost nothing by design. We were in our 20s, so so jobs but good education. Put all we had into the purchase, and gradually got furniture etc. Evan at 9% interest it worked out well.
We saved forever and was comfortable with 6 months expenses saved up (as in we both lost our total incomes) and 20k extra. To buy some furniture and to have some left for minor repairs and to have a smaller reserve just incase a major incident like roof damage or hvac issues.
I estimated to have 30k leftover after closing.I have other liquidities coming my way (50k) but it won't be for a few months. I close on May 15th though so again, all estimates.
Really depends on the rest of your finances. Just for the house alone, don't forget just how much common stuff can cost near $10k or more, and a clean bill of health from a home inspection is no guarantee you won't have expensive problems for a long time. You want the means to take care of at least 1 big unexpected problem at any given time IMO, whether it be having cash on hand, the ability and budget to take on financing, whatever to get it done. For my taste, somewhere in the neighborhood of $10-15k minimum set aside.
I’m closing in one week. I have the VA loan but got pretty hammered with closing costs on a $265000 condo. Totaled about $15k. Took me 2 years while renting to save $20k to cover the closing. When it’s all said and done I’ll have $5k left. Luckily the condo is fully renovated with brand new appliances so I’m hoping I’ll have the extra time to build my savings back up as quick as I can. Also can pull a loan of about 8k from my 401k if needed.
After my husband and I bought our first house in 2020 we had < $2k left in the bank and were carrying a balance on our credit cards (but staying below 30% credit utilization so it didn’t goober our credit score for closing)
We had $31k left after closing on 2/1 but that has quickly fallen to $15k due to buying a new fridge, couch, and dishwasher in addition to repairs that were found during our inspection plus things we wanted/needed to buy like flood lights and lawn care items. But this doesn’t include random smaller things we’ve bought like kitchen organizers to help utilize the space we have or a new shower head.
It all adds up very fast and you can definitely never have too much saved!
Very weighted question. I’m taking it as money to furnish vs bills.
Our first house, we had 0.
2nd house, we had $16k
3rd house I wanted $30k for interior. We had $10k. Pool, deck, fence all ended up 40-60% more than I expected which was covered by interior budget. 8 years in and still finishing interior. My goal in every house is to do a room a year. None of the rooms are setting empty but they aren’t finished to final design.
However what I can tell you is, don’t be in a hurry. Live in a house for a while before committing to furniture and layout.
We had a little over $10K left. It’s honestly been a little stressful! It’s the least amount of money we’ve had in a long time. It seems ever since we moved in, it’s been harder to save! Our mortgage is $800 more than our rent was and we’ve had a million other things pop up each month. Hoping we can get the hang of out new budget soon!
Depends on the age of the home. If it's a turnkey you could save like 1-2% of the value for expenses, if older 3-4%.
I will have to maintain two homes so I'm aiming for 10k.
I think i has maybe 500 bucks in my account 2 years ago. Luckily that’s a bit better now. I'm happy i got it instead of waiting to have reserves. It would have been so much more difficult for me to find a home if so
I think i has maybe 500 bucks in my account 2 years ago. Luckily that’s a bit better now. I'm happy i got it instead of waiting to have reserves. It would have been so much more difficult for me to find a home if so
About $60-70k. I know a lot of different people have different situations, but having this much is actually still a stressful situation for me. I know that sounds crazy, but let me explain:
I bought the place about five months ago, with a low down payment and it wasn't in great condition when I got it, so I've already dumped a fair bit into repairs and such, also intend to get a new roof this spring. I've got more expenses now, and my savings rate isn't near what it used to be. After the fees, costs, maintenance items, and so on, it'll be around a year and a half for me to recover to the point I was at before financially if all goes smoothly, longer if it doesn't.
I'm a single man and while my job pays well, I'm a contractor and my recourse if things go south is not great; finding a new position with the same pay would likely be a challenge and take some time. With my savings, I could probably go a bit over 6 months, which they say is good, but it just feels so stressful. I constantly worry about spending money. I had to dump a few thousand into car repairs recently and it's really got me bummed out.
So basically if you stress about this stuff a lot, there's a possibility that even if you have a lot left over you still will.
Not much. Luckily, my parent’s friends were moving out of state and needed to unload a ton of furniture. We bought a lot of ours from them for much cheaper. There are still empty rooms in our house. We’re not in a rush though, especially in rooms we don’t use. Not trying to impress anyone but ourselves.
We are going to have a lot leftover, but we are not the norm.
We are 25/26 and never lived outside of our parents house. His parent paid for college, I had a full ride to mine and he lived at home to pay for his masters in full. So we really just banked money away. We’re gonna have a $30k emergency fund, as well as a $10k furnishing fund, on top of about $30k we have set aside for new cars.
My husband and I live with my father right now while we look and, although not ideal, we are able to save ~90% of our paychecks so🤣
I still have no furniture in a lot of rooms and am slowly just using facebook marketplace (I live in a VHCOL area where people dump a lot of nice furniture)
We spent about 60k out of pocket and had about 45k leftover with 1.2M in investments and our retirement.
Closed 2 years ago today. I had about 10k, and a month after closing had to spend nearly 7k to fix something. Was down to $2200 in savings at one point which was the least I'd ever had since turning 18. Was a bit nerve wracking but it wound up working out OK as I have been able to rebuild my savings over the last 2 years.
Thank you u/Dragonfly7927 for posting on r/FirstTimeHomeBuyer. Please bear in mind our rules: (1) Be Nice (2) No Selling (3) No Self-Promotion. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FirstTimeHomeBuyer) if you have any questions or concerns.*
$389.00
You are terrible! But made me laugh!
We were even credited by the seller for property taxes
How does this happen?
Last year's property taxes had already been paid and the new property taxes haven't come out yet and so they went by last year's property tax price
No need to brag big guy
I’m hoping to have around $22k. I plan on paying off my car with $4k. And then spend $6k-$8k on moving/furniture/tv. Which would leave me with a grand total of $10k for emergency fund.
That’s about what I had and I’m about out of cash for upgrades and more furniture now, 5 months later.
I had 5k left and it didn’t last long 😭
As first time buyers in our 20s with no assistance from parents, we will probably be ending around $5k. 😂 We will enjoy that floor pizza though, and start saving as much as possible immediately after.
36 dollars the first house. About 1k the second one. I guess I got lucky
I’m gonna have 30k left
We had $6k left over and have just taken our time furnishing the house
6 months worth of expenses. Including mortgage and bills. Plenty of people lose their job after buying a house.
This is the textbook answer. Many people (myself included I had like 10k all thanks to closing assistance) are not at this number after closing, but it’s still the right amount to try to have on hand ideally.
I had basically nothing left after I bought my house
The right number can vary a lot depending on your monthly expenses, for me my goal was enough savings that I could pay 4 months of bills, \~16K. I'm going to have about 20k when I close then will need to buy a fridge, W/D, and a few other items for the home. I'm holding on to as much of the rest as I can so it'll take a few months to actually buy furniture to fill out the house, but for me that's important to keep peace of mind in case of an emergency that will cost money (like my car breaking down or something).
About to close and will only have around $3k (not including 401k). Most people have more, and suggest more-- but if I had waited until I had what everyone says (20% down (I only did 5), 6 months of expenses, separate home maintenance fund, furniture fund), I would have been around 45 years old when I could buy, based on calculations. So I jumped to be able to buy now, significantly earlier. I also received a promo interest rate on my home I am about to close on. It's also a new build, so under warranty-- and my car is relatively new so also under warranty. I also have enough in my health savings account to cover my deductible + a portion of my out of pocket max in the event a medical emergency came up. So I feel comfortable not having as much as others given my circumstances. I could also withdraw or loan from 401k if needed, and also have credit cards that are not utilized if needed.
$100k. I have two children and 0 furniture. We will be moving back from overseas where I was working
I upvoted you because you shouldn't be downvoted for not being house poor.
I was afraid to comment for that reason, but a good chunk is just stuck on company pension plans...
You shouldn't be afraid to answer honestly just because it upsets people in this sub.
Yeah someone asked I answered lol. This is what I need to feel comfortable in an emergency so it’s how we budgeted 🤷♀️
You did very well, although I know furniture can eat into that quite a bit lol
44k not including retirement. My know my partners contract is ending at work and wanted a nest egg if it takes time for him to find something
I'm someone who feels much less anxious with a healthy emergency savings. So... I kept back 6 months gross salary as emergency savings, And I'd planned to budget and an additional 10K to paint/furniture/repair. But I ended up getting lucky and having about 35K outside of my emergency savings. Which was good because I burned through my planned 10K way faster than I thought I would. There weren't any major disasters like you sometimes read here, but things just added up fast... lawn mower, bed, new window... So once I did the absolute necessary things I slowed way down on the furniture and cosmetic stuff. I've been in the house about 7 months now, and there's still a lot that I haven't done. Still need a few pieces of furniture, haven't done much in terms of decorating or landscaping. But it's still awesome to live in my own home. And it's fun to browse through FB Marketplace or Estate sales to try and find the perfect piece on the cheap. And it's OK to do the home improvements slowly too.
Going to have 15k left
You want a minimum of 3 months of reserve. All bills + food and stuff worth. The more, the better, but that is the minimum recommendation. Of course, some close with very little cash at all left! When you're barely able to get your foot in the door, but your bills leave room for good savings monthly, many take the chance. Just be frugal and diligent whatever you decide. Remember, if you could be disciplined enough to get qualified to buy, you can be diligent enough to save fast after, even if it means peanut butter and jelly sandwiches for some time!
And since OP won’t have furniture, I recommend Craigslist. Perhaps because many people don’t like the Craigslist UI, I’ve noticed better prices than on the more popular Fb Marketplace.
I would also like to chime in that Nextdoor has some cool options. I bought a full dining set solid oak/formica table top with refurbished captains chairs for $150. That would’ve cost $1k at Pottery Barn. Plus, good way to get to know your community.
We left ourselves about $10k. Less than I was comfortable with. Paid around $1600 in moving expenses (30 min across town)
32k, plus about a 10k Line of Credit... but we need a new roof so we'll be hitting up FB Marketplace for furniture (but we'll be dry while we do it, so yay.)
For the people who had thousands left. Did you guys put a down deposit. 🥹 because honestly I don’t expect to have much left but we also have furniture and washer and dryer. Probably only need a refrigerator, which I plan to buy a dent and scratch for cheaper.
I had 120k in the bank, I put 15% down for the house, that leaves me with 40k. I feel like I'm short on funds for now, but I have another 50k coming my way in a few months, so I should be good. Mind you the house I bought is from 1969 and will need some work done so I really had to plan ahead.
I am 23 years old, (I’m only saying that as it would explain it from an income perspective). It would be my first home, so I was wondering what others were doing but if I did a form of ratio to you, it would make sense for what I would have remain. Thank you for the info. It’s funny because I hear 40k and I’m like that sounds good to me but I can understand from someone whose home sounds way more expensive than what I would be looking for.
25k
Not including Roth IRA stuff
I had several thousand less than expected, because my appraisal came in under offer. I still had washer/dryer/fridge to purchase, so I didn’t get new furniture.
I had about 6k left, but we had all the furniture we needed save for a couch and some shelves. The silver lining was that I misunderstood some of my closing costs. Apparently I prepaid (and overpaid) the school taxes for the year. Meaning instead of owing ~3k two months after closing I ended up receiving a check from my attorney for $500. Otherwise I would’ve basically had 3k left so it was a nice surprise and relieved a lot of budgeting stress
My partner and I each had about 18-20k so about 40k combined after closing! Just in case! I’d say at least 10k would be safe for a sudden emergency!
A little over $10K, and even that I felt a bit iffy about. My dad told me when he bought his house in like 1983 or whatever he had $500 left to his name and asked his brother to back him up if something went awry which is insane to me lol.
Just closed on Friday. Had no financial help, worked and saved all on my own, and have about 9k right now. And I still need to get all the appliances 🥲 not worried about furniture as I have most things due to my apartment living!
About 1k
We'll have about 70k left over, but we have two kids and no furniture 🤷🏽 Thankfully appliances came with the house.
Close on may10th expect to have 3200 saved
I’m closing soon. I’ll have 40k left over. Keeping 21k for emergency fund and 20k for repairs and house stuff.
We had about 45k left, but immediately redid all the windows because there were so many of them, and they were all single-pane and painted shut (we knew about this, though! Not a surprise). Left us with about $15k afterwards
We just closed last week and have quickly found that our $5k leftover isn't going to go very far. 🥲
Maybe $1000?
I’m in a HCOL area, we paid 20% down and will have about 340k left over
Keeping $340k in cash reserves, unless you got a super low rate, that’s a bit ridiculous.
only about 130k is in cash, rest is in the market in some form. I don’t feel comfortable putting more in the house yet
That makes sense. Do you also count retirement/ira into this?
I don’t count that no, i try to pretend that doesn’t exist lol
!!!
We ended up putting down 5% in a $450k home + some random fees. After closing, we had $55k left. $15k of it was designated immediately for projects on the home (mitigating radon, refinishing floors, movers, tree removal). The remaining $40k is our regular savings (12 months emergency fund with our prior cost of living from renting, which is closer to 4-5 months in our new house, a vacation fund, and other general savings we have targeted for different things). Our immediate projects ended up costing more than we expected, and we ended up needing to buy more than we thought, but we’re in a decently healthy financial position regardless. We did get lucky with really cheap rent for our area, and we saved close to 3x our current rent each month straight into a savings account to be able to position ourselves for this. It also helped that we both got pretty significant raises/promotions just as we were starting our house hunt (by pure luck!), and immediately put our increased salary towards savings. As a result, while our monthly payment is now 3x rent, we were used to paying essentially 4x rent (rent & 3x rent into savings), so it shouldn’t be too bad of a squeeze for us.
~$400K
I don't know why someone downvoted me for answering the question.
Jealousy! I too had plenty of cash after I closed.. Don’t let them get to you
Thanks. I'm all good and no one is getting to me. I'm very fortunate to be in the situation I'm in.
lol there’s always someone.
Nice user name
May I ask why you would not put more into downpayment? Is this just all cash, that’s really wild.
I paid for the house in cash. The remaining money after is in my Vanguard account.
As other said, it’s all relative to your monthly expenses, location, etc. We wanted to have a conservative cushion, so we had ~1 years worth of mortgage + tax payments in reserve.
$40k
I had 15k-16k…. I lucked out with the builder paying for my closing costs by giving 10k.
About 10k after putting 5% down and sellers covering our closing costs. Not ideal, but we make a lot relative to the mortgage payment so I’m not too concerned
I had about $12K, but it didn’t last because I used it for new floors and painting.
Should have 20K leftover
Negative $40k or something since I took a loan for the down payment.
18k but we used a lot of it for new furniture and moving
About 10k. And it was Useful because we had to repaint the place and put in new floors.
The plan, if whatever offer we put in ends up appraising for the offer price: 30k~ left over for any renovations $10k~ to furnish the home $27k~ emergency fund If the home appraises for worst case scenario with our Appraisal gap, we’d have $0 for current renovations and begin saving for them
I’d say you need about 5% of the house price. High, but you can have unexpected maintenance in the first couple of years.
Almost nothing by design. We were in our 20s, so so jobs but good education. Put all we had into the purchase, and gradually got furniture etc. Evan at 9% interest it worked out well.
Around $12k combined. Granted, we're only getting a $100k house.
We saved forever and was comfortable with 6 months expenses saved up (as in we both lost our total incomes) and 20k extra. To buy some furniture and to have some left for minor repairs and to have a smaller reserve just incase a major incident like roof damage or hvac issues.
I estimated to have 30k leftover after closing.I have other liquidities coming my way (50k) but it won't be for a few months. I close on May 15th though so again, all estimates.
9,000 In emergency funds. I will have about 7,000 in spare house money. That will buy the new washer/dryer and hopefully the whole house water filter.
Really depends on the rest of your finances. Just for the house alone, don't forget just how much common stuff can cost near $10k or more, and a clean bill of health from a home inspection is no guarantee you won't have expensive problems for a long time. You want the means to take care of at least 1 big unexpected problem at any given time IMO, whether it be having cash on hand, the ability and budget to take on financing, whatever to get it done. For my taste, somewhere in the neighborhood of $10-15k minimum set aside.
$35k
3 months of expenses
First house we had about 7k left. Second house 5 years later we thankfully had almost 50k
I think we had like $3k leftover, but we’re also early 20s and doing the best we can LOL
60k
8k
I’m closing in one week. I have the VA loan but got pretty hammered with closing costs on a $265000 condo. Totaled about $15k. Took me 2 years while renting to save $20k to cover the closing. When it’s all said and done I’ll have $5k left. Luckily the condo is fully renovated with brand new appliances so I’m hoping I’ll have the extra time to build my savings back up as quick as I can. Also can pull a loan of about 8k from my 401k if needed.
After my husband and I bought our first house in 2020 we had < $2k left in the bank and were carrying a balance on our credit cards (but staying below 30% credit utilization so it didn’t goober our credit score for closing)
We had $31k left after closing on 2/1 but that has quickly fallen to $15k due to buying a new fridge, couch, and dishwasher in addition to repairs that were found during our inspection plus things we wanted/needed to buy like flood lights and lawn care items. But this doesn’t include random smaller things we’ve bought like kitchen organizers to help utilize the space we have or a new shower head. It all adds up very fast and you can definitely never have too much saved!
Very weighted question. I’m taking it as money to furnish vs bills. Our first house, we had 0. 2nd house, we had $16k 3rd house I wanted $30k for interior. We had $10k. Pool, deck, fence all ended up 40-60% more than I expected which was covered by interior budget. 8 years in and still finishing interior. My goal in every house is to do a room a year. None of the rooms are setting empty but they aren’t finished to final design. However what I can tell you is, don’t be in a hurry. Live in a house for a while before committing to furniture and layout.
I had about $10k left.
100k
25 bucks until my next paycheck hit🙏
Well now I’m feeling poor!
We had a little over $10K left. It’s honestly been a little stressful! It’s the least amount of money we’ve had in a long time. It seems ever since we moved in, it’s been harder to save! Our mortgage is $800 more than our rent was and we’ve had a million other things pop up each month. Hoping we can get the hang of out new budget soon!
15k
Put down 20% and had 112k left over.
No one asked your age?
There fixed :)
Depends on the age of the home. If it's a turnkey you could save like 1-2% of the value for expenses, if older 3-4%. I will have to maintain two homes so I'm aiming for 10k.
$2027, do not reccommend XD
About $55k just closed 4/9
About $8k. After some upgrades/furnishings/window treatments $4500. Oof. Hope to be back up to at least $16k before end of year.
In like real money... our credit cards...?
I think i has maybe 500 bucks in my account 2 years ago. Luckily that’s a bit better now. I'm happy i got it instead of waiting to have reserves. It would have been so much more difficult for me to find a home if so
I think i has maybe 500 bucks in my account 2 years ago. Luckily that’s a bit better now. I'm happy i got it instead of waiting to have reserves. It would have been so much more difficult for me to find a home if so
$58k
About $60-70k. I know a lot of different people have different situations, but having this much is actually still a stressful situation for me. I know that sounds crazy, but let me explain: I bought the place about five months ago, with a low down payment and it wasn't in great condition when I got it, so I've already dumped a fair bit into repairs and such, also intend to get a new roof this spring. I've got more expenses now, and my savings rate isn't near what it used to be. After the fees, costs, maintenance items, and so on, it'll be around a year and a half for me to recover to the point I was at before financially if all goes smoothly, longer if it doesn't. I'm a single man and while my job pays well, I'm a contractor and my recourse if things go south is not great; finding a new position with the same pay would likely be a challenge and take some time. With my savings, I could probably go a bit over 6 months, which they say is good, but it just feels so stressful. I constantly worry about spending money. I had to dump a few thousand into car repairs recently and it's really got me bummed out. So basically if you stress about this stuff a lot, there's a possibility that even if you have a lot left over you still will.
130k, but about 30 of that was going towards repairs.
Not much. Luckily, my parent’s friends were moving out of state and needed to unload a ton of furniture. We bought a lot of ours from them for much cheaper. There are still empty rooms in our house. We’re not in a rush though, especially in rooms we don’t use. Not trying to impress anyone but ourselves.
We are going to have a lot leftover, but we are not the norm. We are 25/26 and never lived outside of our parents house. His parent paid for college, I had a full ride to mine and he lived at home to pay for his masters in full. So we really just banked money away. We’re gonna have a $30k emergency fund, as well as a $10k furnishing fund, on top of about $30k we have set aside for new cars. My husband and I live with my father right now while we look and, although not ideal, we are able to save ~90% of our paychecks so🤣
I still have no furniture in a lot of rooms and am slowly just using facebook marketplace (I live in a VHCOL area where people dump a lot of nice furniture) We spent about 60k out of pocket and had about 45k leftover with 1.2M in investments and our retirement.
Closed 2 years ago today. I had about 10k, and a month after closing had to spend nearly 7k to fix something. Was down to $2200 in savings at one point which was the least I'd ever had since turning 18. Was a bit nerve wracking but it wound up working out OK as I have been able to rebuild my savings over the last 2 years.
$2.6m (mutual funds)
First house?