These smart money strategies helped a millennial couple buy their first home for $599,000. (via CNBCMakeIt)
Two years ago, Ver Starr decided to calculate how much rent he and his fiancee, Jenelle Yee, had paid over the past four years they lived together.That's when the Los Angeles-based couple, now 28, started saving money specifically for a down payment.
This included credit agency reporting, title search, escrow fee, recording fee and the loan origination fee."There were definitely a lot of low points in the process," says Starr about the stress of trying to find a new home. "We were looking for a place for almost a year and a half." They had to pass up two homes they loved because they weren't within their budget and, at one point, lost a bidding war between two other buyers on another property.
In the end, they stayed just under budget with their $599,000 home. Their current monthly housing costs are higher than they were when they were renting by about $800,
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