I don't know about you, but as a single 36-year-old with a not-very-consistent employment history, I'm not really expecting to own property anytime soon (or ever, to be honest).
Even if I were to experience a sudden windfall — like an inheritance or a lottery win (unlikely since the only lottery tickets I've ever played were scratchers from family members and a "fun" boss) — I don't know if I'd even want the stress that comes along with homeownership.
Of course, I'm probably in the minority here. Plenty of people still dream of owning property, however difficult the path to doing so may be.
Here are 19 people from Reddit who swung it, and how they managed to do so:
1. "My other half did this a few years ago, she saved every spare penny from age 16 up to 30 and then put an $80K deposit down. No help from any one, didn't live with parents beyond 18, etc. but she did work three jobs at one point."
2. "My secret recipe: Being born at the right time."
"One year out of college in 1993 I bought a condo for $76K on a $24K salary job I'd had for six months, put $7K down.
That same condo is $350K now, which would make the monthly payment about $2,300 on a $280K mortgage when including P&I, HOA, RE taxes, and insurance. Add another $100/mo or whatever PMI would cost if you didn't have the $70K down.
I don't know how people do it these days.
My father's house story is even more ridiculous. Bought a 2,500 Sq ft ranch-style block home in Tempe, in 1970, for $23K. That was on a $12K salary with my mother staying at home to raise us. Also 2 cars in the garage. That house is valued at $615K now." —u/rumblepony247
3. "Inheritance, we never would have afforded it if my wife's grandparents hadn't left her money."
4. "My wife and I bought our house just before they went batshit, still cost $360K. We were lucky with the deposit, and being able to access first homebuyers' perks. We're single-income, my position started at $65K/year salary, however, it is super busy. So much so that the company pays overtime to salaried. That's the secret — 60-hour work weeks. Couldn't have done it without the OT."
5. "I bought in 2009 at the literal bottom of the market. If it weren't for a worldwide economic catastrophe, I couldn't have afforded a house."
6. "Dual income, no kids and bought house for $200K in 2015. Now pushing $400K on Zillow — couldn’t afford that price."
7. "Lived in a mobile home for a year to save up for a down payment. Bought a townhome in 2019, and refinanced in 2021. We got very lucky with our timing. Our mortgage is $600."
8. "Tech industry. Software sales has been good to me."
9. "Fell in love with a guy who worked in tech ($kerching$) and my parents gifted us part of a deposit, which I am slowly paying back. No way could I have bought a house by myself."
10. "Bought in February 2021 when the interest rates were still below 3%. If I waited a few more months I would’ve been screwed."
11. "Honestly? I’m one of the privileged few with wealthy enough parents and a small family so they’re currently in the process of buying me a house at the moment…"
"I obviously am very grateful for what I have but I do feel like utter shite about it when there are people working full time who can’t find an affordable flat in a decent location.
I’ve done literally nothing to deserve this, in fact, I’ve been a little shit growing up and drove my parents insane while wallowing in self-pity and depression.
…This probably won't be a very popular response but I wanted to be honest — I hate the state of housing in [the UK]." —u/MusicianMaster8493
12. "Dual income and equity from another property."
13. "The secret? Timing. We were lucky enough to get a cheap house, fix it up and make some changes, sell it, and use that as a down payment on the new house we bought pre-pandemic."
"Bought house in 2012 for $100K at the peak of its downfall, put $8K down. Sold the house in 2018 for $172K, took 80K of that for a down payment on a new $300K house. Financed $220K, refinanced for 3.15% interest just a few years ago. Payment is around $1,153/mo.
For a living I am a sys admin, and have a second income from my wife. But we have two kids which are very expensive." —u/MercenaryOne
14. "Bought with my partner. Essentially the pandemic slashed our regular spending about 50%. We always planned to buy but had never really been serious savers, obviously everything being shut for almost a year changed that."
"We had a small amount saved before the pandemic, but about 70% did come during that time.
We were renting a one-bed apartment not in London. No kids, no major financial commitments." —u/Harrry-Otter
15. "Work-from-home jobs changed the game. I live in the cheapest area."
16. "My sister, who is a millennial, inherited a house from the neighbour when he passed away. She was nine when this happened. And here is me, still working my arse off to pay my way."
"As bad as it sounds, he was gay, he didn’t have any family or a partner, he had no children, all he had was his dogs.
My sister used to visit him and play with the dogs in his garden on a regular basis, there was nothing sinister in it, he was just a very lonely guy who found friendship with his neighbours." —u/Nuker-79
17. "Three things got me there: a wife to also save money, the [UK] government's help to buy scheme, and my biological father dying."
"That was eight years ago, and we are now kicking the government off the deed too, so will own over 50%. That one is sponsored by the wife and by my grandma passing away a couple years back.
It's near impossible to do this by yourself, prices are crazy." —u/Caacrinolass
18. "I bought a house for cash a little under two years ago. I worked every possible extra job for almost six years to save up and lived very cheap. It is very possible. I would never take a loan."
19. "I lived with parents until 25 working a less-than-minimum-wage job. When I was 23 I built a VW campervan and spent every penny and hours building a van eventually worth £8K. During that period I did any odd jobs, worked mad hours, and wheeled and sealed anything I could. Eventually realised I needed to sort my life out, sold the van, did my HGV license, and put a deposit on a house £5,250 (5% on a 3 bedroom) in a not-brilliant area. I have since renovated and sold that house and now live in a better area."
