The Picard Maneuver@piefed.world to Mildly Infuriating@lemmy.worldEnglish · 29 days agoCharging to tour rental properties...media.piefed.worldimagemessage-square173linkfedilinkarrow-up11arrow-down10
arrow-up11arrow-down1imageCharging to tour rental properties...media.piefed.worldThe Picard Maneuver@piefed.world to Mildly Infuriating@lemmy.worldEnglish · 29 days agomessage-square173linkfedilink
minus-squarefishpen0@lemmy.worldlinkfedilinkEnglisharrow-up0·29 days ago4 people with 5k each can get almost 20% down on a 350k propery. Thats pretty decent except in the most expensive cities
minus-squareKraven_the_Hunter@lemmy.dbzer0.comlinkfedilinkEnglisharrow-up0·29 days ago 4 people with 5k each can get almost 20% down on a 350k propery Do you think that 20% of $350k is about $20,000? I feel like I’m missing something important here .
minus-squarecabb@lemmy.dbzer0.comlinkfedilinkEnglisharrow-up0·29 days agoMaybe first-time home buyer programs? But those are like 3% typically so it wouldn’t get you there and that’s before including closing costs, moving costs, and possible repairs.
minus-squareBronzebeard@lemmy.ziplinkfedilinkEnglisharrow-up0·28 days agoExcept they explicitly said “nearly 20%”. Which is blatantly false. Terrible at basic math. And this is why people will remain poor
minus-squareStupidBrotherInLaw@lemmy.worldlinkfedilinkEnglisharrow-up0·edit-228 days ago350,000 x 0.20= 70,000 70,000 / 4 = 17,500 17,500 - 5000 = 12,500 Each person would need 17,500 for a 20% down payment, 12,500 more than the 5000 quote.
4 people with 5k each can get almost 20% down on a 350k propery. Thats pretty decent except in the most expensive cities
Do you think that 20% of $350k is about $20,000? I feel like I’m missing something important here .
Maybe first-time home buyer programs? But those are like 3% typically so it wouldn’t get you there and that’s before including closing costs, moving costs, and possible repairs.
Except they explicitly said “nearly 20%”. Which is blatantly false. Terrible at basic math. And this is why people will remain poor
350,000 x 0.20= 70,000
70,000 / 4 = 17,500
17,500 - 5000 = 12,500
Each person would need 17,500 for a 20% down payment, 12,500 more than the 5000 quote.