(living in a rental) - You don't own the property, you're paying someone else's mortgage! (having a mortgage) - You don't own the property, bank owns the property! (paying off the mortgage) - You don't own the property, the government owns it, and you're paying them taxes every month! ...Just don't listen to anyone. Period.
@@ee.es00 realistically the average joe won't have 599k in cash on a property. It's actually smart to get a home and leverage that money and buy more homes or duplexes/triplexes if someone actually has 599k in cash.
I personally think it's best to rent when the market is high(no property tax). And buy a house when the market is low, and hold then sell when it's high if you wish.
Would also like to point out that having the right partner with the same financial goal as you is the best and probably the most important financial investment you'd ever make
Red Unicorn average is hour and a half. Could take two hours some days cuz of transfers. But specifically, it’s two buses and the expo line in LA to Santa Monica. If it’s off and on the next transfer, could be an hour 15. But if I were to drive, it’s the same amount of time and I’m driving. In the last year, I kid u not, I read probably over 20 books and can hop on my laptop to work on the commute.
These are the type of feel good Millennial success stories that I love watching. Good luck with your Future. You've taken that first important step up the property ladder
There's nothing better than paying a mortgage that's below the rental rate. I've been paying the mortgage/rent differential for ten years and it's a good feeling. And I checked with my bank, I own my property.
Acho Arnold That’s what separates responsible people from irresponsible people. Responsible people have plans and wouldn’t buy a home unless they know for sure they can afford it. Irresponsible people spend more money than they make and make terrible financial decisions. Yes, sometimes unexpected things could affect people’s (even responsible people’s) ability to pay their mortgage and could lead to them losing their home, but the same thing could happen to renting when they couldn’t afford to pay rent, which would lead to eviction. The difference is that after 30 years of consecutive mortgage payment, the home owners have equity in the entire home, don’t have to worry about finding a place to rent, dealing with rent increases, or securing a roof over their heads when they retire. And after 30 years, their home likely appreciated - meaning they could sell it for a lot of money. But on the other hand, renters have zero equity after renting for the same 30 years and would have to deal with moving constantly, paying higher rent each time, being afraid of not having a home when they retire, etc. Home ownership is an absolute must for everybody who wants a secured future. It doesn’t have to be a fancy one or one in a big city; it could be a basic home in a small town, too. I can’t imagine renting for life because I’m afraid of the mortgage payment. That’s just a bad financial move.
@@edwink1467 I get your side of the argument. I'm not totally against buying a house. But there'a another argument that the excess money on home ownership vs renting could bring you more money if invested wisely. More money than the equity of your house. Also, there are added benefits. There's a high chance you won't buy a house in the city because of high prices which increases your commute daily but for some people, their time is worth much more to them and it's better for them to rent in a city an have less commute/more money than buying a house with a 1-hour commute. etc I can bring you several arguments like this. My point is. 1 option isn't absolutely better than the other, Circumstances matter!
Like me! My wife and I broke 200k last year. We own very expensive luxury cars, live in a 1.3m beach house in Southern California, eat out every day, go out and spend lots of money every weekend, have a daughter and one more on the way and we are living paycheck to paycheck right now. However we are a homeowner and have very provocative careers
moscantamp from your comment I can see a lot of ways of cutting expenses , I have a high salary and dug my self into a big hole that I had to live frugally for 2 years to get my self out. The most difficult part is convincing the family to buckle down after they are used to luxury. But the longer you wait the more you are f’d
Yes and no. They live in Gardena. It's an arm pit. I'm not dissing them by saying that. But Gardena is not what you come to LA for. So, that took a lot of discipline to decide to opt out of the fancy zone...because they are not in the 'fancy zone.' They are in Gardena. It's where you go, usually, after you have been married 10 years and have a kid on the way. And people will make you feel like you live...in Gardena. You have to be an individualist to make that decision so early on.
@@swicheroo1 I mean, it's still the LA metro area. Not much of a drive if they wanna go into the city for fun on the weekend, during the week they're working anyway. As far as gardena not having clout...who cares?
Actually, I was surprised at this since Gardena is a part of LA and gets services from LA County. The better phrase would've been 20 minutes from Downtown LA.
hahn310 Gardena is a part of LA county. DTLA is more like an hour+ away in average traffic. Dude already says he commutes 90 minutes to work to Santa Monica which is about the same distance to DT.
Why so many haters in the comments section? Are you guys mad because they were able to put down 10% deposit for the house or are you guys mad because they are couple? And you guys are still single? Be happy for people your time will come.
Able to put down 10%! That's not much. Historically banks required 20% and ensured housing payment was less than 25% of household income (usually only one person working). If so, prices for land and housing would not be soo inflated.
as a young woman i would rather buy my own studio or 1br for just me and not be tied to a partner or have shared investment with someone i am not even married to.
You seem to be the only person in the comments with some sense. I think people do a lot of this stuff so they be the couple who has it "ALL". Its better to do what's best for you than what people want you to do.
Crazy they bought this townhouse, I know which one too. The location they live in is very nice and not far from the beach (maybe 15 mins), weather is good too. Although they are far from the "hip" areas of LA but as someone who is born and raised in Los Angeles, I would live away from the city
@@amsd1231 Don't forget the San Pedro seafood market, Redondo beach + pier, Del Amo mall in Torrance, and also the outdoor outlets in Long beach. Oh and also the numerous food places from Latin America,Asia, and sometimes even infused items too (which is all near Gardena). So pretty much they got a really cool spot to live in.
LMFAO I love the difference in their computer set ups: Girl: *super neat , white colors, clean open space.* Guy: RED LED KEYBOARD WITH VERTICAL SCREEN GAMING CHAIR HUGE MOUSE PAD
Jenelle and Ver seem very level headed about their housing search. Funny thing is I know exactly where this community is because my husband and I used to live nearby. I wish they talked about what the HOA fees are and if there's any amenities. Commute to Santa Monica sounds brutal though :(
That's so cheap compared to SF. Fixer upper in one of the rougher districts all over 800k and easily over $1 mil. Guess it's all perspective and what you're used to... Not easy out here these days
I would feel such a burden to buy a house on mortgage for 30 years at that price. I just think there is too much unpredictability in the housing market to know whether the price is going to crash.
That's the problem with people these days. What if you get laid off or unforeseen medical issue in which your health insurance doesnt cover everything. 😵 That's how people end up in the street, homeless.
I brought my first house in 2017. I have no kids and not married. Good credit. No student loans. I watch what I spend. I live in Virginia and work in DC. I am only 36 years old.
Ver Starr that’s wild! I have a similar sized 2017 build house in Metro Atlanta worth $300k, 30 minute train ride to the office in the city (though I work remote 4x a week). Salaries are similar to LA. I’m envious of California weather though. It gets too hot and too cold in Atlanta.
Ver Starr had a job in Midtown Atlanta that let me work from home 1x a week in 2014. Then another job in 2017, 2x a week, now I’m at another that’s 4x a week, even though I’m not too far from the building. Hope more companies advance teleworking, real estate has gotten too crazy
I just bought a town house in the Bay Area two months ago. It’s smaller than this and it listed at 700k. I think they got a great deal, especially since it’s a new home. Mine was built in 1974 lol
My husband and I started with a condo first which we made 120k after fees and commission from selling it. We then used that to put down on a single family home and also paid off our car! We were lucky and also got a good apr 3.78. Right now the is a good time to buy with low interest rates!
Congratulations. I feel like negative comments aren't allowed here. This is a great achievement for both of you. House is very nice, area, close to work etc... Not all the things that works for other's works for everyone. For sure this money gets you something else in different states but you are where you want and that's amazing!
I’m a fan of Dave Ramsey, however his opinion isn’t Bible. They seem to be doing quite well for themselves. They have a fixed rate and they will more than likely earn equity. Much better than paying long term rent. The owner mentions in the comments below he still saves about 50% of his income. Doesn’t sound very house poor to me. They can also rent out a bedroom or do Airbnb. Options are limitless
CA property taxes are fairly low at 1.2%, but since they are based on the purchase price, you end up with $700 per month. I am sure the school in the are are not good, because Gardina is a below average neighborhood with considerably lower property values.
@@942687032679840126 just for comparison purposes, I am from New Zealand and in my city it is 0.0018% of the government valuation. (Government determined value is usually lower than the purchase price).
Lol to people who say the bank owns it. Bought our first house for $485k a year and a half ago and just had it appraised at $640k. That profit in equity is ours.
You guys did a good job 👏 especially saving that much money, not buying too much home, the credits towards closing costs were awesome, and the house is beautiful! Plus you’re so young and have accomplished buying your own property in one of the most expensive places in the world. People are haters because they could never buy a 600k house 🏡
I bought a triplex in LA for 850K three years ago. I live in one unit. And rent out the others. It's actually kind of awesome. The tricky part was coming up with 25% down payment (I wanted to avoid PMI) and just having the credit history to be able to prove that I could beat out other people. If I want to sell right now, my property is valued at 1.3 million. I love it!
This couple definitely has their priorities in order. I do think its safe to say that for starters, they do make a good combined household income even in relation to California's high cost of living. They're better off than many. But the biggest takeaway is regardless of their income- they manage their priorities and expectations very well. They've put a bigger emphasis on savings and living under their means than spending every dime trying to live an extravagant lifestyle. I cant stress enough the amount of people i see that are living pay check to pay check and instead of saving money for a house or simply a better living situation, they'll buy a new or slightly used but expensive car instead.
that bit about agents not being paid by the buyers... that's what agents want you to think. It's baked into the price, meaning the sellers are aware that percentage is being taken out and so it factors in their decision of which deal gives them the most.
The price is good in santa monica, most stuff that nice is 800k, about 760 a square foot. Down pay is low, but they kept finances straight. Overall a good job in today's market.
Things are a lot more expensive in CA. I brought 3 townhomes in a gated community. They were about the same sf with a garage. They were $72k to $80k. I brought them about 2-3 years ago in Atlanta for rentals
3 bedrooms, 2 1/2 bath and 1500+sqf townhouse for $600k is a bargain compared to what you have to pay for a similar house in the SF suburbs (30+ min away from SF). And only 10% down? Wow! It must be much easier to buy houses in Southern CA.
Home prices are usually higher in the Bay Area but pay is also usually higher in the bay so it ends up being similar from my experience living in both NorCal & SoCal.
CONGRATS! Having a place to call your own is quite the accomplishment! Now be sure to buy investment properties and collect rents to offset that mortgage payment! Great job you guys!
I would like to read MORE about people living on $40,00-$50,000 a year in the Midwest. This is the top salery my husband ever made....and gthis was working for 32 years at his City job in IT, printers and cellphones.
Dang... that is quite the time. But u know people like seeing young people make stupid decisions with there money cuz that’ll get people to DESTROY THE LIKE BUTTON!!!
I should go on this show. Bought my first place at 25 years old with 20% down, 15 year fixed rate, and plan to have my mortgage paid off in the next 5 years (by the time I'm 35)
Depends how your living rent a beautiful 360 degree beach house in New Zealand and save thousands a year on lifestyle travelling several countries a year and saving for retirement lots of memories when pop my clogs not just work and mortgage also allows for working less and living more
Man I wish yall wouldve went with naca...no PMI and yall wouldve been able to buy the interest down and they are already lower. You wouldve saved about $500 more a month
Surprised that a software engineer gets only 100k. Including bonuses and stock options, his salary should be closer to 150k! He certainly deserves more for his work!
This is a great series and showcases to the rest of the world what we go through here in California. The same couple with the same budget in another state could be driving a Tesla and F-350 with 3000 square feet and acreage and money left over. Gardena is not a great area and commuting to Santa Monica is a nightmare. Public transportation in LA County is substandard, freeways are substandard and embarrassing, but, they have a nice place and set for success it seems.
@@VerStarr You guys are a great example how we ARE able to live in Southern California with hard work, education and income not living in a studio and unhappy. You are living well but not excessively which hurts so many here. They should do follow up stories for those highlighted here.
I get so shocked at the cost of living in other states. Where I live, you can practically get a mini mansion in an amazing neighborhood for that amount of money.
CNBC should make a show where they find people who have spending problems and have Graham Stephen come in and help them fix their financial spending problems.
I live in Gardena and know exactly where this townhouse is( Many townhouses are being built here lately). I was always curious as to what the complexes looked like inside. Gardena is a great area but there are many homes for sale in the area less than $600k. Good for them that they were able to purchase the townhouse, but damn, is it expensive living here.
this is the reason I moved out of Cali and to Houston. I get pay the same for my field and got a brand new 3700sqt house on a 11k sqt lot for less than 380k (no state income tax and gas price is dirt cheap)
I like your residence. In 30 years you can go back to this video and laugh at all the haters that said you made a mistake. All I see is a couple that have started their journey up the property ladder. Gotta start sometime and there's no better time than now
J J right? Really the basics in accounting. If you’re paying for it, it’s a liability. If they were rental homes with tenants in them bringing in a profit it’s an asset.
I'm saving so much to be able to purchase my own house hopefully when I'm 30 (now 28).BUT I'm gonna buy it in cash, no mortgage. Id rather buy tiny house than having mortgage
They could’ve rented a little longer to save more for a bigger down payment but then again it might not be the best financial decision to buy a house with someone you’re not married to. But if it works for them, great
@@WildDisease72 they house has 3 bedrooms.they can stay in one bedroom.and they can rent the two bed room for air bnb and also the garage they can modified it later for air bnb too.
What’s your budget breakdown? Share your story with us for a chance to be featured in a future installment. cnb.cx/32TYZ2K
If you got to Philadelphia PA do Upper Darby
I saw a comment below about SF. If you can profile someone up there that would be eye opening!
When will you do a Nashville one
If they should’ve waited to buy in 2020 rates are as low as 2%
Me:
Phone bill : $30/month
Car insurance: 130/month
Food Takeout: average $1000/month
Pedicures : $120/month
Salary $85k
I can’t wait for this!
The wait is over!
Hi Graham!
Graham Stephan he saves on cold brew so you know he chuckled because he got it from you lol
He bought a house by brewing his own coffee! You should be proud of that alone, Graham! Lol
Do an in person interview after your video review!
(living in a rental)
- You don't own the property, you're paying someone else's mortgage!
(having a mortgage)
- You don't own the property, bank owns the property!
(paying off the mortgage)
- You don't own the property, the government owns it, and you're paying them taxes every month!
...Just don't listen to anyone. Period.
The best is to buy cash. Yes you still have to pay property tax but what can one do... I think in some states it's quite low or non existent.
@@ee.es00 realistically the average joe won't have 599k in cash on a property. It's actually smart to get a home and leverage that money and buy more homes or duplexes/triplexes if someone actually has 599k in cash.
@@ee.es00 allodial title land patent amongst other things
I personally think it's best to rent when the market is high(no property tax). And buy a house when the market is low, and hold then sell when it's high if you wish.
@@ee.es00 one can vote to have them removed. That's what we can do.
Would also like to point out that having the right partner with the same financial goal as you is the best and probably the most important financial investment you'd ever make
Agreed.
That's if the relationship lasts forever. Just ask Jef Bezos 😬
N we want prenup, we want prenup yeahhh
Very true
Ahhh yes... commoditization of relationships .... can only end well..
"We do like that it allows him to have the comuter experience " wtf who thinks that 😂😂
Nobody that has been commuting for long
Lol it’s better than driving for that long
@@VerStarr only if you've got a good transportation system or easily it can take you three times longer or more taking the train
Deadass lol
Red Unicorn average is hour and a half. Could take two hours some days cuz of transfers. But specifically, it’s two buses and the expo line in LA to Santa Monica. If it’s off and on the next transfer, could be an hour 15. But if I were to drive, it’s the same amount of time and I’m driving.
In the last year, I kid u not, I read probably over 20 books and can hop on my laptop to work on the commute.
These are the type of feel good Millennial success stories that I love watching. Good luck with your Future. You've taken that first important step up the property ladder
There's nothing better than paying a mortgage that's below the rental rate. I've been paying the mortgage/rent differential for ten years and it's a good feeling. And I checked with my bank, I own my property.
I think you own the property as long as you can keep paying our mortgage. The minute that's no longer possible then things change...
@@ArnoldEwin Isn't that the same with rent?
@@robocop581 Yep I guess renting gives people flexibility everyone has a different price for it though
Acho Arnold That’s what separates responsible people from irresponsible people. Responsible people have plans and wouldn’t buy a home unless they know for sure they can afford it. Irresponsible people spend more money than they make and make terrible financial decisions. Yes, sometimes unexpected things could affect people’s (even responsible people’s) ability to pay their mortgage and could lead to them losing their home, but the same thing could happen to renting when they couldn’t afford to pay rent, which would lead to eviction. The difference is that after 30 years of consecutive mortgage payment, the home owners have equity in the entire home, don’t have to worry about finding a place to rent, dealing with rent increases, or securing a roof over their heads when they retire. And after 30 years, their home likely appreciated - meaning they could sell it for a lot of money. But on the other hand, renters have zero equity after renting for the same 30 years and would have to deal with moving constantly, paying higher rent each time, being afraid of not having a home when they retire, etc. Home ownership is an absolute must for everybody who wants a secured future. It doesn’t have to be a fancy one or one in a big city; it could be a basic home in a small town, too. I can’t imagine renting for life because I’m afraid of the mortgage payment. That’s just a bad financial move.
@@edwink1467 I get your side of the argument. I'm not totally against buying a house. But there'a another argument that the excess money on home ownership vs renting could bring you more money if invested wisely. More money than the equity of your house. Also, there are added benefits. There's a high chance you won't buy a house in the city because of high prices which increases your commute daily but for some people, their time is worth much more to them and it's better for them to rent in a city an have less commute/more money than buying a house with a 1-hour commute. etc I can bring you several arguments like this.
My point is. 1 option isn't absolutely better than the other, Circumstances matter!
Can you guys start finding more reckless people to make videos about? I want to see people making bank but still living pay check to pay check
Fr these dudes a snooze fest
That was the girl making 108k a year in NYC tho no?
Like me! My wife and I broke 200k last year. We own very expensive luxury cars, live in a 1.3m beach house in Southern California, eat out every day, go out and spend lots of money every weekend, have a daughter and one more on the way and we are living paycheck to paycheck right now. However we are a homeowner and have very provocative careers
moscantamp from your comment I can see a lot of ways of cutting expenses , I have a high salary and dug my self into a big hole that I had to live frugally for 2 years to get my self out. The most difficult part is convincing the family to buckle down after they are used to luxury. But the longer you wait the more you are f’d
Me we earn 90000 but still broke
She make 85k he makes 100k, no kids, good credit. Of course they can buy a house
Yea it's also called making good decisions
and not falling into the “lifestyle inflation” financial trap.
GREENLALI they could of afforded a better location.
Yes and no. They live in Gardena. It's an arm pit. I'm not dissing them by saying that. But Gardena is not what you come to LA for. So, that took a lot of discipline to decide to opt out of the fancy zone...because they are not in the 'fancy zone.' They are in Gardena. It's where you go, usually, after you have been married 10 years and have a kid on the way. And people will make you feel like you live...in Gardena. You have to be an individualist to make that decision so early on.
@@swicheroo1 I mean, it's still the LA metro area. Not much of a drive if they wanna go into the city for fun on the weekend, during the week they're working anyway. As far as gardena not having clout...who cares?
Twenty minutes from LA.... hahaha good one :-)
Nathan Chang hehe
Lol same thing I said...yeah right! Maybe 20 minute drive on an early Sunday morning.
Actually, I was surprised at this since Gardena is a part of LA and gets services from LA County. The better phrase would've been 20 minutes from Downtown LA.
hahn310 Gardena is a part of LA county. DTLA is more like an hour+ away in average traffic. Dude already says he commutes 90 minutes to work to Santa Monica which is about the same distance to DT.
Technically its only 5mins from Los Angeles. But 20min to downtown l.a
Perfect couple in a perfect home leading their perfect lives with their perfect jobs and home-made cold brews. Just perfect LOL
With their perfect No kids
@Splendid Londoner
Is that sarcasm or what?
Key is that the couple is a team. Congrats
He’s clearly a Graham fan. Mentions his cold brew coffee saving him money...
Claire Lubrano of course! Why am I here?
Saving on coffee ☕ 😎
Graham and Ramsey would freak out on the 91$ HOA fee.
Ver Starr Make your own Avocado Toast too bro? Lol
Ver Starr you guys gotta do a reaction video with him since you’re down in LA!
Why so many haters in the comments section? Are you guys mad because they were able to put down 10% deposit for the house or are you guys mad because they are couple? And you guys are still single? Be happy for people your time will come.
Thanks!
Able to put down 10%! That's not much. Historically banks required 20% and ensured housing payment was less than 25% of household income (usually only one person working). If so, prices for land and housing would not be soo inflated.
I'll take my chances
@@herrop for a first time home owner they usually don’t pay 20% some pay 3.5 percent with a FHA loan.
as a young woman i would rather buy my own studio or 1br for just me and not be tied to a partner or have shared investment with someone i am not even married to.
Elle Vonn for sure
typical millennial. Buying a $600k house together as roommates under t he law
You seem to be the only person in the comments with some sense. I think people do a lot of this stuff so they be the couple who has it "ALL". Its better to do what's best for you than what people want you to do.
Marcus Scott Balahari definitely
Right, they bought a home based on two incomes, they must be really confident in the job market, I hope neither of them lose their job.
Crazy they bought this townhouse, I know which one too. The location they live in is very nice and not far from the beach (maybe 15 mins), weather is good too. Although they are far from the "hip" areas of LA but as someone who is born and raised in Los Angeles, I would live away from the city
Gardena's has good asian food and... actually that's about it LOL
@@amsd1231 Don't forget the San Pedro seafood market, Redondo beach + pier, Del Amo mall in Torrance, and also the outdoor outlets in Long beach. Oh and also the numerous food places from Latin America,Asia, and sometimes even infused items too (which is all near Gardena). So pretty much they got a really cool spot to live in.
LMFAO I love the difference in their computer set ups:
Girl: *super neat , white colors, clean open space.*
Guy: RED LED KEYBOARD WITH VERTICAL SCREEN GAMING CHAIR HUGE MOUSE PAD
Jenelle and Ver seem very level headed about their housing search. Funny thing is I know exactly where this community is because my husband and I used to live nearby. I wish they talked about what the HOA fees are and if there's any amenities. Commute to Santa Monica sounds brutal though :(
bunnie1294 it’s in the breakdown but yeah, they didn’t have the footage where I talked about it
$600k is so much money for a first house and it doesnt look like you get much for your money in LA.
We're All Thieves yeah, LA is expensive for sure
That's so cheap compared to SF. Fixer upper in one of the rougher districts all over 800k and easily over $1 mil. Guess it's all perspective and what you're used to... Not easy out here these days
funny you say that, im from CA and thought it was a rather good deal. Californians are so jaded lol
Kåre Berntsen 😂 I compare everything to SF because I live here
I would feel such a burden to buy a house on mortgage for 30 years at that price. I just think there is too much unpredictability in the housing market to know whether the price is going to crash.
kinda risky buying a house without being married first. yo verr, if you’re reading this, better put a ring on it asap!
Νικόλαος αἰσθητικός we engaged my dude!
That's the problem with people these days. What if you get laid off or unforeseen medical issue in which your health insurance doesnt cover everything. 😵 That's how people end up in the street, homeless.
Fuchumo gotta be smart and have a savings even after the buy
Almost did it once, 2 years later I wanted to change my life,glad I didn't do it.
@@VerStarr yaaas!
Cute couple. Best wishes in life 👍
I love how this showed up in my recommended videos, 4 months later. Oh how things have changed in the world!
it's crazy! but we're still just living it ... at home lol
Is he mocking Graham with that cold brew smile...?
Polixeni Sarantaena maybe ;)
Yes
I brought my first house in 2017. I have no kids and not married. Good credit. No student loans. I watch what I spend. I live in Virginia and work in DC. I am only 36 years old.
Nice man!
@@VerStarr Thank you. How are you holding up with the Corona Virus? I am essential worker. I been working since it started
Joshua Collins been doing okay man. Thank you for doing what you do. We are still working fortunately as well
@@VerStarr your welcome and be safe 🙏
Who's watching this during covid-19 housing uncertainty Los Angeles?
Frank Shin i wonder if they are in trouble from this new purchase
Ben Castro nope still here
Graham Stephan would like that iced coffee
Probably not cuz it costs more than .20 cents
Did the math, comes out to 18 cents
Ver Starr EVEN BETTER. GET GRAHAM ON THIS GAP IN THE MARKET😂
To get to Santa Monica that dude needs to wake up at 5
Tonythetiger86 I actually wake up at 7, leave around 7:30-7:45 and get to work by 9
Ver Starr that’s wild! I have a similar sized 2017 build house in Metro Atlanta worth $300k, 30 minute train ride to the office in the city (though I work remote 4x a week). Salaries are similar to LA. I’m envious of California weather though. It gets too hot and too cold in Atlanta.
@@VerStarr I used to live mile away from you actually. 90 minutes commute..Elon needs to develop underground tunnel fast!
Tonythetiger86 or I should just work for him close by!
Ver Starr had a job in Midtown Atlanta that let me work from home 1x a week in 2014. Then another job in 2017, 2x a week, now I’m at another that’s 4x a week, even though I’m not too far from the building. Hope more companies advance teleworking, real estate has gotten too crazy
I see two very succesful happy people. Good job im happy for you both.👍
Congratulations to the couple. A very good buy.
PMI of 91 is nothing. And HOA is still low.
And great you got the fixed rate.
I just bought a town house in the Bay Area two months ago. It’s smaller than this and it listed at 700k. I think they got a great deal, especially since it’s a new home. Mine was built in 1974 lol
My husband and I started with a condo first which we made 120k after fees and commission from selling it. We then used that to put down on a single family home and also paid off our car! We were lucky and also got a good apr 3.78. Right now the is a good time to buy with low interest rates!
Congratulations. I feel like negative comments aren't allowed here. This is a great achievement for both of you. House is very nice, area, close to work etc... Not all the things that works for other's works for everyone. For sure this money gets you something else in different states but you are where you want and that's amazing!
it would've been perfect to see a home tour as well
Shawn B we did one but only got a few clips in there. I’ll make a video soon!
@@VerStarr haha awesome thanx for the response Ver
The town home is gorgeous! This price is spot on. I love it. I think they purchased wisely. That's less than $2k per person.
Krittie In the City Dave Ramsey would disagree...more than 30% so they’re considered house poor.
I’m a fan of Dave Ramsey, however his opinion isn’t Bible. They seem to be doing quite well for themselves. They have a fixed rate and they will more than likely earn equity. Much better than paying long term rent. The owner mentions in the comments below he still saves about 50% of his income. Doesn’t sound very house poor to me. They can also rent out a bedroom or do Airbnb. Options are limitless
Shout out to Graham with that "We were able to buy a house because I make my own coffee."
I feel like you can get this for 180k in Texas 🤷🏾♀️
Ashlei Allison for sure
But it’s Texas
Actually...no. In Houston that would be $350k to $500k depending on the neighborhood.
crissitycrox54 hmmmm I’m sure it looks nicer in the inside
crissitycrox54 and I’m from DFW so I would never see a townhome for that much
Woah, I was tripping out cause I was waiting for Graham's commentary.. but it never came.
Nearly 700 a month in property taxes? That is insane
I would agree. But they probably plan to have children someday. Property taxes pay for good schools. I'm only paying $700.00 a year🤣😅.
@@user-cg6fd4in1d not to mention every danm year it increases
Yup because CA is a democrat state. They love taxes there.
CA property taxes are fairly low at 1.2%, but since they are based on the purchase price, you end up with $700 per month. I am sure the school in the are are not good, because Gardina is a below average neighborhood with considerably lower property values.
@@942687032679840126 just for comparison purposes, I am from New Zealand and in my city it is 0.0018% of the government valuation. (Government determined value is usually lower than the purchase price).
Lol to people who say the bank owns it. Bought our first house for $485k a year and a half ago and just had it appraised at $640k. That profit in equity is ours.
I appreciate the APPRECIATION! 😉
This couple is begging to be on the Graham Stephan show. The coffee was deliberate. I like this new format
You guys did a good job 👏 especially saving that much money, not buying too much home, the credits towards closing costs were awesome, and the house is beautiful! Plus you’re so young and have accomplished buying your own property in one of the most expensive places in the world. People are haters because they could never buy a 600k house 🏡
Amanda Northern thanks for your kind words!
Bay Area Millennial Mortgage next pls. Milpitas or San Jose
Kevin Patterson
Millennial couple buy a garage for 1.5 million dollars
this will shock the US
Oh man, so many people will get triggered watching software engineers and data scientists buy $1.5M condos
Yaasss
"Made a few million when my startup was bought - bought a 2BR condo for $1.5M"
people really think 600k is bad... come to the bay area. Town homes go for 1.2mill-2.5mill and that's 20-40 min from SF
the bay area is a garbage can
@Never lose sleep over the small stuff Nice, what does she do for a living?
03:49 "When we first started looking for homes, all throughout California, ranging from Burbank to Glendale..." LOL
Lool I just looked it up and it's 9-min drive between the two xD
@@ElliesWorld and that's if you're driving from the center of one to the other. they're literally right next to each other hahah
@@rabbitsblood haha yeah.. they cut her off. we looked all over LA basically from the valley, 626 to south bay
I bought a triplex in LA for 850K three years ago. I live in one unit. And rent out the others. It's actually kind of awesome. The tricky part was coming up with 25% down payment (I wanted to avoid PMI) and just having the credit history to be able to prove that I could beat out other people. If I want to sell right now, my property is valued at 1.3 million. I love it!
Spunkymunky that’s awesome!! Wish we could’ve done that
I'm positive that this guy knew someone I haven't seen townhomes under 800,000 since like two years ago
Jelly Anderson just the filter on Redfin and an agent with a keen eye
Smart people. Didnt just buy the most expensive place the could
hasan masood there is less expensive condos but to the east of the 405 which would be further away from his job
@@berri5769 yeah. I'm saying good for them. Cuz they were approved for around 800k but actually bought a house that is 600k
In NC my house(not a townhouse, and with plenty of yard space) has 1000 more square footage for more than half the price... yeah
hasan masood Gardena is a marginal area. Crazy they paid that much. Condos in the OC are cheaper and in better areas. Houses in OC are really pricy.
VibranCELE one of those “my house is bigger, better, and cheaper”. Do you feel better after telling the whole world that?
This couple definitely has their priorities in order. I do think its safe to say that for starters, they do make a good combined household income even in relation to California's high cost of living. They're better off than many. But the biggest takeaway is regardless of their income- they manage their priorities and expectations very well. They've put a bigger emphasis on savings and living under their means than spending every dime trying to live an extravagant lifestyle. I cant stress enough the amount of people i see that are living pay check to pay check and instead of saving money for a house or simply a better living situation, they'll buy a new or slightly used but expensive car instead.
that bit about agents not being paid by the buyers... that's what agents want you to think. It's baked into the price, meaning the sellers are aware that percentage is being taken out and so it factors in their decision of which deal gives them the most.
That’s true. We clarified but it wasn’t shown
The price is good in santa monica, most stuff that nice is 800k, about 760 a square foot. Down pay is low, but they kept finances straight. Overall a good job in today's market.
Things are a lot more expensive in CA. I brought 3 townhomes in a gated community. They were about the same sf with a garage. They were $72k to $80k. I brought them about 2-3 years ago in Atlanta for rentals
3 bedrooms, 2 1/2 bath and 1500+sqf townhouse for $600k is a bargain compared to what you have to pay for a similar house in the SF suburbs (30+ min away from SF). And only 10% down? Wow! It must be much easier to buy houses in Southern CA.
Event in LA, that's why she mentioned chooses Garden, in Downtown LA isnt that price a mini tiny studio are arround 800K
Home prices are usually higher in the Bay Area but pay is also usually higher in the bay so it ends up being similar from my experience living in both NorCal & SoCal.
CONGRATS! Having a place to call your own is quite the accomplishment! Now be sure to buy investment properties and collect rents to offset that mortgage payment! Great job you guys!
RAM Real Estate Investing in the process!
Ver Starr 👍🏻
I would like to read MORE about people living on $40,00-$50,000 a year in the Midwest. This is the top salery my husband ever made....and gthis was working for 32 years at his City job in IT, printers and cellphones.
Dang... that is quite the time. But u know people like seeing young people make stupid decisions with there money cuz that’ll get people to DESTROY THE LIKE BUTTON!!!
I should go on this show. Bought my first place at 25 years old with 20% down, 15 year fixed rate, and plan to have my mortgage paid off in the next 5 years (by the time I'm 35)
Dexter Morgan submit!!
Do you also keep a wooden box with blood slides hidden in the Air conditioning unit?
@@anasandoval6698 Just moved them to a new spot now that you told everyone my secret hiding place.
Dude seems like someone who sits in the “ Den” and plays video games for hours, lol.
Eric Walsh I wouldn’t deny it on occasion!
Woah, new series? New Graham critiques. Get the 🍿
What's up dude?! I saw your episode. I live near Addison IL. and grew up in St. Charles right near where you're at! I'm also a frugal investor 👊
Yoooooo Alex from Millennial Money
You totally inspired me to be a lineman you're amazing
Alex!!! Your episode has been my fav thus far on millenial money!!
Dexter Morgan awesome man! Glad to hear that. I work in Addison all the time!
You don’t own a house until it is paid off. The bank has ownership until final payment is made.
sure, we don't own it OUTRIGHT but it doesn't make sense to when our money makes us more elsewhere. open your mind
Okay the plush peas in the pod so here for it, they’re adorable! 🤗
Alexandra Kirk 💚💚💚
Congrats Guy’s ! LA is so beautiful!
Good for them! Home ownership provides security and long term prosperity. And you’re building equity, unlike renting.
Depends how your living rent a beautiful 360 degree beach house in New Zealand and save thousands a year on lifestyle travelling several countries a year and saving for retirement lots of memories when pop my clogs not just work and mortgage also allows for working less and living more
Can also invest
@@Sharpy7562 holy punctuation Batman.
kronikinsomniak what’s wrong with it?
J J you’re totally brainwashed isn’t an argument. It’s an attack
Man I wish yall wouldve went with naca...no PMI and yall wouldve been able to buy the interest down and they are already lower. You wouldve saved about $500 more a month
Yeah! Interest rates are super low now so we definitely will refinance
Surprised that a software engineer gets only 100k. Including bonuses and stock options, his salary should be closer to 150k! He certainly deserves more for his work!
Empire State hahah tell my boss
@VerStarr U work for activision blizzard in Santa Monica?
Putasos 916 not Blizzard. Just one of the many tech companies out there!
@VerStarr Nice! We’re looking @ moving to SM but the $ has to be right! No less then $250k a yr Im sure u understand lol
This is a great series and showcases to the rest of the world what we go through here in California. The same couple with the same budget in another state could be driving a Tesla and F-350 with 3000 square feet and acreage and money left over. Gardena is not a great area and commuting to Santa Monica is a nightmare. Public transportation in LA County is substandard, freeways are substandard and embarrassing, but, they have a nice place and set for success it seems.
Thanks! We do have money left over just for the record but you’re totally right, I can be driving an F350!!
@@VerStarr You guys are a great example how we ARE able to live in Southern California with hard work, education and income not living in a studio and unhappy. You are living well but not excessively which hurts so many here. They should do follow up stories for those highlighted here.
Glad to see the area where I grew up on this millenial money series . Good stuff CNBC.
20 minutes south of Los Angeles!? Bwahahahahahaha maybe at 3 in the morning.
Nope, rush hour now too! People aren’t commuting right now
Take a shot every time she says "I work remote". Good stuff though :)
I get so shocked at the cost of living in other states. Where I live, you can practically get a mini mansion in an amazing neighborhood for that amount of money.
What's good about a mansion if you don't have 10 kids and just use 20% of it in reality 😁
But if you have 10 kids, more power to you.
CNBC should make a show where they find people who have spending problems and have Graham Stephen come in and help them fix their financial spending problems.
I love the Disney in the house!
Yes!!!
Aye Gardena native here, some areas are nice . But as it gets closer to Compton and south central it’s ghetto af haha
I live in Gardena and know exactly where this townhouse is( Many townhouses are being built here lately). I was always curious as to what the complexes looked like inside. Gardena is a great area but there are many homes for sale in the area less than $600k. Good for them that they were able to purchase the townhouse, but damn, is it expensive living here.
DuckSute same bro
If you’re not familiar with Gardena, just know it is the HOOD!!! It’s Compton’s Brother!
Louie Flips ayoooooo
this is the reason I moved out of Cali and to Houston. I get pay the same for my field and got a brand new 3700sqt house on a 11k sqt lot for less than 380k (no state income tax and gas price is dirt cheap)
But property tax is insanely expensive in Texas, so good luck paying 10k a year in tax
I see that Mr. Feeny quote on the chalkboard. Most impressive thing from the video. Kudos!
FEEEEEEEEEENAYYYY
With that price, I think I'd settle in an upscale tent city or buy a tiny house. Congrats to the couple!
They are like in the top two percent of millennials.
KILLMONGER 404 which is sad
Nah fr it really is
Ehh, maybe 5%. Top 2% are Instagram/UA-cam rich. Top 1% work for Google, Facebook, Microsoft
Leonid Korol top 4%
@@leok7193 1st year software developers at google make 100k-150k.
Nearly $700 a month in property taxes?! That's completely insane!
It’s crazy!!
I like your residence. In 30 years you can go back to this video and laugh at all the haters that said you made a mistake. All I see is a couple that have started their journey up the property ladder. Gotta start sometime and there's no better time than now
I appreciate this comment!!! thanks so much!
this is inspiring! Kudos guys
Thanks!!!
Lovely hard working sensible couple, it's a no brainer, renting v mortgage. 😁
Buying a house is a good investment most of the times.
They bought a townhouse
Being Myself this is not a good investment lol. It’s a TOWNHOUSE.
J J right? Really the basics in accounting. If you’re paying for it, it’s a liability. If they were rental homes with tenants in them bringing in a profit it’s an asset.
Good job and congrats!! 🙌🏾🙌🏾🙌🏾🙌🏾
You can buy a chateaux (castle) in France for that kind of money.
Time to move to France!
I keep seeing the Disney stuff and it’s so STINKIN’ sweet ❤️
Nora A.B. Someone noticed!!!
For the my childhood city, Big Up Hawthorne + Gardena 😄
I'm saving so much to be able to purchase my own house hopefully when I'm 30 (now 28).BUT I'm gonna buy it in cash, no mortgage. Id rather buy tiny house than having mortgage
nice! hope you're investing too!
Amazing man, wonder how you're doing now!
They could’ve rented a little longer to save more for a bigger down payment but then again it might not be the best financial decision to buy a house with someone you’re not married to. But if it works for them, great
nicole smith I agree. But it would’ve taken a lot more time and less money into equity. Time was key for us
Ver Starr Oh okay. You guys seem to be doing good anyways
nicole smith ppreciate it!!
If they waited, the price of homes would have went up to. They would be saving up for the rest of their lives to keep up.
For 600k they could get an 8 Plex in many states bringing in cash flow and after it's paid off tons of cash flow for retirement.
Brandon Life & Family where? Lmk man!
@@VerStarr Michigan, Ohio, Pensylvania, Tennasee. So many states with properties from 20k a door. The list goes on and on.
That bigger pockets book is great
They can rent out 2 bedrooms for air bnb to pay for the mortgage.
Where would they stay? In the bathroom or garage?
@@WildDisease72 they house has 3 bedrooms.they can stay in one bedroom.and they can rent the two bed room for air bnb and also the garage they can modified it later for air bnb too.
@@eatandfitness and what about privacy and peace of mind ?
@@minniem526 millions of people are renting out their rooms for air bnb and it covers up to $1 million for property damage claim so it should be safe.
@@eatandfitness some people like living in their own homes without the strangers
Congrats!
NYC said “do u mean 5 million????”
Indira Espinal 1 million or less depending on the bourough.
$5 million plus a shoddy elevator and an apartment sized appliances lol.
These videos are really helpful
In CA, closing costs are typically closer to 1%, prepaids(escrows for taxes and ins) are above & beyond that.
New series! I like this
Spending 40% of take home pay on a 30 year mortgage? Dave Ramsey would roast these guys.
Yep most likely
How is it 40% of their take home pay??? Their combined salary is $180k...they're easily bringing in more than $10k take home per month.
Dave is a Boomer who grew up paying $400 a month for rent.
@@avril14thlove After taxes they're really walking away with around 100-110K max. So yea, its about 40% of their taxed income.
Screw Dave Ramsey!!
I bought my first house for 190k and my garage is as big as their house.
Dallas Texas.
Leo Gonzales lol
@tdot22 you got something bad to say about the great state of Texas?
Nice micro homes. Pretty close to each other. Mortgage should be 3000 A month. I bought 3 acres 4 Bed room out in utah for 220k . congrats on ur home
Thanks man! Congrats to you too!
Graham will love the coffee part ☕️😄