The question I originally responded to was "why would you rent and save for a house at the same time?"

I said "because you need to have a downpayment".

You reply "downpayments aren't that high".

Unless you're getting loans zero down, you literally still need to save to have your downpayment. While you're renting.

So where is my brain fried?

Even on a $500k condo, you're putting 10% down, you still need to have that saved up. Noticeably more, in fact, because I'm sure you'd agree "lemme sink every saved cent I have into my house downpayment" wouldn't be wise.

> So where is my brain fried?

Many places.

First, you can get a zero down loan at that income level. Wouldn’t recommend it but I can tell you haven’t seriously explored home loans if you don’t know this.

Second, if you make $250k a year and you’re struggling to put $10k, or hell, even $50k down… you need to make a budget because damn

> you literally still need to save to have your downpayment. While you're renting.

Just so you know, I did it. I bought a condo a 20 minute train ride from sf, making quite a bit less than 250k.

I did it at $180k a year by moving into a studio in oakland, and that was overkill tbh. Saved $1.5k a month and biennial vacations were to New York and Vegas instead of France and Japan. Such a sacrifice /s. Now imagine how easy it’d be with an extra $70k (about the average annual salary).

The best advice i can make to you, if you really are making above 200k a year, is to make a budget spreadsheet.