Perhaps the BEST B1G Forum anywhere, here at College Football Fan Site, CFB51!!!

Cheapest 1bdr condo here:

https://www.zillow.com/homedetails/26205-La-Real-APT-E-Mission-Viejo-CA-92691/25676435_zpid/

$610/mo HOA.

Lulz that's an additional $348,000 over the life of a 30 year note, assuming the HOA fee tracks with an inflationary rate of 3% per year. 

Actually I was wrong. It's $440/mo for the condo association.

The additional $170 that I added in is *not* monthly, it's semi-annual. So only ~$28/month. That's for the Lake Mission Viejo lake association, which (if you use it) isn't crazy.

I wonder what the HOA is for the property CD mentioned.

Well that changes everything!

Indeed, I looked up the starting salary of a computer engineer and used that, it's meant only to suggest it CAN be done, not that everyone can do it in one year around here.

One can of course use different figures throughout. 

I came out of school used to living on very little and I mostly adhered to that for a year building up a downpayment.  Granted, I was well paid, my wife didn't have a job at that time, I think she later got a job making rather little teaching aerobics.

I rented a nice two BDR apartment at the time, both cars were paid for, no student loans, we lived pretty sparsely.  Interest rates then were through the roof (1980).

Anyway, I think it possible, around here, with a pretty good job x 2. 

My son just graduated from college his starting salary is $94K and he's in construction.  He tells me all the time, most of his friends (non Construction majors) are making $50-70K and he doesn't know how they can make it.  

Take a couple just starting out, salaries $70,000 each.  Taxes would take $35,000 Fed and lets sat $7,000 State.  They are used to living on much less and keep at it with occasional splurges, say their annual cost overall is $18,000 for rent and maybe $42,000 for all else.  That would leave $38,000 "profit".  Reasonable?

A one bedroom condo around here is $300,000, more or less, in a decent place, 1.5 baths.  Can they afford that with $38 K down payment?  Am I mathing OK?

So, loan of $262, 000, mortgage payment around $2,400 a month at 7.5%.  They were paying $1,500 rent.  At 6.5% it's $2,218.

So, it's doable, for a couple with no other loans, decent credit, after a year of hard saving.  I think.

Please don't laugh at me, but I don't really know what a condo is.  Isn't that just an apartment that you buy but still have to pay fees for the building?  Never really delved into them very much.  

But why would a young couple even consider a condo?  Not knowing much about Atlanta, but it appears to be similar to Houston.  They could probably buy a decent home for around $200,000.  Might have to move out to the suburbs a little, but it seems to me you're projecting your own tastes and lifestyle (mature, travelled, no young kids) onto a young couple.  I've always understood that condos is something older people do when they get empty nesters, tired of taking care of a big home and yard, and want to travel.  Some guy I know named Cincy fits the bill.