How to afford a million dollar home in California?

How to afford a million dollar home in California?

Save 20% of your income You’ll need to put away at least 20% of your income if you want to afford a million-dollar home. This may seem like a lot, but it’s doable if you’re diligent about it: Create a budget and make sure you stick to it. Automate your savings so you don’t have to think about it.

What percentage of homes are over $1 million?

A Record 8% Of U.S. Homes Are Worth At Least $1 Million.

Can 1 million dollars buy a house?

In reality, it’s possible to buy a $1million home with a variety of income levels. That’s because your home-buying budget depends on other factors, too, like your down payment, debt-to-income ratio, and mortgage rate.