For one couple, selling a southern New Hampshire condo for $360,000 was supposed to be a step toward buying another home. Instead, even with mortgage approval topping out at around $500,000, they said they have ended up stuck.
Here's what to know
In a Reddit post in r/FirstTimeHomeBuyer, the original poster described themselves and their partner — a registered nurse and a teacher, ages 31 and 35 — as having moved in with parents north of Boston after selling their condo, with $42,000 saved for housing and down payment expenses.
After 2.5 years in the condo, they said the sale left them with about $60,000 in equity. They said they used part of that money to pay off debt and set aside $10,000 as an emergency fund. Living with family has also kept their current housing bill low, they added, at $800 a month total, including everything.
Despite those lower monthly costs, they said lenders would only approve them for about $500,000. "Tell me how as a Registered Nurse and a teacher we cannot even get a mortgage for more than $500,000, and houses are $500,000+," the poster wrote.
"You're not crazy, the math around Boston is just completely detached from normal salaries and a $500k budget is basically the starting line now, not the finish line," wrote one commenter.
More background
They portrayed the lower end of the market as bleak: homes priced below $500,000 around Greater Boston or in nearby southern New Hampshire towns such as Salem and Windham either disappear fast or amount to "piles of junk." The poster also said they were trying hard not to buy another condo.
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They wrote that they want to "raise a family soon hopefully" while also staying close to family and work north of Boston.
The frustration resonated with other readers in different markets. One commenter in Rhode Island said cash buyers had beaten them on six homes. In South Jersey, another commenter said that even with nearly $100,000 available for a down payment, extra safety nets, and 800 credit, they were approved for just under $500,000.
The tougher replies zeroed in on the same trade-offs: proximity to family, a home's condition, and affordability.
What can be done?
After people suggested waiting, the poster replied, "Yeah we're just gonna stay at my parents' for awhile." Commenters noted that with housing costs at $800 a month for two people, the arrangement could help them keep building savings.
Some commenters raised renting as another path for now, saying the couple should keep saving and hold off on buying until interest rates ease. The discussion centered on piecing together survival strategies one town, one budget cut, and one delayed plan at a time.
As the original poster put it, "It's just hard because it feels kind of impossible right now. It's just hard weighing our options right now."
Where can I learn more?
This couple's situation reflects a broader affordability crunch. These stories examine national affordability and rising ownership costs from insurance and climate risk.
• Across the U.S., Harvard found the median home now demands about $120,000 in annual income.
• Across the country, rising home insurance costs are shutting more buyers out.
• In California, insurance premiums keep climbing, deepening the strain on would-be homeowners.
• Zillow found climate risk and taxes are now shaping many buyers' searches.
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