This Gen Zer just bought a $395,000 house with his fiancee. Good jobs and savings helped - along with this one key strategy.

"At 24, Ryan Hemenway is doing what many Gen Z workers can't: saving thousands of dollars a month, working a job he enjoys, and buying a home. He and his fiancée rent a one-bedroom apartment in the Minneapolis area for $1,190 a month. Hemenway said their combined income of about $100,000 and relatively modest housing costs in recent years helped them save about $3,000 a month - roughly half of their take-home pay - and set their sights on homeownership."

"In late August, they got another step closer toward accomplishing that goal - putting in an offer on a $395,000 home in Coon Rapids, Minnesota. Hemenway said their offer was accepted and that he expects the sale to close soon. Their plan is to move in by October, giving them time to get settled before their wedding next May. "We got the opportunity to purchase a nice home for as good a deal as you can get right now," Hemenway said."

"The Gen Zer said he credits one key strategy for making homeownership possible: living with his parents for a time. Over the nine months he lived at home after graduating from college in 2022, Hemenway said he saved or invested about $30,000 - money that will go toward their 10% home down payment. "The biggest thing you can do to help jump-start your financial situation, whether you find a job immediately or are still looking, is to live with your parents," he said."

A 24-year-old Gen Zer and his fiancée rent a one-bedroom apartment for $1,190 while combining about $100,000 in income. Relatively modest housing costs and disciplined saving allowed them to put aside roughly $3,000 a month, about half of take-home pay. Living with parents for nine months after college enabled saving or investing about $30,000 toward a 10% down payment. The couple placed an accepted offer on a $395,000 home in Coon Rapids, Minnesota, and plans to move in by October ahead of a May wedding. Graduating before 2024 hiring slowdowns left them better positioned than more recent graduates.

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