Certain example embodiments of this invention relate to a frit slurry paste for use in assemblies (e.g., a vacuum insulated glass unit or a plasma display panel), and methods of making the same. Frit powder, binder material, and a water-based solvent are mixed together to form an intermediate mixture. The frit powder is substantially lead free, and the water-based solvent is provided at a first temperature. Additional water-based solvent is added to the intermediate mixture to form a frit slurry paste. The additional water-based solvent is provided at a second temperature, with the second temperature being lower than the first temperature. The binder material is provided at a concentration of 0.001%-20% by weight with respect to the frit slurry paste or the frit slurry paste absent the frit powder. The frit slurry paste has a bulk viscosity of 2,000-200,000 cps.