cdt
@cdt
wish we had a home buying channel. thinking of moving on our first house but i feel out of sorts here.
18 replies
0 recast
9 reactions
seneca
@seneca
ask the qs, your _friends_ will help you get the respuestas
1 reply
0 recast
0 reaction
cdt
@cdt
do you own? any regrets? assuming you have 20+% to put down, would you? i hear the “avoid PMI” case vs “never put down that much at close” pov basically 50/50 amongst ppl i know
5 replies
0 recast
2 reactions
seneca
@seneca
my 2c is that ownership is a luxury. if you buy, either 1) you have plenty of $ and it doesn’t matter or 2) you want to live in a place as your own above any potential downside/upside of that $ (eg watch the kids grow, make it your own, etc). starting from that pov, it has made my decision making easier.
2 replies
0 recast
1 reaction
Dennison Bertram
@dennison
Yes-ish. Putting it down means lower monthlies which make the load feel much less heavy. Which makes homeownership much less scary. Remember you've got this place for decades, don't assume you can do high monthlies forever. Also, it reduces the cost of the loan, ALOT. And saves you from inflation.
0 reply
0 recast
0 reaction
huugo
@huugo.eth
My thoughts, don't worry too much about the PMI. Put down just enough/buy points to get the mortgage rate you want. Don't wave inspections (they won't catch everything but may save you money). The rest is feelings. If the market, realtor, location, or anything feels like pressure, walk away, there will be another one.
0 reply
0 recast
0 reaction
Tony
@0xt0ny
What reasons do they give for not putting 20% down? I've never heard that advice, and in this rate environment it really matters to the total cost of the loan
0 reply
0 recast
0 reaction
coconutgoblin.eth
@coconutgoblin
Team 20+% down here
0 reply
0 recast
0 reaction
