My salary didn’t change at all, but homes went up 82%. The money I saved for a down payment and my salary no longer are good enough for this home and many others. This ain’t even a “good” home either. It was a 200k meh average ok home before. Now it’s simply unaffordable

  • Saik0@lemmy.saik0.comEnglish
    0·
    2 months ago

    Good thing what I actually said was

    Paying anything you can up front saves you several times over in the long run.

    My point was that the advice was terrible. Not that there are other circumstances that could make it useful. Overall, as a general rule you shouldn’t want to just hold onto debt for no reason if you have means to pay it down. It’s also why I specifically showed 10% as well rather than just the typical 20% downpayment, it furthers my point that

    you’re so much better off if you put as much into the down payment as you can.

    “As much […] as you can” And not just some 20% or whatever magic number.