$1.3M net worth - all in retirement/taxable brokerage accounts, no RE. About $300-320K HHI yearly. Looking to build a $800k house. Can we afford it? If yes, how much downpayment would you put given the interest rates? This is in NY so with taxes, and 20% down, our monthly payment with 5% interest rate would be about $4700. I will have to sell stocks and incur LTCG to be able to put more than 20%, so trying to get opinions.

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A year or two ago would have been the ideal time. Now housing prices are sky high and interest rates are close to double what they were a year or two ago. Plus the market is down 5 or 6 percent from the highs. That being said, if now is the right time in your lives, then go for it. Real estate is a very stable investment long term.

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Would consider taking a loan backed against a portion of my portfolio for the down payment, instead of liquidating. Not financial advice

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Don’t sell stocks. Get a loan and place it as colateral. It’s a win win.

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Have you put together a budget with all expenses? That is the only way to really know.

From affordability perspective, I think we should be okay. I am just looking for opinions to understand if selling stocks to put a higher down payment would make sense given the rise in interest rates.

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