$350k HHI, no debt/loans/no near term plans for kids, would be first time home owners. New job 5 mos ago. Our rent is pretty good ($2,250) but we’re eyeing some pricey houses (1m-1.2m) in a HCOL area. We can put down up to $325k, more if we wait until next year…Whaddayathink? Would you wait? Aim a little lower on house price? Put more/less down?

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What area? Asking for property tax reasons bc if you’re happy with where you are it may be worth staying put. Surely the interest portion from a mortgage + the property tax will be around or more than 2250/month, so you can continue to rent and accumulate cash without thinking that you are “throwing money away”.
The hard part is utilizing the money you would be using in your new mortgsge in a smart way.
No matter what though, a good problem to have, you will win out either way so let both of your hearts play a huge part here.
I’m in a similar position as you, but we are saving and will be building new in a HCOL area. Roughly $2.5m

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Good perspective! We’re in Seattle

Markets about to crash you should hold on a while longer to get a good deal on a place

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Seems reasonable. If you like the home, go for it.

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The less you put down the better. Basically put down the minimum and put what you would have spent into other income or return generating assets.

As for timing though …. Depends on your location. Some places will plateau, others will drop. But if it’s your forever home you’ll hold for 10+ years, probably doesn’t matter all that much. If it’s more of an investment or you only plan to be there 2 years etc, then the market matters.

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Go higher on the house. 1.5- 1.75

Sounds dumb but is there a reason to go higher if you can afford it? Vs lower house payments and investing more elsewhere?

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