Broski where do you live? Try saving 200k or whatever it takes to make a sensible downpayment wherever you live. Remember, while saving that money, you still pay for rent and logically, rent didn’t go down either.
I can tell you’ve never bought a house if you think you need $200K to do it. It’s more like $20K down and you refinance after a year to get a lower interest rate.
I can tell your house is nothing like what I’d wanna live in. If you can get a house for maybe 70k, yeah a downpayment of 20k works.
In most places a house will likely be 500k or above. Let’s just say 500k for the sake of argument… it’s a simple number for your simple brain. You’ll have to pay at least 20% up front. That’s 100k in my example. However, that’s quite an unreasonable thing to do in recent years, so I better suggest your downpayment be more than 30%, or 150k in this example. Generally, 40% is s very good downpayment in terms of long term financial security… that’s already 200k. So yes. 200k is what the average person should expect. 20k wouldn’t even get you the land.
Broski where do you live? Try saving 200k or whatever it takes to make a sensible downpayment wherever you live. Remember, while saving that money, you still pay for rent and logically, rent didn’t go down either.
I bring this up and get downvoted to hell.
I can tell you’ve never bought a house if you think you need $200K to do it. It’s more like $20K down and you refinance after a year to get a lower interest rate.
I can tell your house is nothing like what I’d wanna live in. If you can get a house for maybe 70k, yeah a downpayment of 20k works.
In most places a house will likely be 500k or above. Let’s just say 500k for the sake of argument… it’s a simple number for your simple brain. You’ll have to pay at least 20% up front. That’s 100k in my example. However, that’s quite an unreasonable thing to do in recent years, so I better suggest your downpayment be more than 30%, or 150k in this example. Generally, 40% is s very good downpayment in terms of long term financial security… that’s already 200k. So yes. 200k is what the average person should expect. 20k wouldn’t even get you the land.