125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere.
I laughed out loud at this. You say it like he would actually be building equity from the start.
Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.
How is buying on the downside and watching a $120k down payment evaporate in two years a “good decision”? Why NOT wait until prices level out, when you can save that $120k and tens of thousands more by renting and live exactly the same lifestyle, and then have a larger down payment on a cheaper house and have actual equity from the beginning?
Personally, the satisfaction of ownership is not a good enough reason to make the decision to buy now. The pros of waiting so far outweigh the cons that it’s not even a question for me.
