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randomando2020 t1_j1t9c2f wrote

No rent/housing cost is a god send. It is the single most drain of pretty much everyone’s budget so to not have it, milk that for as long as you can as larger down payment will avoid interest costs and frankly just cost of owning a house with repairs/taxes.

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justlikeofficespace OP t1_j1tajx9 wrote

It truly is the biggest expense for most people. I have a 20% down payment for my high COL area but the bidding wars have been quite crazy. It's not uncommon for folks to be outbid $50-100k last minute. I want some wiggle room with the extra cash on hand + 20% down.

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