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smashinash023 t1_j2e1k5m wrote

Reply to comment by killaho69 in Wanting to make sure I can afford the houses that I'm looking at. by killaho69

how much do you have saved up for a downpayment and furnishings? I think the reason behind waiting another year would be to shore up your savings. you're fairly new into this job (which was a significant pay increase) and looking at a house that is 50% of your net income. having additional savings would be a huge buffer and make this feasible

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killaho69 OP t1_j2eu75h wrote

I've got about 15k that I've saved over the last year (5k of that in the last 2 months). By the time we close I might could be up to 20k. The new build is appealing because of the builder incentives. I can use their money to pay closing costs and maybe buy down some points, and hang on to more of my money to keep in reserve. Maybe I can negotiate even more.

I only plan to buy the absolute basics (beds, fridge, washer, dryer) and fill the rest in over time. I can put my socks and underwear in plastic drawers for a while.

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