At your age, with your income and retirement savings? Go for it assuming you personally want to own, can afford to keep maxing your 401k with a mortgage, and aren’t on a hardcore FIRE path. Maybe even if you are. Yes that money will snowball if you leave it alone, but how long before it matters? Will you be happier using it to pay in cash in a decade, or will you appreciate the decade in a house more? I bought at 28 with less for a down payment and I’ve never regretted it.
Nowhere. But I’m planning so it’s as easy as it can be. I’m about where I expect to get in my career. An extra 100k out is essentially a year of my working life gone. I’m absolutely prepared to spend what makes sense and live a good life, but I don’t want to be stupid about it.
Plus, with interest rates where they are, the smaller the loan has to be the more we save over time. I’d just like to be responsible so when that dream home comes up we’re in the best position we can be.
Pronoia4 t1_je4ulb6 wrote
Reply to Is it worth taking money out of my brokerage to buy a house (description please) by [deleted]
At your age, with your income and retirement savings? Go for it assuming you personally want to own, can afford to keep maxing your 401k with a mortgage, and aren’t on a hardcore FIRE path. Maybe even if you are. Yes that money will snowball if you leave it alone, but how long before it matters? Will you be happier using it to pay in cash in a decade, or will you appreciate the decade in a house more? I bought at 28 with less for a down payment and I’ve never regretted it.