I always encourage my clients not to buy more than they have to. Moving up is always easier than moving down. I encourage 20% down on financing, so you're looking at 200-250K depending on down payment.
Well I think the family would put about 80-100k$ down on a home if we needed and I am being conservative with the 40-50k$ because I know that much is for sure.
My big thing is that my educational background, research done with professors and so on would suggest that interest rates are not going to stay in the 3-4.5% rate forever. If they go up and inflation also goes above that range, from an investment standpoint, that is money in the bank.
My fiance and I are fairly simple. Not big travelers and our families have family vacations for everyone that they pay for, we do not drink and what we enjoy socially is fairly inexpensive. I guess from a housing market in a low, interest rates artificially low and my expectations of those market conditions changing, I don't want to not take advantage. Especially since my fiance is very domestic and her home is the only thing she wants to spend money on.
This post was edited on 3/2 at 1:24 pm