>Its a vicious cycle: you want to get your first home cheap, but then in 7-12yrs, when its time to get a bigger home, you want your current to have appreciated that you actually have 20%or more, to put down on the next one.
I actually do not care if my house is worth 20% or not before upgrading. Any sensible person should understand that it's simply not feasible. What I do care about is being able to save for that larger home, which is impossible when starter homes are as expensive as they are.
CheesypoofExtreme t1_iww8p2j wrote
Reply to comment by WirelessBCupSupport in Home sales fell for the ninth straight month in October, as higher mortgage rates scared off potential buyers by ChocolateTsar
>Its a vicious cycle: you want to get your first home cheap, but then in 7-12yrs, when its time to get a bigger home, you want your current to have appreciated that you actually have 20%or more, to put down on the next one.
I actually do not care if my house is worth 20% or not before upgrading. Any sensible person should understand that it's simply not feasible. What I do care about is being able to save for that larger home, which is impossible when starter homes are as expensive as they are.