November 15, 2023

How Much Should You Spend on Your Housing Down Payment?

27 minutes

Do you think that you need a hefty 20% down payment to dive into the real estate game? Well, you’re wrong.

But how much do you actually need to spend to buy a house? We get asked this question all the time, so we decided to create this episode to set the record straight.

Join us as we break down the numbers, demystify the difference between down payments and closing costs, and reveal the secrets savvy buyers use to make their money work smarter, not harder.

Wait, there's more! We're diving deep into the age-old dilemma: Should you go big with your down payment or keep some cash for other adventures? The answer might surprise you!

Oh, and here’s a hot tip: that Zillow mortgage calculator you’ve been relying on? Yeah, it’s screwed. Stick around until the end to find out why and what to do instead.

Get ready for real estate revelations, expert insights, and a dash of humor – your trusted real estate agents are here to guide you every step of the way.

Don't miss this episode. Your dream home awaits!

“Times have been changing, but also like the rules and the programs that become available have changed to accommodate the best that they can for the way that things have gone. Yes, the home prices have gone up from when our parents bought, and they could do 20% down. [...] Home prices got way more inflated with what people are buying right now, but [...] it’s also adjusted to overcome that.” - Jennifer Anusky

“I would argue that 20% [as a down payment] is not necessarily the best thing. But that is a remnant of a bygone era, and now the ‘conventional’ wisdom is: ‘Well, if you can, you should’.” - Seth Lejeune

In this episode:

- Do you only need the down payment to buy a house?

- The current standard down payment

- What should you do to have lower monthly payments?

- An actual case study of a millennial couple who bought a house

- What is an illustration in real estate?

- The hidden truth about the Zillow calculator

Connect with us 👇

Check out the Seth Lejeune Group - https://the-seth-lejeune-group-schwenksville-pa.remax.com/

Check out our website:

👉 https://asksethanything.com/

👉 https://www.januskygetsitdone.com/

Follow us on Instagram:

👉 https://www.instagram.com/asksethanything/

👉 https://www.instagram.com/januskygetsitdone/

Watch the full episode on YouTube: https://www.youtube.com/@Millenniup

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By Seth Lejeune & Jennifer Anusky

1515 ratings