Replying to Avatar Laser

IMHO if it threatens more than 15-20% of savings than you can't afford it.

Not in these times.
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Corban 5mo ago

When you say 15-20% of savings, are you referring to the total cost of the house, or some combination of a down payment, renovations, and the resulting monthly payment?

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Laser 5mo ago

My heuristic is house cost + 50% of house cost for improvements / completion of lifestyle goal.

Monthly payment after should be competitive with renting. Ideally better.

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Corban 5mo ago

Gotcha, makes sense to me.