State of the Market Mega-Thread - Q1 2022!

Any advice on this situation?

I took a paycut and moved across the country. Many reasons why. I sold a house in a good bit stellar market, have very low 6 figures for a combination of house down payment and part time MBA. What I would like to do:

  • put about 10% down on the home purchase to give myself room to cover any inspection items (plan to waive any repairs under $2k each or something like that, but not the whole contingency) and pay for any updates needed because I plan on not being super competitive for turnkey properties
  • have about $60k set aside for the part time MBA which would cover (with already existing savings) about 2/3-3/4 of the tuition. Finance or save to pay for the rest

Is this asinine? Will I be a non-competitive buyer? I could put way more cash towards the down payment but it would 1) prevent me from covering any inspection items, 2) prevent me from paying for any updates, and 3) cause me to finance more of my MBA than I planned, and I’d rather have mortgage interest at 4ish percent than loan interest around 5-6%. I’ll be in a very competitive price point for my market $350k-$450k. Not planning on looking at the hottest neighborhoods, but still “good” ones.

/r/RealEstate Thread