ClinicalABA

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I know this is Friday thread and not house advice thread, but curious if homeowners here all put 20% down on their home when buying? Looking at a place today/this weekend!
Just consulted my wife who is a real estate agent. She said that most people DON'T put down 20%. A lot depends on the financing. 20% will allow you to avoid PMI, so that's and advantage.
 
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Start anonymously pranking another professional who is super uptight. Start worrying if you get to the point where you learn about sending crab lice via mail.
In a serious funk this week, and needed to read this.

Also, if you don’t want to prank your own: another opportunity to be each other’s alibi. I have an annotated list of uptight colleagues that could do with a good pranking. I would immediately be the suspect. And be fired.
 

ClinicalABA

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Friday Thread: Cheap Whiskey Edition-

Picked up a bottle of Evan Williams Black Label for $15. Quite drinkable in a Manhattan (though good Vermouth makes a difference), as well as by itself (on the rocks with a dash of Angostura).

Also picked up a six pack of Shed Brewery (VT) Mountain Ale. It's a very tasty English Strong Ale (7.4% ABV), Not too cheap, but also not one of these ridiculous $17 4-packs that seem to be the new thing.

Cheers!
 
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I know this is Friday thread and not house advice thread, but curious if homeowners here all put 20% down on their home when buying? Looking at a place today/this weekend!

We didn't. We bought in 2017 and put like 10% down. Although we had the cash for 20%, I was on my postdoc and wanted a sizeable reserve to start a private practice, should it come to that.

We did end up paying mortgage insurance to the tune of about $150 per month.

We just refinanced and PMI went away.
 
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PsyDr

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I know this is Friday thread and not house advice thread, but curious if homeowners here all put 20% down on their home when buying? Looking at a place today/this weekend!
I put 20% down on my primary residence.

Remember that real estate is an investment, you can always negotiate with underwriters, and that home inspectors don’t look at hvac or foundations.

and demand to look at the HOA’s Or condo association’s financial report. If they don’t produce it, or you see it doesn’t have enough capital... run. Don’t negotiate. Just start laughing, stand up, continue laughing while shaking your head, and walk out while laughing.
 
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WisNeuro

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I know this is Friday thread and not house advice thread, but curious if homeowners here all put 20% down on their home when buying? Looking at a place today/this weekend!
You will generally get the best rates with 20%+ down. Saves you money in the long run. And, given that home prices are definitely on the high end, a higher down payment can protect you somewhat from a price downturn and being underwater on that mortgage. I, personally, would not buy without a 20% down payment.

Also, to build on what @PsyDr said, get your own home inspector, DO NOT use the one that your real estate agent employs/contracts. I know more than a handful of people who had pricey repairs after buying because the agent's inspector did only a superficial lookover.
 

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I put 10% down on my house. I had my mortgage lender run the numbers with PMI and without and the difference in monthly was minimal for me. Since I was purchasing a foreclosure, I opted to keep the cash and put it into capital improvements. I had planned to refinance since I have significantly more equity in the home now due to capital improvements and payments, but I may be moving soon anyway.
 
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