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[quote=Anonymous][quote=Anonymous]just put like 60% down[/quote]

This is why "getting on the property ladder" by your early 30s is a good idea. Even if you just buy a condo that doesn't appreciate much, if you get a 30 yr mortgage at 30, you'll have hundreds of thousands in equity by your 40s. And again, that's on a home that doesn't appreciate and where you're just making your payments.

50k down on a 400k condo or starter home at 30, turns into 200k in equity by 45 with no appreciation. And you're looking at a low monthly payment so you can keep saving, and could easily have another 100-200k in savings (in addition to retirement savings and investments, I'm talking about just a separate savings fund for future home purchase). So then you're looking at 300-400k for a down payment at 45. If you are lucky and the condo appreciates a bit, you might have closer to 500k. Even if you are buying something for a million, you should be able to do a 15 or 20 year mortgage with a sizable down payment and still be done or mostly done with your mortgage by retirement.[/quote]

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