Save for down payment or buy a home now?

April 25, 2015 12:02 PM

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Are you saving up to buy a home down the road? It makes sense from a personal financial planning perspective, but when it comes to whether it actually helps you get your foot in the door, you may want to reconsider.

Why? In most cases, your ability to save is going to be at a much slower pace than the rate of appreciation of homes around your area. Put simply, if home prices in your area are on the rise, or interest rates go up, you may need to double or even triple how much you save on a monthly basis to keep ...

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