Question 1

Is it cheaper to buy now or wait a year?

Accepted Answer

Use the cost-of-waiting module to compare rent paid while waiting against changes in home price, interest rate, and equity foregone. In flat markets, waiting can save if rates fall; in appreciating markets (2–4%/yr), buying sooner often wins.

Question 2

How much home can I afford with my DTI?

Accepted Answer

Conventional lenders target total debt-to-income ≤ 43% (often 36% preferred). With stable income and strong credit, some approve up to ~45–50%. This tool lets you tune DTI, down payment, taxes, and insurance to find a safe monthly payment.

Question 3

How fast does home equity grow?

Accepted Answer

Equity builds from principal paydown and appreciation. Even at 0% appreciation, a 30‑year mortgage pays down ~20% of principal by year 7. With 3% annual appreciation, 5‑year equity can exceed 20–30% depending on down payment and rate.

Question 4

When does downsizing make sense?

Accepted Answer

Downsizing can cut monthly costs (taxes, insurance, utilities) and unlock equity. If payment drops ≥ 20% or you free up >$100k equity, the breakeven versus transaction costs (typically 8–10% to sell + buy) is often within 3–5 years.

Question 5

How do neighborhoods affect affordability?

Accepted Answer

Property taxes, insurance, HOA, and commute costs vary by location. Comparing seemingly similar homes across ZIP codes can change monthly costs by hundreds of dollars—use the comparison view to see total monthly ownership cost.

Home Buying Decision Suite

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Home Buying Decision Suite

Down Payment Delay Calculator

Timing Comparison: Buy Now vs Wait

Buy Now (10% Down)

Wait (20% Down)

FHA (3.5% Down)

✅ Recommendation: Buy Now with FHA (3.5% Down)

The Cost of Waiting:

Frequently Asked Questions

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⚠️ Important Disclaimer