I’ve always been curious if those who adhere to Dave Ramsey’s guideline of waiting until they have a full 20% saved before buying a home eventually come to regret that strategy. It seems that while home prices continue to climb and many remain stuck chasing that 20%, others using lower down payment options, such as FHA loans, are managing to secure modest homes and build equity. Has anyone experienced this firsthand?
Following a disciplined approach by saving a full 20% down payment has proved to be a calculated decision in my experience. Although the method extended my timeline to home ownership, it granted me solid financial footing when I finally made the purchase. The additional reserve not only made the mortgage more manageable but also provided a buffer against unexpected economic shifts. The emphasis on avoiding high-risk debt, in the long run, enhanced my investment’s stability. In retrospect, the delay was a strategic choice that prioritized long-term financial security over the potential short-term benefits of hastier decisions.
i thnk waiting 20% delays yer start. i did a smaller down and built equity quicker, albeit with a bit more risk. it’s not perfect, but i’d say my gains outweighted the extra caution.