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$600k for our first home

My gf and I are looking to buy a home that’s close to downtown Nashville. There’s a ton of new developments and the area has been growing a lot over the last few years. Houses that were selling for $250k in 2017 are now worth $425k.

The house we are buying is brand new 4 bedroom 3 bath. Her and I would be taking the master bed and we’d lease out the other rooms. After doing the math, the monthly house payments of around $3200, without tenants, would be about 30% of our monthly income. We have no other debt or student loans. Technically, we could pay the monthly for the house just by ourselves as well.

This home definitely isn’t going to be our forever home. Although, it’s close to a lot of cool restaurants and things to do nearby so we wouldn’t mind staying here a few years, but at some point we would like to sell it or lease it out to buy our forever home.

Should we put down 20% to reduce monthly payments or 5% to keep cash in hand for the forever home?

submitted by /u/M0shka
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source https://www.reddit.com/r/RealEstate/comments/pwghec/600k_for_our_first_home/
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