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[NY] How to think about the percentage cash to spend on a house?

Hi folks,

I'd like to be a homebuyer in the near future (12-48 months). I have a rudimentary understanding of real estate and mortgages so would love some direction or educational resources.

What I'm trying to figure out is what percentage cash to spend on a home in today's market.

For example, for easy numbers, say one has 500K cash, and that represents 50% of their assets or something, and they want to buy a house worth $1M.

I would imagine that sinking an amount of cash in would allow for a cheaper or faster mortgage which may be useful with high mortgage rates currently.

But sinking that cash fully in would mean it's not investable elsewhere.

Are there "guideline" rules of cash based on net worth and home valuation?

submitted by /u/cijdl584
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/zy927e/ny_how_to_think_about_the_percentage_cash_to/
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