3 ms·

The thing is, is 20k really that significant when compared to the price of a large house?

• foldor 2y ago
  For many people yes, because that 20k isn't being added to the mortgage, so it isn't easily financed over a long period of time with low interest. These days, many people are stretched to meet the minimum down payment and won't have 20k extra to throw at a problem like this.
  • AndrewDavis 2y ago
    Redraw facilities are available in most countries? Refinancing etc? Genuinely curious. For example (in Australia), my mate recently spent $40k, drawn out of his mortgage on solar panels, battery, double glaze windows, heat pump heating and cooling, gas stove to induction, gas hot water to heat pump and is currently investigating drawing more to upgrade roof insulation.
    • ThunderSizzle 2y ago
      How can you refinance when you just bought the house? There is no equity for you to tap into, and if there was, you now even have a highly monthly payment. Housing prices have to decrease first if you want people to be able make these decisions. That means we need a deflationary economy through increased production, so more people can be able to afford the enhanced productivity.
• dimensional_dan 2y ago
  It is once you've maxed out what you can borrow and are now barely able to pay the mortgage and food.
• stephencanon 2y ago
  20k here, 20k there, and pretty soon you’re talking about real money. You don’t save much money building a house by cheaping out on any one thing, but it adds up pretty fast. That said, we have very nice triple-pane German windows in the house we’re currently building, and both the thermal performance and the finish quality are _wildly_ better than American window products. It’s just a whole different category of thing.