<prompt> Human: Throwaway account since this is more personal with my financials than Id normally get. Wife and I are both full time employed total annual income 250k We have about 200k in savings not including retirement accounts mainly in actively managed investment accounts that can be liquidated at a moments notice I also own various shares in several private tech companies. The largest of which was last valued at 250k by a tender offer about 12mos I could have taken 250k at that time and chose not to ago and will likely stage another tender or go public by the end of 2015 Looking at a 3bed, 1065sqft condo in Brooklyn, priced well for the neighborhood, old construction, established building, ask 860k with 20 down strongly preferred Both the wife and I have excellent credit mine in the 780s hers somewhere over 720 I have a private banking relationship and can expect a .25 discount on a 30yr mortgage from them Were currently paying 2800mo for a slightly larger apartment with a private backyard, significantly worse light, and a slightly batty landlady. The apartment is also lacking a dishwasher, in building laundry, and the kitchen is pretty crappy. The condo has a much nicer kitchen, communal free laundry in the building, tons of light, a much much more favorable layout, communal backyard, storage in building but is a 3rd floor walk up. The neighborhood were in also has a ton of construction going on right now much of which will be new condos but will be priced 100-150sqft more coming out of the gate but offer amenities like on site parking and doormen. Because were in New York most of it will have tax abatements for 15 or 25 years so the out of pocket price will be similar.2 questions.1 If we put 20 down and bought this condo our monthly payment would be around 4400 including taxes and condo fees. Thats a big jump up from 2800, but my figuring is that wed get about 700 a month back as a tax refund for the interest portion of the mortgage 2400ish a month in interest payments at the start of the loan .3 that brings the difference down to 900mo but it means cleaning out most of our savings in down payment closing costs movers. We can certainly handle the higher out of pocket and are putting away plenty of money each month but would we be stretching ourselves too thin clearing out our savings like that?2 Assuming it wouldnt be too much of a stretch to make the purchase with the mathcircumstances above in mind should we just stay put, put away more money, wait on potentially several hundred thousand windfall that might not come but well be saving more besides and try to buy new construction with a much larger down payment that doesnt completely clean our our savings? Assistant: Youre ignoring the tax deduction from property taxes, and your 30 tax deduction number is low NYSNYC both allow you to deduct mtg interest. That said, do you really want to buy a condo without an in-unit laundry?Human: I guess I was figuring conservatively but thats a good point. My Dad said the same thing vis a vis laundry but compared to walking down the block to the laundromat walking down some stairs seems like a cakewalk.  <response>: Call me crazy..but without a laundry machine in-unit its an instant no for me. Is there any way to have one installed yourself? 