So a little over a year ago, the wife and I started looking at houses. I initially had enough for 10% down and comfortable reserves after all closing costs.
After losing multiple bidding wars, many months down the line, my savings was still growing, and rather than letting it all sit, I decided to invest a significant chunk into stocks (mostly safer mutual funds/ETFs, some risker play around stocks), leaving enough for 10% down still if we found something we liked. I really wasn’t sure how long it would take us to get a house. It really felt like it could have been years and letting all that cash sit for that long felt like a shame. After talking to friends and family, and doing a good amount of research and crunching numbers, it really seemed like investing an additional 10% into long term stocks vs down payment on a house would yield more in the long run anyways.
Now, a little under year later, we finally went under contract for a house. I can still comfortably put down 10%, with good reserves/emergency fund. The only thing is, my stock investments are down pretty significantly (~15-20%) with how the stock market has been. I’m now thinking, I should have just saved that money and put 20% instead of 10%, which would have lowered my monthly payments by around $400-500, and saved me about $50/month PMI.
Part of me has been contemplating if I should just sell my stock investments at a 10-15k loss for the 20% down. The whole situation has me pretty depressed right now and feeling very remorseful. Now I’m sure a lot of my remorse is just how the market has been trending, and if it were trending the opposite direction I’d be feeling differently about my situation right now. What’s reddit’s opinion? Did I royally mess up?