When I bought my first house more than 30 years ago the interest rate was 6.5% and that was a great interest rate. My ex-wife is a millionaire now because of that house. All I got out of it was enough money to put a 40%DP on my present house, bought two years ago just as things were starting to go nuts. 3% and glad to get it. It's in town. We could have paid much less and lived much further out but the people that do that usually hate it after the fog lifts. I doubt there will be much difference after 5 years in what I paid up front to live close in and what a suburbanite pays over time in living so far from work, shopping, repairs and just about everything else. Not having to own ANY car whatsoever is priceless don't let anybody tell you otherwise. There are kid friendly neighborhoods that are close in just about everywhere. Live close to your work or you may well end up being one of the millions who get to maintain a family you never see for the next 20 years.