My family and I are hoping to move to a mustachian sized, anti-mustachian priced home in a new city in 3 - 4 years. I'm confident the proceeds from the sale of our current home will cover at least a 25% down payment for this new home, but that would still leave us with a very significant monthly mortgage payment, so I am inclined to put down closer to 40 or 50%.
My question is where should I be putting our money for the next 3 - 4 years to save for this down payment?:
- TIPS
- Bond Index Fund
- Pay down current mortgage and use a bridge or home equity loan to buy the new house
- Savings Account
- Invest normally and just put 20-25% down and suck up the higher mortgage payments
- OR something else entirely
Any suggestions would be greatly appreciated.
Thank you