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The Tesla Model Y has been available since in America including the USA, Canada and Mexico, and became available in the rest of the world over the following years. There are now many used cars available in most markets and new inventory generally means short delays from order to delivery. We run through the history, the options, what we think are the common issues and make some suggestions on what to buy in our Ultimate Buyers Guide to the Model Y.
A word of caution about YouTube reviews. Tesla make the Model Y in 4 factories now, and there are some notable differences between each, so when watching any review you need to be mindful of the differences. Cars have been built in Texas using battery cells wshereas other factories are using the previous generation batteries. There are also differenceds in equipment, generally small items but can include the differences between Autopilot HW3 and HW4, and some country specific difference, such as cars built for China seem to have an interior make over which is not present in other Fremont built cars for export.
This all goes to show the Model Y, which is now Teslas biggest selling model, has many variatiables, a subset of which you can have depending where you live. Each unique model has a reference number and we cover all the codes we are aware of later in this document, and this code can be realtively easily found for your car.
You may already know the Model Y is the car you want, and we have a guide to the Tesla model differences. The Model Y really does show the accumulated knowledge Tesla have gathered, and as a design it is more resolved than even the Model 3 on which it appears to share much of the detail. This is most readily seen by simply opening the trunk/boot. The hinges on the Model 3 are clunky and look like a design from the s whereas the Model Y are altogether better designed. You may think this does not matter, but better design means better durability, less likely to develop creaks, better panel alignment etc. To us, the Model Y is also the sweet spot in the range. The performance variants of the other models grab a lot of headlines, but the Model Y is plenty fast enough. The updated MS and MX are still underpinned by older battery cells (albeit new battery packs) and an aging chassis design. For us, the MY is probably the real mass produced car Tesla needed and the sales show this to be the case.
It is worth reflecting briefly on why you might choose one of the other Teslas from their line up. The main alternative to the Model Y is the Model X for practicality, albeit it at a much higher price. Even used Model X cars are expensive and we question the reliability as they start to age. For the similar money a new Model 3 is an option although while many claim it is as large inside, the rear is still relatively compromised for adults and we feel, as mentioned above, aspects of the design are poor in comparison. This car was designed and implemented at the time when Tesla were on the brink of going under. A used Model S is also an alternative although like the Model X, this is starting to show its age in pre facelift guise, and even the facelift is not without its issues.
The Model Y is in the hottest segment of all EVs, the compact SUV, and as such has the most competition. Which you chose really depends on what you value most. There are such as the ID3, Enyaq and MG, and around the same price, if not a little less, cars such as the Enya ID4, Ioniq 5, EV6 and even cars such as the BMW iX3 are all very credible cars. The Model Y was slightly expensive for what you get, but Tesla have been consitently dropping prices during making it more competitive to buy, however the downside of such measures has also massively hurt the residual value.
The Model Y is widely available as new, nearly new or used cars, and we've a guide to saving money buying a Tesla which covers the different choices in more detail. The key differences in summary however are:
When we first wrote this guide depreciation was not a concern for Tesla owners in general, and the Model Y being a relatively new model faired even better. In some market, as recently as late used cars were trading above new prices such was the demand for the car. Depreciation, fueled by a variety of factors, some based on world economics, some based on a changing sentiment towards Tesla, some based on increasing competition, and some based on Tesla's price cutting to grow volume, has now become a significant concern. The reason does not really matter, cars now depreciation rapidly, and while that offers potentially good value to the used buyer, even a used one year old Model Y bought a year ago has lost around 20% of its value since then which is not inconsiderable. There is also a lot of choice, so cars approaching out of warranty or have been badly treated need to be very cheap to sell.
While the Model Y is still relatively new there have been a number of changes and a wide range of variants as we mentioned earlier. The two main areas are the battery which has seen some small capacity upgrades, plus a mixture of LFP and even battery cells, and the MCU (media control unit) which from late /early has started to shipped with the later Ryzen processor as used in the Model S and X.
A rear load cover or parcel shelf was also introduced over with most production having it by the end of Q2.
The suspension has also been a widely debated topic as the cars do have a firm and unforgiving ride. The suspension has been said to be improved in late / but we've not sure how much of it is really down to changes in spring and damper rates, and how much of the change is down to updates to the tires Tesla use.
For a full list of the changes and in which year see our guide to Tesla model Y history and changes over time.
The Model Y comes in Long Range AWD and Performance AWD. In some markets a standard range model is or has been available, and this can be in AWD or RWD depending where you are. The performance of the P models over the LR has been largely off the line and once doing above 30 mph there is little in them, and for those reasons we'd suggest the smart choice really is the Long Range. The car is still quick by most standards and the chassis dynamics mean the Performance model is unlikely to ever be a more rewarding drive.
The Model Y is now made at 4 factories, Fremont, China, Berlin Germany and Austin, Texas. German production was originally limited to EU LHD Performance models with LR models starting in August , both using the BT43 battery first seen in the China production cars. Texas uses the first battery cells as part of a new entry level model. This car has a battery capacity of approx. 67kwh, or about 18% less than the Long-Range model built in Fremont. There is also rumour that Berlin could make its own version of the MY with a structural battery pack and LFP battery with performance below the LR model, but there has beem no evidence of this so far.
The Model Y is one of the more efficient EVs for its size you can buy, but its larger size means as speed increases then the effect on range also increases compared to the Model 3. That said, the LR model is still a very capable long distance car. We advise to work on 10% to 90% as the working range, and in winter assume only 80% of the efficiency. In effect 80% of 80% of 330 miles or 210 miles is worst case in winter. In weather above 10 deg C, and speeds less than 70 mph and 250 miles is readily achievable.
Tesla use 2 different conventions for naming batteries. In the car configuration which you can sometimes access through MyTesla and can see when looking at inventory cars they use a code such as BT37, whereas on formal import paperwork they use a code such as Y5CD. Websites like TMC often discuss the batteries using the Y5CD type codes but potential buyers then have difficulty matching that to inventory in their region as Tesla don't use these codes in their inventory listings. To add further confusion, the the Y5CD is the same as the E5YR battery, the former being the Model Y AWD, the later being the Model 3 Rear wheel drive. The middle letters are what is important. The table below helps match one to the other:
Standard Range and RWD
Each Tesla has a model code which is a combination of various factors including the battery. There are a surprising number of permutations which we list in the table below. This is important the model code is relatively easy to find in MyTesla just by looking at the image link of the car. From this model code you then determine the battery code and using the table above the alternative battery code if you so wish.
Tesla give each model an internal code which changes when updates to the battery or motors occur or when changes such as the addition of a heat pump can make a material difference. We have covered elsewhere how you find your version number but for the Model Y these all start MTYxx. We list the versions, the battery code, and the key performance data.
This was one of the initial Standard Range models that was only available in NA.
This appears to have been a China specific model and the performance rating system is unusual as it is for the local market. Cars are usually tested against EPA and WLTP.
This is an unusual model code in the sense that Tesla have used two different battery codes, although this does reflect te factory of production. We have seen the odd car reporting the battery from the other factory, we suspect these may be cars that have had a battery swap.
This model has only been seen against cars built for the China market and as part of the update. We suspect this may be the reference used on cars with the updated interior that some believe may come to other markets, but is not the Juniper release.
This model code was first seen in late as part of the update and the cars all seemed destined for the North America markets including the US, Canada and Puerto Rico. While RWD MY are often built in Texas, the data suggests this model was only built in Fremont.
This model code was first seen in early and therefore is build will have commenced in late probably with some small model year changes.
This is the second model to be made out of Berlin.
This is the first Model Y to be built and was destined only for the North American market.
This is the revised MY LR with larger BT42 battery. For some unknown reason the cars are still reporting the same range as the smaller battery which we suspect is a data issue at Tesla, or the cars haven't been retested. Texas has also been used to build some of these cars. The cars appear very similar to MTY11, the primary difference is a change in the motors. The MTY06 uses FD00 and RD01 motor codes.
While the Fremont production was getting the BT37 then BT42 batteries, China production for Europe and APAC were getting the BT38 for a while before changing to the BT43 battery (using a differnet model code).
While the Fremont production was getting the BT37 then BT42 batteries, China production for Europe and APAC were getting the BT38 for a while before changing to the BT43 battery (using a differnet model code).
The MTY11 seems to have picked up where the MTY06 stopped, although it uses the same battery. The orimary difference appears to be the Fremont built cars have the motors FD00 and RD01, whilst the Texas cars use FD00 and RD07 motors.
The earliest examples een of this car date from Nov as part of a model year car. The car has so far only been seen in the China market.
This model code was first seen in early and therefore is build will have commenced in late probably with some small model year changes. Only seen in the US market.
The first MYP for the North America Market.
The updated MYP for the North America Market with a larger battery. Tesla use a mix or rear motors even today.
This is the MYP model that has been sold in Europe and APAC.
The Berlin factory opened and the initial mnode it made was the MYP for Europe. Europe has a mixture of Berlin and China production now as the MTY10 is also still available.
This appears to have been an export model built in Germany and shipped to Taiwan, and the export to Taiwan from Berlin rather than China may be a political measure and not a simple logistical one.
TBA
It is worth noting that Tesla list performance model specifications with 1 foot roll out. This reduces the time by approx. 0.2s, so this should be added to the 0-60 times to get a comparable time to those of the other models.
All Model Y cars come with Autopilot hardware so the only material choice is the software level installed. Autopilot is standard on most cars; we feel paying extra for Enhanced Autopilot or only a sensible option if you can make use of the features such as extensive use of the lane change and auto parking. FSD is worth very little over EAP except in the US if the car is on the Beta trial. We don't feel the $10k/£8k asking price from Tesla is ever reflected in used car prices.
To determive the Autopilot hardware version, we have produced a Autopilot Hardware Guide, but at the time of writing (July ), US production from late May was HW4, China aappear to have sweitched to HW4 around March and VIN whilst Berlin production is still using HW3.
The model Y is fairly light on options besides colour and interior. There are however a few to look out for:
The Long Range has almost always had a choice of wheel size. Larger wheels tend to look better, but are more prone to accident damage and reduce range. The standard LR wheels are often seen without the wheel covering which makes them look significantly different but they are in fact the same wheel. The removal of the aero cover does reduce range slightly. We would suggest the standard wheels and if you prefer the blacked-out look, either get them repainted or buy some relatively inexpensive wheel covers.
The towing package is now both an option at order time and a service centre fit option at the same price of around $/£. It's not clear whether there are any actual differences between the two, we suspect not, and think the tow pack may even be fitted by the service centres prior to delivery rather than a true factory option.
You may see Long Range cars advertised with an Acceleration boost. This is a software option and can be purchased for LR cars and would be activated by an over the air update. It makes the car a little quicker and as an alternative to buying the Performance model is cheap, but the Model Y never feels like it needs more power.
We're also starting to see this option appear on other AWD models such as the Austin built cars.
Some early cars had this as standard but it can be purchased after sale and fitted by Tesla.
These are now standard on even the RWD model, however some early SR+/RWD cars may not have them enabled. This can be done via a software update. Heated steering wheels however can't be turned on afterwards, the car either has a heated steering wheel or not.
Some of the Model Y now have the option of 7 seats, although the practical use of these is limited to relatively small people. We would suggest the option is not worth considering.
To find out what is activated in the car follow this guide on how to find out what hardware versions a Tesla has. Many dealers are now including the required pictures in their adverts and those that do, clearly understand the cars.
No Model Y came with unlimited free supercharging for the life of the car. Tesla have however offered a year free supercharging to cars delivered at the end of . It is not clear if this is transferable to new owners within the year, generally speaking since any free supercharging given to new car buyers has not been transferable.
The Model Y was a new platform and Tesla seem to have learnt from a number of the previous issues, however they have also introduced some new ones. Most of the issues are factory issues and not ones that develop over time so the owner or a good condition car is likely to run into fewer problems over time, however getting a car in good condition can be harder than it should be because of Tesla's stance.
The Model Y build quality is much better than the Model 3 was at launch. While panel gaps can still be an issue, this is becoming less so.
Tesla paint is notorious for being soft and easily chipped. The paint did suffer from run marks and sanding marks from the factory and a number of car detailers refused to touch the Model Y (and Model 3) following an inspection they were that concerned although thankfully things do seem to be improving. The advantage the Model Y has over the Model 3 is more plastic trim in vulnerable areas and some PPF coating in front of the rear wheels. Still a relative weak spot for the brand.
Cars with LED lights tend to suffer in general with condensation forming within the light cluster and the lack of heat (due to not using incandescent lights) can mean this persists. A small amount is to be expected simply due to atmospheric conditions, but if the drain is blocked then water can build up eventually causing the unit to fail.
The Model 3 suffered from a number of issues with the heat pump including failed units and poorly written software. Most of these have been addressed and the implementation in the Model Y is much better.
It's a sad reflection on Tesla that cars are delivered with some fundamental issues, many of which are trivial to fix. Massively over inflated tyre pressures, brake pad clips fitted incorrectly and USB ports not connected illustrate the wide range of issues that should not occur on any new car, let alone one costing as much as Tesla's do.
Tesla have been parts constrained from time to time and have switched to using older parts in some production runs. For instance, the matrix headlights were introduced and then swt5iched back to the non-matrix lights for a while. As the matrix lights perform the same as regular lights the benefit of matrix is limited at this time, although this may change in the future.
Model Y cars come with 2 manufacturer warranties. One covers the battery and motor for 8 years and 100k or 120k mile warranty depending on battery size, whichever comes sooner. This covers the owner against failure or battery degradation although Tesla have written into the warranty that that battery losses due to software changes are allowed.
The second warranty is the general car warranty for everything else. This lasts for 4 years or 50k miles, which comes sooner.
We feel the Long Range is the perfect balance of range, performance and comfort. The performance models move to bigger wheels which hurts the ride, and are not that much quicker on the move. That said, the RWD models with the LFP battery available in some countries also looks a good buy and a useful saving over the LR model. We'd avoid the Performance model, not because it's bas as such, but we feel the character of the car is more suiteed to the slightly slower models, and the 20" wheels are the least forgiving of all, and if the ride doesn;t get you, a pot hole will probably cause damage to the wheel sooner than later.
You can check the whole market and compare prices between models on our Inventory listings.
Whether you've done it before or not, the challenge of buying a home can be incredibly daunting. It's tempting to either just go with the first place that falls in your price range or continue to rent. To help you demystify the process and get the most out of this purchase, let's examine what you'll need to consider before you buy, what you can expect from the buying process itself, and some handy tips to make life easier after you move into your home.
Use this information'and the rest of the material in our Complete Homebuying Guide'to work through the complex process of getting started, budgeting for a home, finding one, checking it out, learning buying's key concepts, and getting a mortgage.
Considerations Before You Buy
The first thing you'll need to determine is what your long-term goals are. Then, consider how home ownership fits in with those plans. Some folks are simply looking to transform all those "wasted" rent payments into mortgage payments that actually lead to owning something tangible'equity, baby! Others see homeownership as a sign of their independence and enjoy the idea of being their own landlord. Then, there's the issue of thinking of buying a home as an investment.
Narrowing down your big-picture homeownership goals will point you in the right direction. Here are six questions to ask yourself:
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1. What Type of Home Best Suits Your Needs?
You have several options when purchasing a residential property: a traditional single-family home, a townhouse, a condominium, a co-operative, or a multi-family building with two to four units. Each option has its pros and cons, depending on your homeownership goals.
It's up to you to decide which type of property will help you reach those goals. You can also save on the purchase price in any category by choosing a fixer-upper (although the amount of time, sweat equity, and money involved to turn a fixer-upper into your dream home might be much more than you bargained for).
2. What Specific Features Will Your Ideal Home Have?
While it's good to retain some flexibility in this list, you're making perhaps the biggest purchase of your life; you deserve to have that purchase fit both your needs and wants as closely as possible. Your list should include basic desires, like neighborhood and size, all the way down to smaller details like bathroom layout and a kitchen that comes with trustworthy appliances. Real estate websites can be a valuable tool for researching properties that satisfy your desires and requirements for your new home.
3. What Size of Mortgage Do You Qualify For?
Before you start shopping, it's important to get an idea of how much a lender will actually be willing to lend you to purchase your first home. You may think you can afford a $300,000 place, but lenders may think you're only good for $200,000'depending on factors like how much other debt you have, your monthly income, and how long you've been at your current job.
Make sure to get preapproved for a loan before placing an offer on a home. In many instances, sellers will not even entertain an offer that's not accompanied by a mortgage preapproval. In addition, many realtors will not spend time with clients who haven't clarified how much they can afford to spend. Begin by researching lenders and comparing interest rates and fees. Then, submit your application for a mortgage and include the supporting documentation requested by your lender to verify your income and debt.
4. What Kind of Home Can You Actually Afford?
On the other hand, sometimes a bank will give you a loan for a more expensive house than you really want to pay for. Just because a bank says it will lend you $300,000, doesn't mean you should actually borrow that much. Many first-time homebuyers make this mistake and end up 'house-poor''meaning after they pay their monthly mortgage payment they have no funds left over for other costs, such as clothing, utilities, vacations, entertainment, or even food.
In deciding how big a loan to actually take, you'll want to look at the house's total cost, not just the monthly payment. Consider how high the property taxes are in your chosen neighborhood, how much homeowners insurance will cost, how much you anticipate spending to maintain or improve the house, and how much your closing costs will be.
5. Do You Have Serious Savings?
Even if you qualify for a sizeable mortgage, there will be a considerable upfront cash outlay that includes your down payment (3.5%'20% of the purchase price) and closing costs.
When it comes to investing with an eye toward purchasing a home'a short-term goal'one of the biggest challenges is keeping savings in an accessible, relatively safe vehicle that still affords a return. If you have one year to three years to realize your goal, then a certificate of deposit (CD) may be a viable option. It's not going to make you rich, but you aren't going to lose money either.
The same idea can be applied to purchasing a short-term bond or a fixed income portfolio'it will give you some growth but also protect you from the tumultuous nature of the stock markets.
If the home purchase happens in six months to a year, then you are going to want to keep the money liquid. A high-yield savings account could be the best option. It's important to make sure it is FDIC insured so that if the bank goes under you can still have access to your money up to $250,000.
6. Who Will Help You Find a Home and Guide You Through the Purchase?
A real estate agent will help you locate homes that meet your needs and are in your price range. Then, they will meet with you to view those homes. Once you've chosen a home to buy, these professionals can assist you in negotiating the entire purchase process, including making an offer, getting a loan, and completing paperwork.
A good real estate agent's expertise can protect you from any pitfalls you might encounter during the process. Most agents receive a commission, paid from the seller's proceeds.
The Buying Process
Now that you've decided to take the plunge, let's explore what you can expect from the home buying process itself. This is a chaotic time with offers and counteroffers flying furiously. But if you are prepared for the hassle (and the paperwork), you can get through the process with your sanity more-or-less intact. Here is the basic progression that you can expect:
1. Find a Home
Make sure to take advantage of all the available options for finding homes on the market, including using your real estate agent, searching for listings online, and driving around the neighborhoods that interest you in search of for-sale signs. Also, put some feelers out there with your friends, family, and business contacts. You never know where a good reference or lead on a home might come from.
Once you're seriously shopping for a home, don't walk into an open house without having an agent (or at least being prepared to throw out the name of someone you're supposedly working with). You can see how it might not work in your best interest to start dealing with a seller's agent before contacting one of your own.
If you're on a budget, look for homes whose full potential has yet to be realized. Even if you can't afford to replace the hideous wallpaper in the bathroom now, it might be worth it to live with the ugliness for a while in exchange for getting into a house you can afford. If the home otherwise meets your needs (in terms of the big things that are difficult to change), such as location and size, don't let physical imperfections turn you away.
First-time homebuyers should look for a house they can add value to, as this ensures a bump in equity to help them up the property ladder.
2. Consider Your Financing Options and Secure Financing
It'll behoove you to make sure your personal finances are in order. Generally, in order to qualify for a home loan, you have to have good credit, a history of paying your bills on time, and a maximum debt-to-income ratio of 43%.
Lenders these days generally prefer to limit housing expenses (principal, interest, taxes, and homeowners' insurance) to about 28% of the borrowers' monthly gross income, though this figure can vary widely, depending on the local real estate market.
Once you've settled on a lender and applied, the lender will verify all of the financial information provided (checking credit scores, verifying employment information, calculating debt-to-income ratios, etc.). The lender can preapprove the borrower for a certain amount. Be aware that even if you have been preapproved for a mortgage, your loan can fall through at the last minute if you do something to alter your credit score, like financing a car purchase.
Don't be bound by loyalty to your current financial institution when seeking a pre-approval or searching for a mortgage: Shop around, even if you only qualify for one type of loan. Fees can be surprisingly varied, as can mortgage interest rates (which, of course, have a major impact on the total price you pay for your home).
Some authorities also recommend you have a backup lender. Qualifying for a loan isn't a guarantee your loan will eventually be funded: Underwriting guidelines shift, lender risk-analysis changes, and investor markets can alter. There can be cases of clients signing loan and escrow documents, and then getting notified 24 to 48 hours before the closing that the lender froze funding on their loan program. Having a second lender that has already qualified you for a mortgage gives you an alternate way to keep the process on, or close to, schedule.
3. Make an Offer
Your real estate agent will help you decide how much money you want to offer for the house, along with any conditions you want to ask for, like having the buyer pay for your closing costs. Your agent will then present the offer to the seller's agent; the seller will either accept your offer or issue a counteroffer. You can then accept, or continue to go back and forth until you either reach a deal or decide to call it quits.
Before submitting your offer, take another look at your budget. This time factor in estimated closing costs (which can total anywhere from 2% to 5% of the purchase price), commuting costs, and any immediate repairs and mandatory appliances you may need before you can move in.
Also, think ahead: It is easy to be ambushed by higher or unexpected utility costs, property taxes, or neighborhood association fees, especially if you're moving from a rental or an apartment situation where you haven't encountered these things before. You might request the water and energy bills from the past 12 months to get an idea of the average monthly outlay.
If you reach an agreement, you'll make a good-faith deposit and the process then transitions into escrow. Escrow is a short period of time (often about 30 days) where the seller takes the house off the market with the contractual expectation that you will buy the house'provided you don't find any serious problems with it when you inspect it.
4. Obtain a Home Inspection
Even if the home you plan to purchase appears to be flawless, there's no substitute for having a trained professional inspect your potential new home for the quality, safety, and overall condition. If the home inspection reveals serious defects that the seller did not disclose, you'll generally be able to rescind your offer and get your deposit back. Negotiating to have the seller make the repairs or discount the selling price are other options if you find yourself in this situation.
5. Close or Move On
If you're able to work out a deal with the seller, or better yet, if the inspection didn't reveal any significant problems, you should be ready to close. Closing basically involves signing a ton of paperwork in a very short time period and hoping that nothing falls through at the last minute.
Things you'll be dealing with and paying for in the final stages of your purchase may include: having the home appraised (mortgage companies require this to protect their interest in the house), doing a title search to make sure that no one other than the seller has a claim to the property, obtaining private mortgage insurance or a piggyback loan if your down payment is less than 20%, and completing mortgage paperwork.
Special Terms for First-Time Homebuyers
First-time homebuyers have a wide variety of options to help them get a residence, from state programs, to tax breaks, to federally-backed loans for those who don't have the standard 20% minimum down payment. Individuals in special identity categories, like Native Americans and veterans, may also qualify for special assistance. And while the definition of a first-time homebuyer seems self-evident, you might actually qualify as one even if you aren't a novice.
The U.S. Department of Housing and Urban Development (HUD) defines a first-time homebuyer as someone who meets any of the following conditions:''
Even the IRS gets into the act, letting you use an IRA (in a limited way) to finance a purchase.'' It definitely behooves you to check out the special benefits for first-time homebuyers.
Congratulations, New Homeowner. What's Next?
You've signed the papers, paid the movers and the new place is starting to feel like home. Game over right? Not quite. Let's now examine some final tips to make life as a new homeowner more fun and secure.
1. Keep Saving
With homeownership comes major unexpected expenses, like replacing the rain gutters or getting a new water heater. Start an emergency fund for your home so that you won't be caught off-guard when these costs inevitably arise.
2. Perform Regular Maintenance
With the large amount of money you're putting into your home, you'll want to make sure to take excellent care of it. Regular maintenance can decrease your repair costs by allowing problems to be fixed when they are small and manageable.
3. Ignore the Housing Market
It doesn't matter what your home is worth at any given moment'except the moment when you sell it. Being able to choose when you sell your home, rather than being forced to sell it due to job relocation or financial distress, will be the biggest determinant of whether you will see a solid profit from your investment.
4. Don't Rely on Selling Your Home to Fund Your Retirement
Even though you own a home, you should still continue to save the maximum in your retirement savings accounts every year. Although it may seem hard to believe for anyone who has observed the fortunes some people made during the housing bubble, you won't necessarily make a killing when you sell your house.
If you want to look at your home as a source of wealth in retirement, consider that once you've paid off your mortgage, the money that you were spending on monthly payments can be used to fund some of your living and medical expenses in retirement.
The Bottom Line
This brief overview should help put you on the path toward filling in any gaps in your homebuying knowledge. Remember that the more you educate yourself about the process beforehand, the less stressful it will be, and the more likely you will be to get the house you want for a price you can afford.
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