Newsflash: (CA) I saved $30,000 for a Downpayment…is that enough?

I just reached $30,000 in my down payment savings account and wanted to get some outside perspective as to whether I should keep saving or start putting my future earnings into the stock market (mutual funds).My goal is to purchase a small condo for approx $300,000 in a hot market (Southern California) in the next 2-5 years, as I feel there is a market correction due eventually. I could be wrong…no one really knows$30,000 + closing costs (miscellaneous savings) should give me a 10% down payment…I’ll likely do a slow live in rehab to an outdated property so a lump sum for upgrades isn’t a must-have.Am I missing anything else with my logic that 10% down is a good way to go, so that I can focus on building my mutual fund portfolio (Currently have a IRA w/ $20,000+) for a more diversified portfolio?



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