Why now?

This blog is going to focus on buying and owning a house in Israel.

We are a late 20s family, one child, for now.  Since we got married, we're lived in various Yechidot Diyur - efficiency apartments created by landlords who either subdivided existing apartments or added on to their own houses. 
Until this year, you needed to cough up around 40% of the cost of a house for a down payment.  There was an option of borrowing that money through EMI and having it rolled into your mortgage, leaving you with very high monthly payments.  In short, you'd be able to afford the down payment, but every month would be a nightmare.

This year, the law changed.  Now, you need between 20 and 30% for the down payment, but can't use a group like EMI.  The new law also says that people who buy investment properties, ie second or third properties have to come up with 50% of the cost of the property.

The 20% peaked our interest, because while we don't have 40%, 20 is a much easier number to swallow.