Thank you in advance for your help!
My wife (24) and I (23) are looking to save for a 20% house downpayment in the coming years. We are currently renting. After maxing our Roths, HSA, ESPP, giving/donating ~10% gross income, and contributing the employer match to our respective 401Ks, we expect to be able to set aside ~$12K annually (from extra cash and selling the ESPP) for a house downpayment.
We keep a small amount in our checking account to cover monthly expenses and pay off our CCs. Beyond that, we have a savings account with ~3 months worth of expenses.
When saving for a house downpayment, however, we would like to keep the amount in a separate account. Since we're not sure if we'd be buying a $60K town home in 1-2 years or a $200K home in 2-4 years (or anything in between), it seems that I-bonds may not be the best option. Can we hold separate savings account within the same bank for the downpayment (US Bank), should we utilize a Vanguard Money Market account, or try another avenue?