Idiomatic jQuery delayed event (only after a short pause in typing)? (aka timewatch/typewatch/keywatch)

Question

Here is some jQuery for a search box that I expect is actually an antipattern, and am sure there is a much better solution for that I would love to be pointed towards:

Answer 1

This is a more good way to do it, without using the plugin:

var timeout;
$('input[type=text]').keypress(function() {
if(timeout) {
    clearTimeout(timeout);
    timeout = null;
}

timeout = setTimeout(myFunction, 5000)
})