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Buying A House Outright With Cash

Buying A House Outright With Cash

If you have the cash should you buy a house outright or through a mortgage?

Cash Outright House Buying

If you do not need the tax break buy it outright. It will save you thousands of dollars in interest payments. You can take what you would have spent on interest and invest it (very carefully in today's market ).

Never go into debt if you do not need to.

Buying A House Outright With Cash History & Civil Business Politics

I guess you need to first answer some questions.

1) Can you invest the money and get a higher rate of return then the mortgages rates?

2) Can you write off any part of the mortgage? In Canada we do not unless a buisness, then you might be better to rent.

I am sure other items I have missed but can not think of them right now.

Cash Outright House Buying

That's the question a high roller would ask. I wouldn't take all my cash reserves to buy a house unless I had a significant amount left over after the purchase.

Cash Outright House Buying

I believe that if you have the cash then yes buy the house with cash so you do not have to go into debt. The house is going to be a safe place to build capital. As housing prices go back up you are going to get a good return on your money. Having only property taxes to pay is a lot better than having a monthly mortgage included.

Buying A House Outright With Cash

For me, I still will do it only if its a fantastic bargain. I would't make a straight cash buy on regular real estate prices.

Buying House Outright Cash

With the price of houses falling you can get some real good steals out there now. I know a couple places I would love to buy and use as capital I just do not have the liquid cash to do it. I am not living pay check to paycheck but I am not rich right now.

Buying House Outright Cash Politics Business Civil & History

Don't be tempted. Take your time. This is what I usually tell young people. You want to enjoy where you live, not see it like a burden. Take your time and invest properly. It's wise to get financial advice before making a move of any type.