Re: Closing on a new house when paying cash
WOW That sure sounds "iffy" to me. I've always invested in real estate and found it to be the biggest return on investment. No way would I want the large expense of a mortgage, even though the interest may be deductible, and to play the market would be a risk I'd rather pass on.
My advice would be to pay cash for the home where you know the money is safe and will appreciate. Regardless of the housing situation now, real estate is a far better risk, in my opinion. Why would you want the expense of a mortgage plus interest payments? If you ever need fluidity, one can always find various methods of getting your cash invested in your home via creative financing, i.e., reverse mortgage or equity loan, etc.
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Lexington MA, Chelmsford MA, Nashua NH, The Villages, Florida
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