Quote:
Originally Posted by Chuck1674
You have 400k cash and 5k a month pension
Get a huge house with a mortgage.
Medium house with smaller mortgage.
Patio villa cash and 200 k in the bank.
What are your ideas? Do the kids and grandkids visit as much as u thought. That factors into it.
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As a thumb of rule, normally your present home goes up in value so if your a senior like me most of us should own our present homes so for me a mortgage at 70 yrs. old is out of the question so I've paid cash for my next home. In fact sorry to say we just sold our home here in The Villages & moving out of state & yes I'm paying cash for my newly built home that we're moving into. This is just me, but to take out a mortgage is money lost & I would just be adding to the price of my new home. Besides if I would dye I don't want my wife or kids to have a mortgage. So to answer your question about the the kids & grandkids, that's why we're moving.