Quote:
Originally Posted by JoMar
Actually I disagree, the older you are the less you chance of having a mortgage for 30 years. Assuming your investments return more than the interest rate the amount you pay out will be significantly less if you die within the 30 years plus the profit on the property when your kids sell it. If you're in your 50's maybe a different calculation but mid 60's and older, the financial position will be strongly in your favor.
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Agreed.
Although the market swings have been pretty volatile of late and investment returns for years may not even surpass the really low interest rates of mortgages right now, I agree it's much nicer to have the substantially extra cash in the bank from not paying all cash and just have a partial mortgage instead.
Even with a minimum return on investment income, it will take more years than we probably have left for the cash saved to even come close to being equal to paying an $800-$1,000 a month mortgage payment. And even a modest increase in housing prices in the next 15-20 years, will most likely still leave the kids with lots of equity.