Quote:
Originally Posted by VApeople
That is a very good point.
In our case, we paid cash for our new house in The Villages six years ago, but we got our money because some nice young buyers in Virginia took out a loan to buy our previous house.
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We took a 70% mortgage, because rates were ridiculously low at the time... (under 2.8%)...
We probably could have paid cash, but actually did much better leaving that money in our investment portfolio (even with the crappy year we had last year)...
But with rates now over 7%, we may have changed our plans if we had to do it today...
We'll eventually sell our home up north and maybe buy a small condo so we can visit the kids on a regular basis, but we'll cross that bridge when we get there...