bluffratt wrote:
Beautiful house. Out of curiousity why buy it out right? That's a lot of money you no longer have instant access to, just a thought.
I will indulge Virus…
We are not blowing our entire wad on the house. That would be insane. We will still have a substantial amount of money that we will be able to access if things go tits up.
Also this.
KTurner wrote:
Why wouldn't you? No mortgage payment, no interest....
And add to it, if I loose my job, no one can take it away from me, I don’t have any debt (even though a mortgage is considered “good debtâ€) and we talked to a CPA who informed us that between house payments and writing off the interest, there isn’t a distinct advantage to carrying a mortgage IF you can buy it outright.
Samira wrote:
I'm betting you'd get an enormous incentive to pay cash for a house these days.
I think 50k below asking price is a huge incentive. ;)
Edited, Mar 9th 2009 10:31am by Aadyn Litefoot