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Buying a house

I guess I don't follow the logic of some of you who responded. If one has the means to buy a home with cash why would you not take that money and invest it, take a low interest home mortgage it becomes a win win situation. You earn interest on the cash and you write off the home mortgage! Why would you ever tie up that much money when you could make money on it? Sounds like a no brainier to me IMO.
 
Jeff Klarich said:
I guess I don't follow the logic of some of you who responded. If one has the means to buy a home with cash why would you not take that money and invest it, take a low interest home mortgage it becomes a win win situation. You earn interest on the cash and you write off the home mortgage! Why would you ever tie up that much money when you could make money on it? Sounds like a no brainier to me IMO.
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Jeff,
This is new to me and I am grateful for the replies and comments in all directions.
It was an early morning thought that started this research.

I woke this morning, at my usual time around 4:30, and thought the same thing about my investments.:newsmile093: I'm exploring my options.

Thanks again.
 
It has to be a rude awakening coming back to Minnesota from Asia, welcome back and good luck with your home search.:bigsmiley11:
 
Thanks for all the replies, advice and suggestions.

After viewing a lot of houses (with some interest and some disgust), and considering relative factors, I decided to gear down on the purchase idea. I've been gone a long time and need to understand things thoroughly from other than all other respected perspectives.

A shock greater than the weather is the price of renting. However, I found the lower level of of a split-level with a garage for the Fat Boys at a fair price.

Respectfully,
6gear
 
Lots of good advice here...

We rented for a year the last time we relocated. We felt a lot of pressure to buy right away, but were having trouble narrowing down the location. That year of renting allowed us to fully research the local area and market conditions. The only downside we had was owing the IRS a little more money since we lost the mortgage write off.
 
Have to say I'm w/Jeff on this one too - especially when mc2 plans to flip the home in the near future. Why not let your money work to your advantage & make a little in exchange. Paying ca$h would be preferred if they planned to be/stay retired & not want any debt + had other income means to draw from.

Also, marcus22 hit the nail w/the location advice. You can polish/flip a decent home into something fabulous, but all the time/effort/investment will drift away over time when the newly remodeled $300K house sits smack in a $150K residential area. Do some research and compare surrounding home valuations before your purchase and definitely get a licensed inspector in there to ensure there are no major issues (i.e. foundation, utilities, structural, etc.). Good luck!
 
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