Probably the best answer works like this: Is there a better place to put your money? Is there an alternative investment that will produce like returns with equal risk? Is it simply more comfortable as a matter of personal preference to pay cash? The decision to pay cash or not pay cash includes both economic considerations and personal choices. Many people simply prefer a home that is free and clear of all debt. Several advantages can be obtained by paying all cash. There is no mortgage application and no need for private mortgage insurance. There is also no mortgage interest to write off.
However, if you elect to pay all cash, be sure to insist on the protections that a lender would want a title inspection, title insurance, survey, termite inspection, appraisal, etc.
It may be worthwhile to sit down with a tax professional or a fee-only financial planner to review the consequences of paying all cash or financing.
Not all buyers and their situations are the same. I have extensive experience in helping buyers make the right choice whether you are looking to purchase as an investment or the home you will live in. I can help guide you to make the right decision. Give me a call on my 24 Hour Buyer Hotline 989.494.1BUY (989.494.1289) or visit http://www.ForSaleByJeff.net
-Gotta Get Movin’
Jeff McIntyre
989.277.3510
Jeff@ForSaleByJeff.net
http://www.ForSaleByJeff.net
Check out my new blog “Movin’ Shiawassee” at http://www.JeffMcIntyre.com
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