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Forum » Getting a mortgage vs buying a house outright with cash?
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Thread: Getting a mortgage vs buying a house outright with cash?

post 1666928643 08-28-2022, 09:54 PM
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Originally Posted By DustinTheHuss⏩
In the US you're better off getting the tax breaks with a mortgage.

When I get my $2 million I'll probably still have $200K of a mortgage and then invest the rest, or retire and live off of it.
You're getting 2 mil off of your divorce?

Nice...
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post 1666928793 08-28-2022, 09:57 PM
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Originally Posted By iloveus⏩
You're getting 2 mil off of your divorce?

Nice...
House and stock options.

But that is poverty money here. I would need to move, which I don't mind because my daughter will be at college. I may get a little beach house and retire at 55 when she's done with college.
post 1666928813 08-28-2022, 09:58 PM
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Didn't read but compare rent to unrecoverable expenses like property tax, mortgage interest and maintenance fees.

If it's preferable to rent, then do some renting.

But also, leverage can be bad. If your house goes down in price, it goes down a lot.
post 1666929013 08-28-2022, 10:03 PM
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#64
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Originally Posted By DustinTheHuss⏩
House and stock options.

But that is poverty money here. I would need to move, which I don't mind because my daughter will be at college. I may get a little beach house and retire at 55 when she's done with college.
Why retire?

Yeah 2 mil in a home and stocks is little.

How are you going to get actual money? What's your income going to be like?

Personally, I would not touch that 2 mil. I'd reinvest it especially that house money. I wouldn't touch the stocks.
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post 1666933373 08-29-2022, 12:38 AM
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Can’t really make an informed decision without at least a basic analysis of the tax consequences

In Australia interest is deductible on investment properties but not on primary residence so most people load up on debt for investment properties and pay down the primary residence ASAP (or buy in cash if they can)
post 1666933713 08-29-2022, 12:54 AM
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Originally Posted By iloveus⏩
Why retire?

Yeah 2 mil in a home and stocks is little.

How are you going to get actual money? What's your income going to be like?

Personally, I would not touch that 2 mil. I'd reinvest it especially that house money. I wouldn't touch the stocks.
Women get pushed out of corporations at around 55. It happened to my Mom and she went into teaching. I mean maybe I could work part-time somewhere that isn't as stressful so I could go off of anxiety medication.

I have retirement/401K and other investments, too, but people in my family have lived until their 90s and I don't have 40 years of savings.
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