Patrick Rumore - The NJ Homeowner’s Guide to Lower Taxes and Better Living

CHAPTER 12 (BONUS CHAPTER 1)

PAYING CASH VS GETTING A S GETTING A MORTGAGE: WHAT MAKES THE T MAKES THE MOST SENSE FOR YOU Many of you may be in a fortunate position. You might have enough equity, savings, or investments to buy your next home in cash. If that is the case for you, first of all, recognize that you have options that most buyers do not have. That is a very good place to be.

But that also raises a big question:

If you can pay cash, should you?

My personal bias is that many people, especially higher income buyers, are often better served by keeping at least some of their money working in other places rather than tying it all up in a house. But there is no one answer that fits everyone. This chapter is about giving you a clear, balanced way to think through the tradeoffs. Please note: As always, this is not tax, legal, or investment advice. You will want to talk with your tax professional and financial advisor before making any final decisions.