Quote:
Originally Posted by NobodyHere
I would actually be paying cash for the house. So no mortgage and I'm told lower closing costs since there's no lender.
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Based on the above, No is my answer.
Just a few stream of conscious thoughts.
"Why pay rent"...renters dont pay property tax, structure insurance, cost of home repairs, etc etc etc
Roomate...if not of the opposite sex and include benefits that would be a hard no for me. YMMV.
The ideal scenario, in my opinion, is a duplex. Where the rent you get for the other side pays a 15 year note on the whole property. lots of benefits here...I can expand if interested.
Paying cash is mathematically a bad move. Unless there is considerable emotional value its the wrong choice, imho. Interest rates are sub 4%, then you get to deduct mortgage interest making the effective rate somewhere closer to 3% depending on your income level...thats before you figure any time return value, or liquidity benefit on that cash.