Buying a House With Cash: What to Know Before Skipping the Mortgage

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About a quarter of home buyers pay cash instead of getting mortgages these days. But is buying a house with cash the smart thing to do?
The answer depends on your goals. If you want to buy a house with cash to avoid paying mortgage interest, you should consider how much that money could grow if you invested it instead. If your goal is to beat other bidders for a home, buying with cash will attract the seller’s attention. You’ll still need to make a competitive offer, though.
Before you commit to buying a house with cash:
Identify what you hope to gain by making a cash purchase.
Don't assume that cash is better.
Consider how you might benefit by getting a mortgage instead.
Congratulate yourself for having a big bank balance!
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