What are the benefits of paying cash for our home? |
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Answer:
If you have the means to pay cash for your home, When you own your home outright, you don't have to worry about mortgage payments, interest rates, and many of the closing costs associated with getting a mortgage. You will still be responsible for your homeowners insurance and property taxes on the property. Often times, if you have enough cash to pay for a home you may want to consider investing that money and earning a higher interest rate on the investment than what you would pay in mortgage interest rates. This leaves you with a paid off home plus you still have the cash. Trackback(0)
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