Why finance a mortgage if you can pay cash?
There are benefits to both choices the big question is what is the better return on investment.
Making the decision requires taking a hard look at your finances.
Is your financial house in order? Do you have enough in savings and are your retirement funds healthy?
If so, this may be the time to make that extra money you’ve saved work for you. But should you invest 100 percent cash into real estate or 20 percent down and take advantage of the low rates 3.5 percent?
Investopedia considers this very question.
Regardless of how you choose to purchase your vacation home, it’s a great time to invest in real estate. Recent figures from the National Association of Realtors show an upward trend in the number of second homes purchased—many for investment purposes. This too is an option in the Sunday River area, especially with week/weekend rentals.
Getting ready to purchase any home takes preparation, but with rates this historically low, this is an opportunity to make your money work for you.