Quote:
Originally Posted by Dadhawk
At the end of the day though, taking out a $150K loan and keeping $150K in the bank is the same as spending the money on the house from a balance sheet prospective. You already spent the money, you just are pretending you didn't.
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nerver said you should keep the 150k in a bank account (has if anybody get that kind of money one shot, and not progressively) .. but you could buy a house with 10k, and you will have the same payment has if you were renting... wich you would have done to get your 150k$ over years....
and if you have 150k cash, dont waist it all on a 2.19% interest mortgagee... invest at least a part of it!
maybe our point of view is a bit different because we're not in the same country, and we don't have the same economic reality or stability! but still, if you wait to have all the money to pay everything cash, in quebec, you will have your first house at the age of 55...