Buy a house that fits your needs, is the right size, in the right town, that has been well kept and tastefully updated (as in a 2000's or 2010's look to the kitchen and bathrooms) - pay for it with Cash and then update it as you want over the next 5-7 years;
or buy a house that is fantastic, high-end updates, everywhere, you won't have to touch a thing again for at least 15 years, also in a right town, but you need to take out 400K loan. |
Isn't it sad that a 2010's kitchen and bathroom is considered outdated already? We should build kitchens to last at least 25-30 years rather than for whatever the latest design whim. |
If the fantastic home is a developer flip, I'd avoid it. I don't trust flippers and there are no guarantees on any home. A home where people have been living means a home that they have had to deal with the issues. If it's well kept, that might be the better house than the house that appears to have all the bells and whistles. |
What is your age? |
49, we're about to be empty nesters |
What? That's easy -- I'll avoid the loan. |
You should never pay all cash depending on your interest rate. Option A But don’t let all that money sit not working for you and don’t spend it. |
cash. |
This isn't as fun as the "Would you rather..." game that I played at parties as a teenager. |
I honestly do understand why people are so fixated on outdated fixtures in a bathroom. Who cares? Who are you entertaining in there? |
Yes |
Option 1 ..cash |
#1 |