Should you take out a mortgage if you can buy in cash?

[Ryan]

I’d keep a cushion in cash but hey would you pay 3% in a mortgage and get next to nothing for the money on deposit.

 

[Bronte]

I don't buy this argument of 'investing in property'. Very few people will ever realise the value of that investment by selling their home in future.

We sold our last home at a great profit to invest in a more expensive home. We would not have been able to afford it if we had not made the first home purchase (it's actually not the first but I'm ignoring Ireland). I disagree with the statement 'investing in propety' is a bad idea.

 

[RedOnion]

I disagree with the statement 'investing in propety' is a bad idea.

If you reread the context, and my full post, I never said it was a bad idea. The previous poster recommended buying an even more expensive house than was being discussed.

Particularly my opinion: "If you can buy your 'forever home' for 300k, IMHO spending 450-500 just doesn't make sense. "

 

[NoRegretsCoyote]

Particularly my opinion: "If you can buy your 'forever home' for 300k, IMHO spending 450-500 just doesn't make sense. "

Agree. Ireland has almost the lowest overcrowding rate in Europe, mainly due to empty nesters never trading down. See figure 2 [broken link removed].