Is It Worth Waiting To Pay Cash For A House?

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[noisehonk]

I was adamant that we pay cash for a house but in 2020 my wife felt like we needed to buy (even though we didn’t have all the cash). Glad I had the flexibility to budge on that point— we got into a house we love in a perfect location at a decent price. Had it paid off in 18 months. Life is totally different without debt. Feeling blessed.

[AvecPoesie]

Started listening to Dave Ramsey in 2015 and just purchased my home 🏡 in CASH in November 2022.

[MrJumpingmaniac]

My wife and I bought a house in 2019. It has since appreciated by $70k. Sometimes appreciation happens faster than you can save.

[sasasavage]

I bought a house when interest rates were really low, and so far I do not regret it. My rent was constantly increasing and my mortgage is less than what I would have been paying in rent. I really dislike being in debt, but it would have taken me YEARS to save up enough to buy a house in cash, and who knows what home prices and interest rates will be by then. They may go down, but living in a house is also so much more comfortable, so I'm happy.

[Unicornslaughter]

Not sure Dave should have used the phrase “You’re killing it” right after dude said he was an anesthesiologist. Lol!

[PInkW]

I paid cash for my house.
But it’s 400sq ft. And $23k.
In the middle of nowhere.
So blessed

[MiseEnPlace]

Yes. I could have opted for a bigger better house with a small mortgage, but freedom was within reach. So, I decided to lower my budget to do a cash purchase and I couldn't be happier or more free. It is un-freaking-believable!

[Nikkisweeets]

Paid cash for my house before my 40th birthday that was always my goal. It just hits different to come home to a paid off house or to wake up on the first and not pay rent.

[truejoyjourney]

We just sent in our check to pay off our little house! Praise be unto God!!!! Thank you Jesus! You can do it too, one step at a time! Believe and Work on IT!

[DeBee-dcce]

I think he should buy the house now because it is nice to establish your children in a family home and school district.

[ManVsLag]

I think the main issue that may have been missed is that without at least 47% down, at current interest rates, he can’t buy the home if he takes out a 15 year at 25% take home pay using back of the napkin math. I think he got the 50% number because that would be what it takes to make the numbers work.

[drhoughton]

dont buy a 800 k house. buy a 400 k house... save up the next 10 years. then get a bigger house you want.

[Slay_Nation]

1.) Make a whole bunch of money
2.) Save 90% income for 5-8 yrs
3.) Buy house in cash in full

[nolegirlgod]

Buy now. The kids would move and be settled. Either way the house would be paid off in six years. I speak as a child moved around a lot. It's very painful to be uprooted. The sooner, the better if that's your main concern. ☕🙏

[fireant]

I paid cash for a house at 28 years old 100% debt free and feels great. I'm now saving up to pay cash for a rental house.

[MultiTlp]

they didn't account for the house they want to buy is most likely going to appreciate. I'd put that 20% down, and buy now and pay that sucker off ASAP. He's in a great place for sure.

[laurencesnashall]

Surely its better to buy an Appreciating asset, stop paying rent and rapidly pay off a mortgage that you can easily afford, give your family security of not having a landlord who might look to sell within those years.

[shumatsuopost]

Interesting topic, the speaker brings up valid points about the advantages and disadvantages of paying cash for a house. It's always important to weigh the pros and cons before making a big financial decision.

[weschancellor]

I was an Accountant before retiring and found that the people enjoying life the most have their Home paid for before retiring. Nuff Said.!!!!

[frankm]

That's assuming that the home of their dreams doesn't go up in price. Buy the house with 20% and then pay it off in 10 years or less.