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Whether buying a house outright is a good idea depends on your personal situation and your long-term investment objectives. There are pros and cons to buying a house outright. For instance, buying a house outright means that you will not need a mortgage, which means that you won’t need to worry about monthly repayments, and often the sale of the house can go through quickly as you will not need to apply for a mortgage.  

Similarly, with a mortgage, you cannot predict how the interest rates will go up and down over the years. If the interest rates suddenly rise, you will need to pay more in your monthly repayments which can be difficult to account for. If you do not have a mortgage, you do not need to worry about this. 

However, if you buy a house outright, it means that a lot of your equity will be tied up in a home. You cannot predict whether the price of the house will increase or decrease over time, but if it decreases, then it means that you lose money if you go to sell it. 

If you need emergency cash funds and they are all tied up in a property, then it means that you are not able to access them when needed. 


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