I am wanting to purchase a house. The amount I have in cash is $150k and the house price is $180k. What is the best way of bridging the gap with getting any debt?


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DDX Project Profile
DDX Project answered

The best way? Keep saving until you have more than the full value.

Besides that are you sure you want to spend ALL your cash on a house? Will you suffice if you lose your job the next day? Don't forget home insurance, electricity, water, etc on top of your usual expenses.

You're much safer to have a $800 in mortgage payments and 100k in savings. Rather than zero mortgage payments and zero in savings. That's just terrible planning. Catch my drift?

Think of real estate as a nest. You never put all your money in one nest.

Bikergirl Anonymous Profile

If you meant to say "without getting into debt" .. Then you either make an offer for what you can cover in cash or find a house that IS within your budget .. If you don't want to incur any debt .. Then it's really not that difficult to understand that you must stay within the confines of your budget

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