To Mortgage Or Not To Mortgage

I don't know your whole situation: what your income is and how secure your job, what other monthly payments you might have -- car? student loans? The most efficient place to invest money is in clearing out high-interest credit cards, though somehow you sound as if you don’t carry balances anyway.Beyond that, even at your age, it’s important to max out retirement savings.And you wouldn’t want your last penny tied up in your home, but evidently that wouldn’t be the case.

After all that, of course there's nothing wrong with buying for all cash.It makes you an attractive buyer and might be worth something in negotiating purchase price, because a seller won't have any suspense about whether you can get a mortgage loan.

Perhaps a financial advisor would say you're too young to tie your money up long-term for perhaps 6 or 6.5 percent, which is what it would earn if you invested it in your home.But at any rate, there's nothing sacred about having a mortgage.