Some would love to pay as much as they can so their monthly fix income is as low as possible.
While others would take advantage of the low interest rate to reinvest. What would fit your personal money strategy better?
This might be an question you need to speak your finanical advisor or CPA. Keep that in mind once you reach 65 of age - you also get more discount on property tax.
JP and Associate
It might depend on your income and how much house you want to buy and how much monthly payment you want.
As Tom says if you can borrow it and low interest rates and you think there will be inflation or better returns in the stock market, then borrowing as much as you can makes sense economically.
If you want peace of mind or your income is limited in retirement you might want to pay cash for the next house to have no monthly payments or limit the payments as much as you can by borrowing less and putting more down.
NOT a realtor or lender.
Think about this:
Cheapest money you will ever borrow.
Likely make more on your money in the market than you will 'save' on interest.
(214) 763-4629 cell/text/nights/weekends(Really!!)
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Someone would have to look at you whole financial picture to give you the beat answer for you.
Chris Hutchinson Real Estate
The Michael Group
Congratulations on your retirement plans! There are many factors that go into making this decision including taking into account all your other assets to know what you should put away for your nest egg. Much depends on the location of the home you'll be buying as well.
Would be happy to sit down with you to help you determine the costs of selling your home, what you can expect to get for it and put that into the mix to decide how much to invest in the new home. Feel free to call or email me at your convenience. Sounds exciting!
Your Home Is Where My Heart Is!