Are you still on time to get a mortgage approved for closing date?
If you are considering to remodel or do some improvements on the property you are buying, it could be a good idea to get a mortgage and keep some savings. Also, I think it could a good idea to look for 10 or 15 years instead of 30 years. Your payments will be higher but if you want to pay it you have the money, if you have issues, you do your mortgage payment and the home is still yours.
If you are going to rent the other side, that could be the income to pay for the mortgage.
Go with 20% or more to avoid Mortgage insurance.
If I had excess money, I will just pay it cash and forget about monthly payments. It does not make sense to pay interest but you have to see the difference. A bank will pay interest on your deposit and you will pay interest on your mortgage.
Also, a mortgage will involve some closing costs which you have to see with a mortgage consultant. Such as credit report, appraisal, processing fee, for example.... more