Hi Angie! I'm concerned that you are considering utilizng your cash to pay for the new home. Is there a particular reason why you wish to utilize cash and not obtain a mortgage? I think this is a very important topic that needs to be looked at closely. With interest rates where they are, you are able to borrower money for next to nothing. There has never been a time in our lives, where money has come this cheap and it will probably be the last time we see this.
Additionally, our economy is getting stronger and our investments are starting to improve once again, so if you keep at least half of your cash and place it in an investment vehicle, you are more likely to have more income and assets when you really need it and you will never need to borrow money at high interest rates because you utilized the low rates for low cost when you had the chance.
I would be more than happy to work with you via phone, e-mail or in person and can illustrate the benefits of obtaining a mortgage versus paying cash for a property. Please click "reply" on my post or click on my name to obtain my phone number or message me directly. Thanks and good luck to you if I don't hear from you. Melissa Holt 253-552-2072 , Senior Loan Officer, Homestreet Bank in Tacoma.