Mortgage Free Mortgage vs Small [fortunate position] [financial implications]

Q: Hi all,

I am in the of having some money to sell my house. Should I purchase a flat and have no mortgage or buying a home and have a small mortgage? I know it depends on what I want to live in, but I have questions about the .

I was once, years ago, advised by a financial advisor that it is better for a mortgage, you need a loan, credit, etc.

Is this still the case?


A:In the event of a correction in prices or even crash, flats will suffer most because of oversupply.

Historically, houses have been a better hedge against such events and also tend to recover faster during an upturn.

As far as getting further loans, provided you've got a good credit rating, I don't think having or not having a mortgage makes that much difference.
But I may be wrong.


Related posts

tags: ,
posted in mortgage by admin

Follow comments via the RSS Feed | Leave a comment | Trackback URL

Leave Your Comment

click to changeSecurity Code

 
Powered by Second Mortgage.