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Should I have a Mortgage?

Dickie10 · 2022-01-22 21:08:53

Hi all, Im just wondering should i be paying into a mortgage or long term loan with my income. I dont have a mortgage or rent going out, I want to eventually expand my agri business and am hopefully on the way to being in a good place to do that. id like to buy about 30 acres but am waiting for market to cool and result of…

22-01-2022 10:08pm

#1

Dickie10

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Join Date: September 2013

Posts: 3709

Hi all, Im just wondering should i be paying into a mortgage or long term loan with my income. I dont have a mortgage or rent going out, I want to eventually expand my agri business and am hopefully on the way to being in a good place to do that. id like to buy about 30 acres but am waiting for market to cool and result of new CAP to come into play but would like to move within 6-8 years ideally. shoulld i move sooner is question. what cash in pocket would you need for 250k mortgage, or should i buy a handy apartment and be renting it out now or is it crazy time to buy? my gut says prices will cool down and come down within 4 years if i wait it out. any advice?

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