Why Cash Makes More Sense When Buying and Selling Your House
Why cash makes sense
The great American dream is owning your own home, but this dream is not always an easy accomplishment. Not only do you have to find that perfect dream home, but you also have to somehow come up with the money for it. You really only have two options when it comes to funding your dream home. You can get a loan or you can pay with cash. Why cash makes sense? Each payment method is very different from each other. Here are the major differences in paying cash and financing your dream home.
Cash Is Cheaper
Being able to pay cash for your dream home will open up quite a few doors that introduce some serious advantages; one of which is lower costs. The first and most obvious place where savings show up is the lack of interest. When you finance a home you wind up paying much more over the life of the loan. The higher the interest rate, the more you wind up paying. Paying cash also gives you the huge advantage of avoiding closing costs like origination fees and appraisal fees.
Cash Is More Appealing to the Seller
When a seller puts their house on the market, they almost always want a quick sale. Dealing with a buyer who has to pay for a home with a loan can really slow the whole process down. Home loans can take upwards of 30 days to get an approval and the approval still isn’t guaranteed. Paying cash for a house avoids all of these problems and sellers know this.
Selling Your Home for Cash
When it comes time to put yourself in the position of selling your dream home, you will find that selling your home for cash also provides you with plenty of great advantages. You can completely bypass the real estate agent. You won’t need to wait around for a seller to fall in love with your home and you will be able to sell your home in around 48 hours. It usually takes a real estate agent longer than that to put your home on the market!
Cash will always be the better option when it comes time to buy or sell your dream home. For more info on why cash makes sense feel free to contact us!