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    lynettewilliams@irealtypro.com

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Should I get a mortgage even if I don’t need one?

Many of my clients (especially Baby Boomers who are downsizing or relocating) ask me if they should pay cash for their next house or finance it with a new loan.  While the idea of owning a home free-and-clear is certainly appealing, I always present them with a series of questions to help them clarify the big picture.  Perhaps you or someone you know may benefit from these as well:

How much will you be left with after an all-cash purchase?  Maintaining a safety net of three to six months’ worth of living expenses can be a real comfort after you’ve done well on the sale of your home.  How comfortable will you be if an all-cash purchase brings you near zero?

Are you retiring soon?  This goes to two issues:  First, whether or not the absence of a mortgage will significantly improve your monthly position, keeping in mind you’ll still need to make insurance, tax payments, and maintenance.  Second, if you’re thinking about applying for a loan.  It can be a challenge to qualify for a loan after you’ve retired, so if you think you’ll need a loan, it may be better to get it in advance.

What’s your tax and income situation look like?  For some people, the mortgage interest deduction on income taxes has a significant impact on their annual tax bill and overall cash flow picture.  It’s always a good idea to consult with a financial professional before you “write off” the write off.

Might you need to help someone out in the near future?  Sometimes having the liquidity to help family members or close friends in need is important.  Are you planning to help someone else with a down payment on a home?  Is it likely you’ll have to help a close friend or relative through a tough time?  Having cash on hand can be a comfort.

How important is “free and clear” to your mind?  For some, there’s nothing that compares to the idea of owning a home free and clear.  Sometimes the feeling of “no debt” simply can’t be overpowered by tax or liquidity benefits.  It’s important to be honest with yourself, and if you’ve always dreamed of dodging a house payment, it could be the right emotional move.

For all of these reasons and more you’ll want to choose wisely before you go in for an all-cash purchase of your next home. Naturally, if you need any help selling your current home or looking for the next one, I’d be happy to help:

Lynette Williams
626-788-9288
lynettewilliams@irealtypro.com

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Posted in: Blog, Home Buying Tagged: all cash purchase, Home mortgage

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My Client Ratings

  • Satisfaction:98%
  • Recommendation:100%
  • Performance:100%

Lynette Williams has been rated by 11 clients.

What Our Clients Say About Us

  • “Our friends Ray and Whitney had worked with Lynette previously and were very happy. We were moving from TN to CA. We took their recommendation and were very glad we did. Lynette was great and really worked hard to get us the home we needed for our family.”

    Read More from
    KJ, Canyon Country

  • “Our friends Ray and Whitney had worked with Lynette previously and were very happy. We were moving from TN to CA. We took their recommendation and were very glad we did. Lynette was great and really worked hard to get us the home we needed for our family.”

    KJ, Canyon Country
    December 8, 2020

    Rating & Testimonial data verified by RealSatisfied

  • “One of the best agents I've ever had the pleasure of working with! Lynette has bought and sold 3 properties for us, and is ALWAYS our first call. She's not only a tremndous real estate agent, but now part of the family.”

    Read More from
    Brandon Schott, Franklin TN

  • “One of the best agents I've ever had the pleasure of working with! Lynette has bought and sold 3 properties for us, and is ALWAYS our first call. She's not only a tremndous real estate agent, but now part of the family.”

    Brandon Schott, Franklin TN
    December 8, 2020

    Rating & Testimonial data verified by RealSatisfied

  • “Lynette helped us in the purchase of our home and her expertise was phenomenal so we had to have her in the sell of our home, six years later. No question about it. Lynette takes selling your property to another level. When she does something, every detail is reviewed and personalities of all parties are taken into consideration. Selling your home is not easy but Lynette made the entire process manageable. Lynette knew our community inside and out. We cannot thank Lynette enough in helping us navigate the home selling process!”

    Read More from
    E. Calhoun, Claremont

  • “Lynette helped us in the purchase of our home and her expertise was phenomenal so we had to have her in the sell of our home, six years later. No question about it.

    Lynette takes selling your property to another level. When she does something, every detail is reviewed and personalities of all parties are taken into consideration.

    Selling your home is not easy but Lynette made the entire process manageable. Lynette knew our community inside and out. We cannot thank Lynette enough in helping us navigate the home selling process!”

    E. Calhoun, Claremont
    December 8, 2020

    Rating & Testimonial data verified by RealSatisfied

  • “From my first contact with Lynnette she was very helpful and explained the buying process in a clear and thorough manner which assisted me in my buying efforts and to make decisions that were best for me and my family. Working with Lynette soon felt like working with a friend or family member who I knew was looking out for my best interest. Lynette was awesome during the entire shoping and purchasing phase. She took the time to review and explain every document I was presented and required to sign and told me in advance what to expect. I've bought two other houses in the past and dealt with other brokers who were not nearly as knowledgeable or professional as Lynette. I recommend her services, and especially to knew buyers unfamiliar with the real estate buying and selling.”

    Read More from
    Charlotte Moore from Azuza, CA

  • “From my first contact with Lynnette she was very helpful and explained the buying process in a clear and thorough manner which assisted me in my buying efforts and to make decisions that were best for me and my family.

    Working with Lynette soon felt like working with a friend or family member who I knew was looking out for my best interest.

    Lynette was awesome during the entire shoping and purchasing phase. She took the time to review and explain every document I was presented and required to sign and told me in advance what to expect.

    I've bought two other houses in the past and dealt with other brokers who were not nearly as knowledgeable or professional as Lynette. I recommend her services, and especially to knew buyers unfamiliar with the real estate buying and selling.”

    Charlotte Moore from Azuza, CA
    December 8, 2020

    Rating & Testimonial data verified by RealSatisfied

  • “Lynette was very professional and respectful but was tough when she needed to be. She has great judgment and experience. Lynette was very professional and listened to what we had to say and always took our thoughts into consideration. She was so thoughful and insightful, she often brought up issues we had never considered. Lynette gave us some incredible guidance and was a great advocate when it came down to negotiating with the potential buyers. To be honest, I was quite impressed with her knowledge and expertise, and I am not easily impressed. She made the experience of selling our home a very positive one. I must say that after we sold our home, I feel that Lynette was more like a friend than a real estate broker. I have recommended Lynette to friends and family that are considering selling or buying a home. I cannot say enough about the value she brings.”

    Read More from
    David Garcia

  • “Lynette was very professional and respectful but was tough when she needed to be. She has great judgment and experience.

    Lynette was very professional and listened to what we had to say and always took our thoughts into consideration. She was so thoughful and insightful, she often brought up issues we had never considered. Lynette gave us some incredible guidance and was a great advocate when it came down to negotiating with the potential buyers. To be honest, I was quite impressed with her knowledge and expertise, and I am not easily impressed. She made the experience of selling our home a very positive one. I must say that after we sold our home, I feel that Lynette was more like a friend than a real estate broker.

    I have recommended Lynette to friends and family that are considering selling or buying a home. I cannot say enough about the value she brings.”

    David Garcia
    December 8, 2020

    Rating & Testimonial data verified by RealSatisfied

  • “When I decided to put this property on the market my main concern was finding a competent professional who would guide me through the process and reduce the stress involved when selling. I found the perfect realtor in Lynette Williams. She knew exactly how to market this property, where to focus her advertising, how to stage it properly for her target market, and she was a skillful negotiator when it came time to close the sale. She guided me through the whole process, always allowing me to make my own decisions, but also educating me about the potential consequences of the decisions I was making. I have sold 6 properties over my life - all under the guidence of realtors and this was, by far, my best experience. Lynette's understanding of real estate, the market, escrow, legal ramifications of disclosure, and negotiation are way above average. The other quality Lynette posseses is that she never makes you feel like it's about the money. She genuinely wants to make your life easier during a difficult time. She does this by keeping you engaged in the process, informed of the progress, and she get's the job done. I would highly recommend her to anyone looking to buy or sell property.”

    Read More from
    Beverly Nelson, Los Angeles, CA

  • “When I decided to put this property on the market my main concern was finding a competent professional who would guide me through the process and reduce the stress involved when selling. I found the perfect realtor in Lynette Williams. She knew exactly how to market this property, where to focus her advertising, how to stage it properly for her target market, and she was a skillful negotiator when it came time to close the sale. She guided me through the whole process, always allowing me to make my own decisions, but also educating me about the potential consequences of the decisions I was making. I have sold 6 properties over my life - all under the guidence of realtors and this was, by far, my best experience. Lynette's understanding of real estate, the market, escrow, legal ramifications of disclosure, and negotiation are way above average. The other quality Lynette posseses is that she never makes you feel like it's about the money. She genuinely wants to make your life easier during a difficult time. She does this by keeping you engaged in the process, informed of the progress, and she get's the job done. I would highly recommend her to anyone looking to buy or sell property.”

    Beverly Nelson, Los Angeles, CA
    December 8, 2020

    Rating & Testimonial data verified by RealSatisfied

  • “I've worked with a good many realtors in numerous states and Lynette is by far the most professional, courteous, and attentive agent I have ever worked with. My wife and I felt as if we were looked after like Lynette herself was looking for a home. Truly unique service. We will certainly refer her to any friends who are looking and will always use her as our realtor whenever making a purchase in the area. No doubt about it.”

    Read More from
    Ray and Whitney McAnally, Burbank, CA

  • “I've worked with a good many realtors in numerous states and Lynette is by far the most professional, courteous, and attentive agent I have ever worked with. My wife and I felt as if we were looked after like Lynette herself was looking for a home. Truly unique service. We will certainly refer her to any friends who are looking and will always use her as our realtor whenever making a purchase in the area. No doubt about it.”

    Ray and Whitney McAnally, Burbank, CA
    December 8, 2020

    Rating & Testimonial data verified by RealSatisfied

  • “Lynette's persistence and her sticking to this very complicated sale with three separate individuals with separate objectives got it closed.”

    Read More from
    James Griffin, Pasadena

  • “Lynette's persistence and her sticking to this very complicated sale with three separate individuals with separate objectives got it closed.”

    James Griffin, Pasadena
    December 8, 2020

    Rating & Testimonial data verified by RealSatisfied

Rating & Testimonial data verified by RealSatisfied

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626-788-9288
lynettewilliams@irealtypro.com
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