Should I buy a property outright?

RodWood78

I am fortunate enough to be in a position to buy a property without getting a mortgage.
Is buying a property outright the best option or are their other options which would help me make better use of my funds?
Thanks for any input.

Socajam

I put buy outright only if it would not affect my quality of life and I would not have to watch my spending
Also at this time, I would wait for a while to see how affected the market will be by the virus/economy.

blue_max_3

There is a strong argument to make use of the incredibly cheap credit. If the pound devalues due to the government printing money, a loan is going to become cheaper over time. Historically stocks and shares are the way to go, but I have my reservations about that too. I am in a similar position. I think I'll maximise my lending and keep my powder dry for now. My sense is that property is going to weaken in value over the coming months.

jimbog

blue_max_3 said:

Historically stocks and shares are the way to go, but I have my reservations about that too. I am in a similar position

One poster mentioned the other week that they put their funds into stocks and shares that lost 40% of its value in a week. On top of this they were unable to liquidate other money as the it had been frozen. So you are right about having reservations, I would buy a house outright

Comms69

House outright if it's not a temporary purchase. 

macman

Can you earn more from investing your money than you would be paying out for a mortgage? Unlikely, unless your risk profile for investment is very high.

kazwookie

Buy the house and enjoy life.

RelievedSheff

As others have said if this is going to be a long term home then I would certainly buy it outright. 

eidand

I would buy it outright, do the math and check how much you're paying on interest, even with low rates .... that will cure you of any desire to still get a mortgage.