At your age, I was facing a similar situation. I had enough saved up from my business to pay cash for a custom home I had built in Diamond Bar. This was in 1988, and it cost me $435K. I was debating whether or not to pay all cash, which was mostly all my savings, or to finance a part of it. I decided to pay all cash, and I never looked back. The feeling of having no house payments at 30 years old was indescribable. I felt free. Really free. Six years later, the average holding period as SD Realtor says, I bought another home, again for cash, this time $1.275M. In late 2005, I sold that house for $2.0M and put the cash in the bank, as fast as I could! I am now renting. Get the point? I believe I was able to do this primarily due to all the interest I saved by not having a mortgage. I believe in cash. In God We Trust, all others should pay CASH!
