House motham cash lo konte advantages and disadvantages?

[hch]

Adv: No monthly payments, No PMI , you can negotiate a better deal in some cases

Dis: No tax advantage, Miss opportunity to get better returns else where

[captcha]

2 hours ago, Hitman said:

You don’t have to buy insurance. You can dodge the insanity of Florida house insurance 

Is FL house insurance really that bad? when compared to Atlanta or Charlotte?

[SwamyRaRa]

Ltt

[yemdoing]

12 hours ago, Hitman said:

Home Insurance- hurricane, flood , hazardous accident insurance etc. since you are buying with cash it’s up to you to carry or not. If you are on loan you are forced to carry 

ok, ayina home insurance is must have kada ? Hails, plumbing accidents,fire accidents, sewer backup, tornado ivi anni common kada . Konni states lo weather incidents takuva but insurance will be lower for those states. 

[chicagosubbu]

Put 50% and buy two home with same price, second house income will be paid to first home and keep few hundred in your pocket for maintenance.

[Variety_Pullayya]

10 minutes ago, chicagosubbu said:

Put 50% and buy two home with same price, second house income will be paid to first home and keep few hundred in your pocket for maintenance.

good one. you dont have to buy the rental property at equal price too.

 

[subramanyam_for_sale]

On 4/4/2023 at 11:41 PM, hch said:

Adv: No monthly payments, No PMI , you can negotiate a better deal in some cases

Dis: No tax advantage, Miss opportunity to get better returns else where

SALT deduction limit valla no tax advantage with primary house period, unless its used for a business and llc write off's are present

[Pavanonline]

On 4/4/2023 at 9:54 PM, chantigaduUS said:

++ peace of mind if only u is working. just having the feeling that your roof is taken care of , can give so much security in ur life. 

That's one way to look at it but putting everything into single property might not be so relieving.

[csrcrs]

Disadvantage. You don't get tax credit

[AreyOSamba]

On 4/4/2023 at 9:42 PM, Hitman said:

Home Insurance- hurricane, flood , hazardous accident insurance etc. since you are buying with cash it’s up to you to carry or not. If you are on loan you are forced to carry 

Insurance is to protect the property vayaa, regardless of who owns it. Since the lender can take the home, if payments aren't made, they want insurance to ensure they have the property protected against any hazardous incidents. That applies to you too if you buy the property with cash. Hurricane ki property damage aithey what is the point of owing the property without insurance?

[AreyOSamba]

1 hour ago, csrcrs said:

Disadvantage. You don't get tax credit

What tax credit is it?

[AreyOSamba]

2 hours ago, subramanyam_for_sale said:

SALT deduction limit valla no tax advantage with primary house period, unless its used for a business and llc write off's are present

With most of the households doesn't exceed the standard deduction limits, SALT deduction will anyways cannot be claimed

[subramanyam_for_sale]

24 minutes ago, AreyOSamba said:

With most of the households doesn't exceed the standard deduction limits, SALT deduction will anyways cannot be claimed

if SALT was not ceiled at 10k, CA lo every desi would be beyond standard deduction.

[AreyOSamba]

1 hour ago, subramanyam_for_sale said:

if SALT was not ceiled at 10k, CA lo every desi would be beyond standard deduction.

Thats the thing right. If we cannot Exceed the standard deduction, how can the SALT deduction be useful at all?
Do you itemize and use SALT deduction? if so can you give me an example?

 

[subramanyam_for_sale]

21 minutes ago, AreyOSamba said:

Thats the thing right. If we cannot Exceed the standard deduction, how can the SALT deduction be useful at all?
Do you itemize and use SALT deduction? if so can you give me an example?

 

nope, we cannot, someone said we lose tax advantage in bought in cash, I was saying its not true any longer, no more tax advantages at all period.