Did I make a mistake buying a house with cash? Please read the description

So I was in a fortunate position with $760K in cash after cashing out on Bitcoin and Tesla stocks (760K is taxes already accounted for). I decided to buy a 1800sqf condo in SoCal for $560K. I reserved another $10K for escrow fees, title fees, minor fixes, and furniture. That leaves me with 190K left for emergency fees and the rest to put into a brokerage account investing into VTI. I am 38 years old, single with no debt and make 80K/year. I do no qualify for the historical low rates because My credit score is not good due to past bad decisions (long story). The best rate I could have got was around 4.125-4.25%. I really like this condo and the community it is in. It’s located in a convenient area where all the supermarkets and restaurants are at. The HOA is quite high at $390/month and only covers the water bill, gated community, pool and jacuzzi. Every month I have to pay $390(HOA)+$530(property taxes divided by 12). I don’t really trust the stock market right now and never really liked the feeling of being in debt. Did I make the right decision?

submitted by /u/royal_robert
[link] [comments]

So I was in a fortunate position with $760K in cash after cashing out on Bitcoin and Tesla stocks (760K is taxes already accounted for). I decided to buy a 1800sqf condo in SoCal for $560K. I reserved another $10K for escrow fees, title fees, minor fixes, and furniture. That leaves me with 190K left for emergency fees and the rest to put into a brokerage account investing into VTI. I am 38 years old, single with no debt and make 80K/year. I do no qualify for the historical low rates because My credit score is not good due to past bad decisions (long story). The best rate I could have got was around 4.125-4.25%. I really like this condo and the community it is in. It’s located in a convenient area where all the supermarkets and restaurants are at. The HOA is quite high at $390/month and only covers the water bill, gated community, pool and jacuzzi. Every month I have to pay $390(HOA)+$530(property taxes divided by 12). I don’t really trust the stock market right now and never really liked the feeling of being in debt. Did I make the right decision? submitted by /u/royal_robert [link] [comments]

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