Paying cash for 2 houses

[fluzbizzef]

I will be coming into some significant money within 3 weeks. I've decided to purchase 2 pieces of property.One will be my primary residence and the other a mountain home. Both of them cost a little over 1M. I want to pay cash right out,don't want a mortgage.I will hire a home inspector and an appraiser before doing so. Is this the right thing to do? Are there any financial repercussions in doing so.

D

 

[baby_tooth]

Would me cheaper if you invest the money into a safe long annunity for the life of the mortage and borrowed against this.

You get tax relief on the mortage and the interest you are charged on the mortage would be less than what you could earn with smart investments.

get good advice, and for the amount suggested, maybe some of the more rebutable english firms as opposed to irish minnows.

 

[Vanilla]

for the amount suggested, maybe some of the more rebutable english firms as opposed to irish minnows

Er, why? Surely a good Irish adviser who is au fait with Irish tax structures would be far better than someone in another country?

 

[baby_tooth]

Er, why? Surely a good Irish adviser who is au fait with Irish tax structures would be far better than someone in another country?

there are alot more english firms that offer superior advice and have lower costs.
As is widely covered here and elsewhere, the irish investment firms offer terrible, and i really do mean terrible, overpriced services.

as well as the vested interests.

also, there is tax treaties in place with england, so tax not as big an issue on the earnings.

use tax advantages for your benefit, but don't let them be the deciding factor in chooisng an investment

 

[Eeek!!!!]

fluzbizzef is based in the US, so s/he'd probably be best talking to a firm familiar with US tax structures.

 

[baby_tooth]

fluzbizzef is based in the US, so s/he'd probably be best talking to a firm familiar with US tax structures.

ohh assumed ireland, didn't see a mention of country of residence.

Personally, I would stay as far away from property and poperty related companies in ire,gb and us.

would look to energy stocks, cos we are going to need more of this, and nice sums in certain depoist/gilts.

best thing is to get professional advice from experts who can go through your requirements, would not base future actions about partial advice received from here or elsewhere...this can help but is by no way definitive.