[kat82]

Mortgages have helped many families buy houses without paying all the money at once. But with rising interest rates, some people fear the debt becomes too heavy. Do you think mortgages are still the best way to own property?

[Fergal]

My personal opinion is that debt is best avoided when possible. However, for most of us, getting a mortgage is the only option for buying a home. We don't really have a choice if we want to own our own home. Hopefully, the value of the property we buy increases over time and we can control our finances to pay off the mortgage without incurring any additional debt.

[nela13]

I had a mortgage on my house, but we paid it off and now we're debt-free. The loan was crucial for us to buy our house.

Next year, our son will be leaving for university, and we're thinking about buying an apartment in the city he'll be moving to. We'll be using a mortgage again at that time.

[germainebull]

Your question touches on a very important topic for many homeowners. Mortgages have been a major way for many families to achieve their dream of owning a home without paying it all out at once. However, as you mentioned, rising interest rates can present significant challenges.

The question of whether mortgages are still the best way to own a home depends on a person's personal circumstances, the current market, and their financial goals. There is no simple "yes" or "no" answer.

[darrensurrey]

For most it's the only way and it's better to own a home over your lifetime than to pay out in rent.

Of course, what really beats mortgages is generational wealth. So either stay in your family mansion or let your dad buy you a house outright.

As I say, for most...

[kat82]

Mortgages looks to be the best option when it comes to owning a home. Since you are allowed to pay in bits, it becomes easy to become a landlord.

[Padmavati753]

While rising interest rates are a concern, mortgages still offer accessibility and benefits that make homeownership possible for many. It's essential to weigh the pros and cons based on individual circumstances.

[RicoLindsey]

Something that helped me make faster decisions was getting clear info upfront, especially when looking at short-term financing for real estate. I ended up using https://youland.com/products/bridge-loans because it gave me the flexibility to move on a new place without waiting for my old one to sell. It’s way less stressful when you’re not rushed or stuck trying to figure out where the next chunk of cash is coming from.