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Topic starter June 25, 2021 2:02 pm
Want to see the difference over time of either an all cash home purchase vs taking out a mortgage (to see which path ultimately benefits us the most as measured by net worth at the end of 15 yr term). My inclination would be to enter the home price in EXPENSES>PROPERTY table (S1) as the cost basis (far assets currently owned even though purchase has not happened yet). I would use the same number as the Current Market Value. There would be no loan amount, APR, etc. for the all cash purchase scenario. Then for scenario 2 (table S2), I'd add in the loan balance, duration of loan and purchase closing costs (%age).
Is this correct or am I off on anything?
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June 26, 2021 7:27 am
Yes, this is the correct way to model this for the comparison you're after.
Topic starter June 26, 2021 9:03 am
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