2:57:47it's fine if you take a mortgage for a tangible asset
2:57:48:_wah: I wouldn't, but that's because I like to save money
2:57:49depends if you have existing loans
2:57:49most people don't pay off the entire house. that's what mortgages are fo
2:57:52im not sure if youtube chat is the people to ask for that
2:57:52like with a mortage? double is fine
2:57:54double of my saving is still 0
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2:57:54already paid off the house this year
2:57:57So long as my income is stable
2:57:57Yeah, 20% down payment is common actually
2:57:57I mean, yes. That's a mortgage
2:58:01tangible assets are investment in yourself so that is a good form of debt
2:58:01can said property triple it's value over time?
2:58:02i bought property that was 10x my savings so...
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2:58:03double your net worth or double what you have for the property? A down payment of 30% is fine
2:58:04it is ok, especially since it will be yours and grand
2:58:04If I had some solid income to cover mortgage/loan interest yeah.
2:58:05that's a very good down payment
2:58:06depends how much of a down payment you can put down and what mortgage you get
2:58:06I'm set to retire if I play it safe, so it's different for me but I wouldn't take the risk. House fires, etc