I digress from decoding the stripes on a snake to bring to your attention a MUST READ article for all frugalistas by Ann Patchett. Titled "Going for Broke to Stay out of Debt" it appeared in the 11/08/2012 Wall Street Journal online. It's her account of buying her first house. But I'll let her tell you the story.
http://online.wsj.com/article/SB10001424052970204712904578094743970376114.html#articleTabs%3Darticle
This article so closely mirrored my own homebuying experience I think Ann was whispering in my ear when I was condo shopping a few years ago. I knew from the outset I was going to pay cash. The idea of a mortgage never entered my mind. My cash was earning zip in the investment market and was put to much better use putting a paid-for roof over my head. Like Ann, I don't believe in d-e-b-t (it's a four letter word). I remember a renter acquaintence (who constantly cries poor mouth while earning much more than I) saying about my cash condo purchase, "You were so lucky." I looked at her salon done hair, her salon manicured nails, and her daily take out lunch, and replied, "Luck had nothing to do with it. Have you ever seen me go out to lunch?"
Penny Pincher
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