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Kiplinger
Kiplinger
Business
Evan T. Beach, CFP®, AWMA®

Should You Pay Cash When You Downsize? Here Are Three Scenarios

A man holds a stack of cash with a house in the background.

I was an early COVID mover. I bought a newly renovated, but quite old, home in June 2020. About a month after moving in, we had water in the basement. The thing about water in the basement is that it tends to happen again and again until you fix the problem. After many trials and tribulations, we fixed the problem. In December of 2020, I got home one day to find water coming from the ceiling right inside the front door. I called an emergency plumber. After inspecting all of the plumbing, he told us that we had a cracked pipe … and that we should probably replace the faucets in the kitchen for efficiency purposes. That last piece of advice I could have done without. Just fix the pipe!

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