I HAVE THE MONEY...SHOULD I PAY CASH?   An all-cash purchase can be viewed as an investment. The investment is not the house, because you are buying the house, and will enjoy any appreciation in its value, whether you pay all cash or take out a mortgage. The investment in an all-cash transaction is the mortgage you avoid. It might better be called a "no-mortgage" investment. The return of the investment is the interest rate you would otherwise have paid on the mortgage but now avoid. This return can be compared to that of [...]