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Thank you for the great input. Tax implications are important, financial security is the bigger concern. After closing on the purchase of the new house, we should still have about $90K remaining from the sale of the SoCal house. The deeper question is that if I pay cash for the house, will I...

I've sold my house in southern California and have about $470,000 in cash. I'm planning on buying a house back east for about $360,000. Should I pay outright and have no mortgage or finance a portion? Long time lurker, first time poster. Thanks in advance.