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opportunity cost

Opportunity cost

LMI vs 20 per cent Deposit – What’s the Opportunity Cost?

When it comes to buying a house, you may find yourself in a position where you need to weigh up whether you should spend money on Lenders Mortgage Insurance (LMI) or whether you’re better off waiting until you have a 20 per cent deposit to put down. You also need to consider the opportunity cost of choosing one option over the other so you can make the best choice possible for your needs. What is opportunity cost and how does it work? According to Shopify, opportunity cost is an economic term that refers to the value of what you must … Read more

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