Mortgage rates are near record lows—but that doesn't mean you should use your retirement savings to buy a house\n

But is it a good idea to jump on these rates if you have to dip into your retirement savings to do so? Probably not. Major purchases like buying a house are about more than taking advantage of financial breaks, says, a certified financial planner and founder of Boston-based wealth management firm Beyond Your Hammock.

Low interest rates don't always add up to savings in your pocket. Over half of home offers tracked by Redfin in August were, which can mean that the overall cost of the home is higher. While the interest rate may be low, if you're paying a higher price overall to secure the home you want, it could end up costing you more in the long run.

"If not, it's probably not a good idea to raid your 401 in order to make that down payment," he says. That's because when you take money out of your retirement accounts, it doesn't "magically grow back," Roberge says. "It's money you've removed that you've worked so hard to save. By putting that money into real estate, it's a coin flip on whether that's going to be a good investment or not.

Plus, there are ongoing costs to owning real estate, such as property taxes and maintenance. Those costs can really add up, especially if you didn't build them into your budget.

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