Home › Forums › Financial Markets/Economics › Should I pay off my house?
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matt.
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June 20, 2011 at 7:35 PM #706260June 20, 2011 at 8:42 PM #705063
scaredyclassic
Participantif I had $7,000,000, I’d pay of the home, as i’d be happy to get the quivalent of a 4.75% return on a small portion of my monies. But if it was my last half a million, no way i’d pay off the house.
June 20, 2011 at 8:42 PM #705160Participantif I had $7,000,000, I’d pay of the home, as i’d be happy to get the quivalent of a 4.75% return on a small portion of my monies. But if it was my last half a million, no way i’d pay off the house.
June 20, 2011 at 8:42 PM #705755Participantif I had $7,000,000, I’d pay of the home, as i’d be happy to get the quivalent of a 4.75% return on a small portion of my monies. But if it was my last half a million, no way i’d pay off the house.
June 20, 2011 at 8:42 PM #705906Participantif I had $7,000,000, I’d pay of the home, as i’d be happy to get the quivalent of a 4.75% return on a small portion of my monies. But if it was my last half a million, no way i’d pay off the house.
June 20, 2011 at 8:42 PM #706270Participantif I had $7,000,000, I’d pay of the home, as i’d be happy to get the quivalent of a 4.75% return on a small portion of my monies. But if it was my last half a million, no way i’d pay off the house.
June 21, 2011 at 12:16 AM #705093Dougie944
ParticipantI love having my house paid off. You will be able to save $2500/mth in not having a mortgage, plus gain about $2500/$3000 month in rent while you are not there. That is $60K/yr you will be able to save, plus whatever else you save with the higher paying job you took. You will still be able to deduct expenses, taxes, and depreciation against your rental income.
In the early 90s, the Japanese probably thought their interest rates would rise also. They’re still waiting. We are in a deflationary cycle as credit contracts around the world.
Take the security and move on. I still have money in a savings account that I am looking to invest. It is, in my opinion, a difficult and frustrating time in history to invest money and be sure you are doing the right thing. If you need that money in the future, you can always mortgage the house again. It isn’t as if you have thrown it in a trash can. With $400k down, you have already assumed all the downside risk if prices keep falling.
June 21, 2011 at 12:16 AM #705190ParticipantI love having my house paid off. You will be able to save $2500/mth in not having a mortgage, plus gain about $2500/$3000 month in rent while you are not there. That is $60K/yr you will be able to save, plus whatever else you save with the higher paying job you took. You will still be able to deduct expenses, taxes, and depreciation against your rental income.
In the early 90s, the Japanese probably thought their interest rates would rise also. They’re still waiting. We are in a deflationary cycle as credit contracts around the world.
Take the security and move on. I still have money in a savings account that I am looking to invest. It is, in my opinion, a difficult and frustrating time in history to invest money and be sure you are doing the right thing. If you need that money in the future, you can always mortgage the house again. It isn’t as if you have thrown it in a trash can. With $400k down, you have already assumed all the downside risk if prices keep falling.
June 21, 2011 at 12:16 AM #705785ParticipantI love having my house paid off. You will be able to save $2500/mth in not having a mortgage, plus gain about $2500/$3000 month in rent while you are not there. That is $60K/yr you will be able to save, plus whatever else you save with the higher paying job you took. You will still be able to deduct expenses, taxes, and depreciation against your rental income.
In the early 90s, the Japanese probably thought their interest rates would rise also. They’re still waiting. We are in a deflationary cycle as credit contracts around the world.
Take the security and move on. I still have money in a savings account that I am looking to invest. It is, in my opinion, a difficult and frustrating time in history to invest money and be sure you are doing the right thing. If you need that money in the future, you can always mortgage the house again. It isn’t as if you have thrown it in a trash can. With $400k down, you have already assumed all the downside risk if prices keep falling.
June 21, 2011 at 12:16 AM #705936ParticipantI love having my house paid off. You will be able to save $2500/mth in not having a mortgage, plus gain about $2500/$3000 month in rent while you are not there. That is $60K/yr you will be able to save, plus whatever else you save with the higher paying job you took. You will still be able to deduct expenses, taxes, and depreciation against your rental income.
In the early 90s, the Japanese probably thought their interest rates would rise also. They’re still waiting. We are in a deflationary cycle as credit contracts around the world.
Take the security and move on. I still have money in a savings account that I am looking to invest. It is, in my opinion, a difficult and frustrating time in history to invest money and be sure you are doing the right thing. If you need that money in the future, you can always mortgage the house again. It isn’t as if you have thrown it in a trash can. With $400k down, you have already assumed all the downside risk if prices keep falling.
June 21, 2011 at 12:16 AM #706300ParticipantI love having my house paid off. You will be able to save $2500/mth in not having a mortgage, plus gain about $2500/$3000 month in rent while you are not there. That is $60K/yr you will be able to save, plus whatever else you save with the higher paying job you took. You will still be able to deduct expenses, taxes, and depreciation against your rental income.
In the early 90s, the Japanese probably thought their interest rates would rise also. They’re still waiting. We are in a deflationary cycle as credit contracts around the world.
Take the security and move on. I still have money in a savings account that I am looking to invest. It is, in my opinion, a difficult and frustrating time in history to invest money and be sure you are doing the right thing. If you need that money in the future, you can always mortgage the house again. It isn’t as if you have thrown it in a trash can. With $400k down, you have already assumed all the downside risk if prices keep falling.
June 21, 2011 at 12:46 AM #705103sdrealtor
ParticipantEven better imagine having a 4% mortgage and 15% CD’s. That is how my very conservative parents made the majority of their fortune.
June 21, 2011 at 12:46 AM #705200ParticipantEven better imagine having a 4% mortgage and 15% CD’s. That is how my very conservative parents made the majority of their fortune.
June 21, 2011 at 12:46 AM #705795ParticipantEven better imagine having a 4% mortgage and 15% CD’s. That is how my very conservative parents made the majority of their fortune.
June 21, 2011 at 12:46 AM #705946ParticipantEven better imagine having a 4% mortgage and 15% CD’s. That is how my very conservative parents made the majority of their fortune.
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