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Thread: I just paid off my house

  1. #1
    Outdoor Guru Wasatch Rebel's Avatar
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    I just paid off my house

    Heck yeah! I'm psyched! The check is in the mail and I'll soon have a lot more money. Of course, my enthusiasm needs to be tempered because we have a lot of repairs that need to be done on the house, but now at least, we'll be able to start doing them, and start contributing more to retirement. I'm not trying to rub it in, I'm just thrilled to have that monkey off my back after almost 26 years.

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  6. #3
    Congrats!!!! It sure is nice to know that come hell or high water you'll always have that roof over your head. Now all you have to do is pump at least half of your former mortgage payment into a mutual fund every month. This is a BIG deal, good for you!!!

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    ephemeral excursionist blueeyes's Avatar
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  10. #5
    I empathise with your situation, Wasatch_Rebel, and congratulate you.
    I finished paying off my mortgage about 4 years ago...8 years early. I spent most of my spare cash doing it. It is like a breath of fresh air having that noose off one's neck (would you not agree?).

    Since then I have been able to spend the difference on travel to Utah a bit more often.

    Well done to you.

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  12. #6
    I was able to do it a few years ago and it's a terrific feeling.
    Quoting my best friend, Bob McNally, after a bad boating trip: "Nature scares me!"

    Utah photos: www.winpics.fototime.com

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  14. #7
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    Good job. Being debt free is a huge freedom.
    Utah is a very special and unique place. There is no where else like it on earth. Please take care of it and keep the remaining wild areas in pristine condition. The world will be a better place if you do.

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  16. #8
    Outdoor Guru Wasatch Rebel's Avatar
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    Quote Originally Posted by Rob L View Post
    I empathise with your situation, Wasatch_Rebel, and congratulate you.
    I finished paying off my mortgage about 4 years ago...8 years early. I spent most of my spare cash doing it. It is like a breath of fresh air having that noose off one's neck (would you not agree?).
    Yes I would. We actually had about $7000 in the credit union and owed about $6600 still on the house. Though it temporarily depleated our savings, I've had one pay day since then and we're already up over $1100, and it should build up fast without a house payment.

    And I want to thank all of you for your kind, congratulatory comments.

  17. #9
    Congrats! Did this a few years back myself. Just be sure that you set up a savings account for the taxes and insurance payments... It creeps up on you fast! Mine still runs nearly four bills a month!

  18. #10
    Z-Crew Deathcricket's Avatar
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    Nicely done! I'm proud of you, not many people achieve that or have the foresight to think long term like you do. Now take the equity out of your house and leverage it into a couple rental properties. Then sit back and watch other people pay your retirement.
    Your safety is not my responsibility.

  19. #11
    Quote Originally Posted by double moo View Post
    <snip> taxes and insurance payments...
    Shirley those are payable whether you have a mortgage or not?

  20. #12
    Don't call me Shirley....

  21. #13
    <---- This is me...green with envy. Congrats!

  22. #14
    Outdoor Guru Wasatch Rebel's Avatar
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    Quote Originally Posted by rockgremlin View Post
    <---- This is me...green with envy. Congrats!
    Thanks!

  23. #15
    Outdoor Guru Wasatch Rebel's Avatar
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    Quote Originally Posted by Deathcricket View Post
    Nicely done! I'm proud of you, not many people achieve that or have the foresight to think long term like you do. Now take the equity out of your house and leverage it into a couple rental properties. Then sit back and watch other people pay your retirement.
    I've actually thought about that, but I'm not sure I want to be a landlord.

  24. #16
    That is so cool. Way to be!
    "My heart shall cry out for Moab..." Isaiah 15:5

  25. #17
    Outdoor Guru Wasatch Rebel's Avatar
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    Quote Originally Posted by DiscGo View Post
    That is so cool. Way to be!
    Thanks. Isn't it funny though? We told someone at church that we had paid off our house and he said, "just remember, don't light any candles or any matches in your house, or anything like that." This guy's house had burned down 15-20 years ago when they almost had it paid off. So the very next day, our lawnmower stops working (yeah, if anyone knows a good and economical lawnmower repair guy, let me know!), and our car broke down. So that guy jinxed us.

  26. #18
    If I ever run for office I will try to do away with property tax for anyone who pays off their home so you actually really really do own it free and clear, free and clear of even the government.

    Congrats.
    Life is Good

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  28. #19
    Quote Originally Posted by Wasatch Rebel View Post
    Thanks. Isn't it funny though? We told someone at church that we had paid off our house and he said, "just remember, don't light any candles or any matches in your house, or anything like that." This guy's house had burned down 15-20 years ago when they almost had it paid off. So the very next day, our lawnmower stops working (yeah, if anyone knows a good and economical lawnmower repair guy, let me know!), and our car broke down. So that guy jinxed us.
    Had he not insured it after paying it off?

  29. #20
    paying off all the debt is free. congratulations. on the other hand, repairment is also a heavy debt to shoulder.

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