After paying off a mortgage you can have more money
By maximax8
@maximax8 (31042)
United Kingdom
December 6, 2018 12:22pm CST
A year after paying off my mortgage in June 2017 I made plans to have the rooms in my home re-decorated. In my living room I have one wall of beach hut wallpaper. The other walls are painted in sea blue. My daughter has woodland wallpaper and my son has palm leaves with soft toy wild animals. I went for a similar wallpaper in my kitchen. I went on a very complicated trip in February 2018 with my two children and in April 2019 we have another one planned. I bought some new furniture and a new American fridge freezer.
Do you think you could pay off your mortgage?
If you rent a home then is it affordable?
11 people like this
12 responses
@lovebuglena (52224)
• Staten Island, New York
6 Dec 18
I live in a house but I am renting it from my parents so no mortgage to worry about. My parents paid off the mortgage on this house years ago, so now less to worry about when it comes to bills. Though there is still that annoying property tax to pay but it's every quarter rather than every month. Paying off the mortgage is great but that means losing a lot of your savings. I am not sure I would be okay with doing that if I owned a home, unless I had so much savings that even after paying off the mortgage I'd have a lot left over.
2 people like this
@maximax8 (31042)
• United Kingdom
6 Dec 18
Renting a house from your parents is perfect Lena. It is amazing that your parents paid off the mortgage for it years ago. You are in a good position to easy handle your household bills. Property taxi every quarter must be expensive. Thankfully it isn't a monthly payment. I was low on money after paying off my mortgage. However I built up new savings with less bills to pay.
@lovebuglena (52224)
• Staten Island, New York
6 Dec 18
@maximax8 Property tax is in the $900 range every quarter. Not cheap by any means.
1 person likes this
@maximax8 (31042)
• United Kingdom
8 Dec 18
@lovebuglena I have a friend that has two adult sons that live in the USA. Yes, your property tax sounds expensive. I totally agree is it not cheap. In England we pay council tax. Single adults get a 25% discount.
@Porcospino (31365)
• Denmark
7 Dec 18
It is great you were able to pay off your mortgage. I don't think that we will be able to pay off our mortgage. We have talked about it, but I don't think that it is realistic. We have lived here for 3 years and we plan on staying here for several years, but when we get older we want to sell the house and rent an apartment.
1 person likes this
@maximax8 (31042)
• United Kingdom
8 Dec 18
I went to a money course held by a charity and the lady said when she changed her mortgage it was £40 cheaper per month so she did that as a small overpayment. It is an excellent idea to downside to an apartment when you and your husband are older.
1 person likes this
@maximax8 (31042)
• United Kingdom
8 Dec 18
@Porcospino The money course was excellent. We got to view a picture of a sandy beach on a hot day asked to say to the group which person was like us. I said the lady reading a newspaper because I wanted to get more knowledge. My garden is quite large and not all of it is easy to do anything with. That is because there was an old broken greenhouse I got removed. By it is a weed called horse tail which is impossible to get rid of. On the other side I have a lovely border of plants and grass.
1 person likes this
@Porcospino (31365)
• Denmark
8 Dec 18
@maximax8 A money course sounds like a good idea. Yes, we want to find an apartment when we get older. We like the house where we live now, but the garden is very large and when we get older we want to live in a place that is easier to manage.
1 person likes this
@maximax8 (31042)
• United Kingdom
8 Dec 18
It is lovely that you are happy and settled in your house that you rent. Living in a pleasant locality can cost more and it sounds like it is worth it for you. I like that I live a twenty minute walk from a train station. I have a long drive way. My car is too tall to fit in my garage.
1 person likes this
@KOLAMsegaran1 (4137)
• Bekasi, Indonesia
6 Dec 18
I never thought about a mortgage, because I still live in my parents' house.
1 person likes this
@maximax8 (31042)
• United Kingdom
8 Dec 18
@KOLAMsegaran1 I live in England and I travelled to Indonesia in 1994.
1 person likes this
@KOLAMsegaran1 (4137)
• Bekasi, Indonesia
8 Dec 18
@maximax8 Oh yeah, that looks really good, do you live in Indonesia
1 person likes this
@1hopefulman (45111)
• Canada
6 Dec 18
I did have a house once but got rid of it as it seemed a good thing to do at the time. I live in a small but suitable apartment and am able to afford it without any problem at this time. I'm pretty happy with the way things are! 
1 person likes this
@1hopefulman (45111)
• Canada
9 Dec 18
@maximax8 Yes, I am renting. It's working for me but it may not be for others.
1 person likes this
@BloggerDi (3121)
• United States
6 Dec 18
How wonderful for you to have your home paid off! Your re-decorating sounds interesting and beautiful too.
We we will be paying our mortgage for several more years. The payments are reasonable for us though.
1 person likes this
@maximax8 (31042)
• United Kingdom
8 Dec 18
It is wonderful that your mortgage payments are affordable for you. Mortgages tightened up while I was paying off my mortgage. The advantage of my mortgage deal was I was able to pay up to £500 a month more than my direct debit free of fees. The disadvantage was I had a 5% fee each time I went over that restriction.
1 person likes this
