- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: When has paying off a house ever been a decision someone regretted?
Posted on 4/6/25 at 3:36 pm to UptownJoeBrown
Posted on 4/6/25 at 3:36 pm to UptownJoeBrown
For those in the "peace of mind " camp, how is having cash readily accessible in the bank (earning more interest by the way) less peace of mind than having the $ locked up in home equity that you have to pay a bank to access (if they will even approve you at the time). In event of a worst case scenario or a great investment opportunity having free access to your $ is the best scenario.
Max peace of mind = $ saved to deploy needed but dont pay off mortgage early
Max peace of mind = $ saved to deploy needed but dont pay off mortgage early
0
Posted on 4/6/25 at 6:57 pm to Thecoz
quote:I honestly have no idea what point you are trying to make here. Paying it off early meant - by definition - you had LESS to use to pay for college tuitions for your kids. What am I missing?
Fwiw
when I paid my house off in 2000 my mortgage rate was 7.5… was thrilled since it was down from the mid to low teens we had been paying.. if I would have put it in the market early 2000 the sp index was around 1500
You know what the sp index was early 2013… around 1500
So worked out for me to pay off and pay college tuitions for my kids and have peace of mind..
Also, nobody is giving generic advice to just "put it in the market".
Your story is basically that your timing coincided with the great financial crisis. And if anything, seems like you would want MORE cash around during a financial crisis than less.
Posted on 4/6/25 at 6:59 pm to Motownsix
quote:
You can’t put a price tag on the peace of mind that comes with not having one bill automatically deducted from your bank account once a month.
Yes, you quite literally can put a price tag on it.
The decision is whether or not that price is worth it.
Posted on 4/6/25 at 7:12 pm to Will Cover
If economy is going to shite the bed this is your last change to buy treasuries and have arbitrage
Do you need help figuring out difference in rates? Bc bottom line piece of mind of having it paid off vs interest income is a personal decision
Do you need help figuring out difference in rates? Bc bottom line piece of mind of having it paid off vs interest income is a personal decision
Posted on 4/6/25 at 7:54 pm to TDTOM
quote:
Not everything has to make financial sense. If it makes your quality of life better, it is worth considering.
Bingo we have a winner.
Posted on 4/6/25 at 7:56 pm to Will Cover
quote:
Owning my own house outright minus annual property taxes
- Peace of mind
- Sense of security knowing that I will also have a house to call my own if there are uncertain economic times ahead (nonpolitical)
- Frees up monthly cash
- No longer paying interest, although it's "only" at 2.5 % with about 12.5 years left out of a 15 year mortgage
This right there. For me it was peace of mind. Bro do it and do it today. I did it 15 years ago and never looked back
Posted on 4/6/25 at 8:26 pm to Double Oh
Paid mine off earlier this year. Was in year 8 out of 30.
Almost everyone I consulted said don’t do it, but every month I don’t have that payment feels great and reminds me that I’m completely debt free.
No regrets.
Almost everyone I consulted said don’t do it, but every month I don’t have that payment feels great and reminds me that I’m completely debt free.
No regrets.
Posted on 4/6/25 at 8:32 pm to Will Cover
paid off my main residence 13 years ago. was not worth it to refi. zero regrets. actually allowed me to do all the investing i have done.
Page 3 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News