re: How old were you when you finally paid off your house (i.e., owned it free and clear)?

Ypu never really own it. Just try skipping on the taxes a few years.

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I would actually say that putting a major lump sum of cash into paying down my mortgage was one of the worst decisions of my life financially.

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then you bought too much house or paid too much for it. When I paid mine off I owed about 100K. I had it, I used it, I’ve not had a note since then and it’s been ten years.

everyone is different but I would not have done it if I owed double that, for example

Ill be 137 when Mines paid off

OP, I have some bad news for you

My first house I paid off at 33. Then like an idiot I felt like I needed to upgrade. I paid that one off at 39. I don’t plan to upgrade anymore.

I've paid off several. My current house (forever home, a small farm) has a small <3% note on it. I could pay it off, but why? My paid off rental covers the cost of it monthly. I'm 62 and retired.

Built house for 800k, put another 250k into pool/poolhouse in 2020. Current value is 2.875M. I have 2.75% on 550k mortgage. What kind of fricking idiot would pay that off?

But congrats on no mortgage.

This coming March at 50, wife 45.

I will have my land and current house paid off in the next 5 years.

Somewhere in that timeframe I will be tearing down the house and building all over again on my land.

Haven't looked into how that works quite yet, if I have to have it completely paid off before I tear it down and build. Mortgage company may frown upon doing that before it's paid off.

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With the interest rate i have right now the answer is whenever the final payment is due.

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Absolutely this. We could have paid it off, but the rate is under 4% so we are literally making far more money by parking the money in a S&P500 mutual fund. No other debt.