|
One thing to consider - everyone talks about putting money into your house as an investment. The problem is that, when you sell your house, let's say you got $10,000 more than what you paid. That $10,000 is yours, regardless of whether you own 0% of your home or 100% of your home. That's what my mortgage broker told me - when you pay down your mortgage early, you're not "making a return" - you're just saving interest.
That said, I like to pay my mortgage down early. Yes, it's possible that I could be making a better return somewhere else, but once I have my mortgage paid off, that's like a $1500 a month annuity. That's what I'm buying by paying down my mortgage - the earlier I pay it down, the earlier I get the annuity.
__________________
Steve Wilwerding
1998 3.4L Zenith Blue Boxster
2009 Meteor Gray Cayenne
|