Posted: 6/12/2009 5:17:29 AM EDT
Well I did it......sent the last payment on my house..........Snoopy happy dance time 
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Serious congrats!! That's a hell of position to get yourself into!!!!
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Behind the curve, not even started purchase. Young and renting, looking but leery of starting new debt when I haven't paid off truck. Cheap family "farm" basically. Considering just buying it even though it's not exactly what I want. +1 to you though. this is my situation as well. I'm debt free though with a good deposit for a house in hand. I've been looking for the perfect place for too long and then the last few years in my locale we've had a serious bubble caused by Army expansions. It's slowing down and houses are starting to stay on the market a little bit longer. Might as well bite the bullet this summer and get something decent. The plan is modest price in the country with a LITTLE elbow room. Can't afford the dream acreage right now. I'd rather buy modest live and pay it off and then upgrade when I'm flush again in another 8-10 years. |
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Quoted:
Behind the curve, not even started purchase. Young and renting, looking but leery of starting new debt when I haven't paid off truck. Cheap family "farm" basically. Considering just buying it even though it's not exactly what I want. +1 to you though. Its nice to have and or want a small farm. I learned my lesson over extending and we sold our farm. Its a shame but the health care system and the lack of resonable care for elderly buried us in pretty much a 6 figure debt for my grandmother. Sadly we are stuck with the house in FL since the collapse of the economy. This 2 family house we currently live in is our bread and butter. Half is a rental and basically pays all of our bills. While im remodeling the other apartment. Then we will most likely find another hobby farm and have 2 rentals coming in. While waiting for FL to atleast come back enough to not feel sick when selling it lol. If I had to start over I would not have bought the FL house but bought a 2nd 2 family home. Aside from Teotwawki people will need a place to live no matter how bad it gets ya know. |
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Quoted:
Behind the curve, not even started purchase. Young and renting, looking but leery of starting new debt when I haven't paid off truck. Cheap family "farm" basically. Considering just buying it even though it's not exactly what I want. +1 to you though. Dont fall into the trap of my first house has to be my dream home. Get yourself out of debt and establish an emergency fund before you buy.Lots of foreclosed homes out there that arent your dream home but if you buy one on the small cheap side you can pay it off and save to pay cash for that dream home. |
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Well I did it......sent the last payment on my house..........Snoopy happy dance time Congrats +100. Nothing quite like the feeling of knowing something substantial like that is all yours and nothing can change that. I may never pay off the primary residence before we eventually sell it but the BOL/retirement place is paid for including the small BOL cabin on it now. All of the for-retirement construction and improvements are being paid cash as well. What we spend there we can pay 100% where as it would not completely pay off the primary residence mortgage so we figure to keep that mortgage and lock up the BOL 100% from the beginning so we know we have a fallback regardless of what happens. |
Paid our house off last year and that is a damn good feeling.
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Quoted:
Behind the curve, not even started purchase. Young and renting, looking but leery of starting new debt when I haven't paid off truck. Cheap family "farm" basically. Considering just buying it even though it's not exactly what I want. +1 to you though. Dont fall into the trap of my first house has to be my dream home. Get yourself out of debt and establish an emergency fund before you buy.Lots of foreclosed homes out there that arent your dream home but if you buy one on the small cheap side you can pay it off and save to pay cash for that dream home. A straight line is not the shortest path, doable small steps is the quickest. |
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Paying off a house is a good feeling, but for us it was deceptive too. We got used to how it felt living with no house or car payments (spoiled) and when another house came along at a good price, we bought with a HELOC––even though I wasn't working as a result of being downsized three yrs prior. We're now within 10K of getting rid of that payment after 5 yrs now, but in'06 another opportunity presented itself and since it was a good deal, we bit on that too.
Hopefully, by the end of the year we'll have two paid for and feel a little more secure should the bottom drop out on us before we can pay this last one off––and are forced to vacate. I hope we get back to zero again. |