Paid My House Off Today!

[Head Shot]

Erased

 

[Timbertodd]

Congratulations!! We paid ours off a couple of years ago and it is a great feeling.

 

[bikemutt]

Congrats OP, even though it's temporary, enjoy it while you can.

The thing I like most about our POS mid-century home is it's paid for

 

[bbbass]

Congrats Kyle!!!

 

[CountryGent]

Congratulations! That's great news. (We paid ours off June of last year, so know the feeling of that weight being off. )

 

[bbbass]

We sold out in Bend and placed a bunch of equity in our home here in LG. Couldn't pay it 100%, but got it down to where ODVA payments are ridiculously low. It has been better to keep the balance invested than it has to pay the money on a mortgage so low.

We are kinda low fixed income... what is killing us is the yearly property tax of $1200. If it wasn't for a yearly required distribution from my wife's IRA, we would have to put money back into a tax savings account, which would affect lifestyle. We are already pared down to the next thing that would go is food. That's not ok.

If I die, the wife has enough between our two IRAs to easily pay off the house and add a bit monthly to pad expenses. That's the plan so far. If she passes first, I will have 1/3 less income, but won't need to pay off the house. Might want to sell out and move into the trailer... it would be much less maint, and mobility might be good.

 

[Timbertodd]

what is killing us is the yearly property tax of $1200.

Man I wished our property tax was $1200.

 

[rupey7]

We paid ours off August 2015. I wanted to have a big BBQ with friends and family but the wife thought it would be boasting. I was just excited and wanted to celebrate, oh well. The kids are moved out and I was 54 when we paid it off so we've been saving a bunch more cash for when I retire. One thing it did was highlight how much the stinking property taxes are now that they are stand alone!

 

[malakajim]

I just paid mine off in February and it felt great. Now if I could only get $1200 property tax, I would be set.

 

[bbbass]

Man I wished our property tax was $1200.

Yeah, I knew I'd get those kind of comments. Prop values are lower here and we live in a 1240sqft double wide. Try coming up with $1200 on a $16,000 yearly income. It takes a bite.

You wish? You can get that kind of prop tax by moving. I'm not responsible for where others choose to live.

 

[bbbass]

I just paid mine off in February and it felt great. Now if I could only get $1200 property tax, I would be set.

Bless your heart Portlander!

 

[Timbertodd]

Yeah, I knew I'd get those kind of comments. Prop values are lower here and we live in a 1240sqft double wide. Try coming up with $1200 on a $16,000 yearly income. It takes a bite.

You wish? You can get that kind of prop tax by moving. I'm not responsible for where others choose to live.

I didn't mean any offense. A set income like that would be very difficult.

 

[bbbass]

I didn't mean any offense. A set income like that would be very difficult.

Thanks for saying that. Usually, when people say yeah, i wish i had that as a problem, they are minimizing/mocking somebody else's claims of woe... example: having a beauty for a wife that wants to do the wild thing every night! Sorry I misunderstood.