Everything you need to know about paying off your home early, getting a mortgage and saving money around the house.
Today is the 2nd and final part in this series.
If you missed part 1, you can read it here.
One of the discussions that came up in part 1 was about investing instead of paying off your home early.
It’s a common perspective that you shouldn’t pay off your mortgage early, but you should invest the money instead.
It makes sense, because mortgage rates are low right now and you can probably earn more by investing than you can save by paying off your home early, but there is actually a way to take advantage of both!
It’s not always about having the highest return, sometimes it’s simply about being totally 100% debt-free…which is an amazing feeling.
Soon I’ll be publishing an article on how to get the best of both worlds, but for today, here is part 2 of what you should know before you start paying off your mortgage…
“I’m in debt. I am a true American.” -Balki Bartokomous
It’s true. Just about every person in American (and much of the world) is in debt.
We are so used to it that we even consider ourselves to be debt-free when we still have a mortgage.
You know how it goes…
“Yeah, I’m debt-free…well, except for my house.”
If you have a mortgage you are not debt-free.
But you can be…
There is a lot to know before you start paying off your home early…
To rent or to buy…that is the question.
I recently wrote an entire 2-part article about this.
This infographic explains a few more points.
It’s not an easy decision, so you will want to do some research.
You’re in the right place…
Last week, we compared renting to buying.
I wrote about powerful strategies for paying off your mortgage early.
That’s for those of you who decided to buy.
But, before you decide to pay off your mortgage early, you need to ask yourself a very important question:
Should you pay your mortgage off early?
Some people believe paying off your mortgage early is dumb. Let’s see why they think that…
Welcome to part 2 as we are asking the question:
Should you buy or rent your home?
In part 1, we covered the usual home buying story.
We also covered what do to when the answer is obvious and some of what to do when the answer is not obvious.
Let’s dive deeper into what to do when the answer is not obvious.
We are going a little further into the actual pros and cons of each side and taking a closer look at the buying vs. renting debate.
Let’s see what makes the most sense for you…
Should you rent or buy your home?
A common, yet complex question.
If only the answer was as simple as choosing one of the two.
We’re not that lucky.
In fact, if anyone tells you that one is always better than the other, just smile and nod.
And then stop taking advice from them…