I know everyone has their own opinion on what's best, being mortgage free or having a good lifestyle. My situation was that two years ago, I decided to sell my old house, nice detached house c. £200K with small £40K mortgage, and could've paid it off in a few years and be mortgage free by early 40's. Then I decided to buy some land, build a house, get a £120K mortgage but have a house worth probably £450K now. But for me, I am more interested in enjoying life, that maybe owning a couple of nice cars, getting involved in an expensive motorsport hobby, having holidays etc rather than knuckling down and paying it off. I guess I could pay this one off in < 10 years but all of my pleasures would be out of the window. My thoughts are if I can have it settled by 50-ish then that would suit me, and maybe move abroard then.
What's everyones thoughts on this, and what drives you to get it paid off earlier (apart from the interest saving) ?
What's everyones thoughts on this, and what drives you to get it paid off earlier (apart from the interest saving) ?
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