Home Forums Hunting & Shooting Hunter's Campfire Is your house paid for?

I’m 49. Carry a small mortgage on a second home because the money was virtually free. My net worth is many multiples of the mortgage balance and I could pay it off tomorrow if I wanted to. But who doesn’t want money at 3pct before factoring in the tax deduction?

Paid for mine when I was 44. Could have done it earlier but chose not to. Moved in 2012 to accommodate some health problems. Paid cash on the difference. Presently worth $750,000 - $800,000. At present am down about $50,000 on investments. Assuming I live awhile the market will recover as it always does and I will be back to where I was.

Jim

The reason why if you're extra cash was earning less interest..

Interesting thing, taxes.


People like to talk about them, bitch or brag.

Thing is, as much as we hate them we love them.
Roads, schools, emergency response (even volunteer "self-funded depts get money from taxes) we expect the things taxes buy.

You pay for it.
Renter? Don't think the landlord pays it. It's in the rent.



A guy from Virginia and I were chatting, he ask about my property taxes.
He pays way less, on 3 times the house.

Then, the revelation!

This was...an intelligent and honest man!

"What I didn't tell you was about our other taxes. You pay real estate taxes
and you are done. When I pay for my vehicle registration, I get taxed on the value of my cars. Along with the simple registration fee like you pay. And it is substantial. It is the number one teason i drive a 25 year old pickup. I van afford a new one, would like one. But the taxes on $60k worth of pickup is crazy, and im not buying a truck just to fork over that much money to the state every year "

And he went on to describe other taxes he pays, that we don't.

Illuminating.

We all be paying Da Man.
He just takin it in different ways.

I don’t expect schidt anymore from anyone

Zero ...and tax free......

Ramsey recommends living like a peasant for your whole working life so you can be wealthy for the last 10 years of your life when you are all crippled up lol. I didn't buy until I was about 35.... payed 180k for a junk house on a couple acres in a really nice area..… spent all my spare cash and did all the work myself but when I refinanced last year it appraised for 550k.... I got a 15 year mortgage for 2.1%. I also have a boat payment and we have one truck payment...ohhhh the HORROR 🤣🤣🤣 I put good down payments on both and can dump em quick if ever need to but I'm gonna enjoy life now while my kids are young..... we can eat out whenever we feel like it, still put a little in the savings account every week and I have enough guns, trailers, and other chit I could liquidate if I ever need to. My house will be payed for by the time I retire at 55 and I will have a really good pension and annuity to pay my taxes and utilities.

It will be. Our house is in the process of being sold (Full price offer, closing at the end of Nov). Will be paying cash for the new house in Cedar City Utah.

One yes, one no. Plan on buying a 3rd with cash in the next 18 months if the housing market does what I think it will do in the PNW. The one with a mortgage has a rate so cheap I have zero motivation to pay it off. I will probably never get money that cheap again.

Paid off my first house at 30. Bought some land and built another bigger house cash money. Renting the first house but may sell when the time is right. Taxes where I live are low out in the country and I have exemption on the first house in town. I’m 47. Both trucks paid off no debt just monthly utilities bills food and hunting stuff lol.

Not yet, have 28yesrs left if we don’t pay off early. Owe $160k on a 480k piece. Should be done in 2.5-3years as it our only debt.

Two are paid off.

I started my own business when I was younger. I am now 37. Worked my ass off, and now own my home, a rental, 170 acres of land and no vehicle payment. Not bragging, but I am proud of myself and my wife.

My van is paid for! It's a warm dry home

Had one paid for, sure was nice. But county and area getting rough. Bought our current house in 2019, refinanced when things got real low and put more down. Got about 70% equity in it now. Hope to have it paid off before the first goes to college in about 5 years. Anyway if I die soon, wife can sell it and walk away with a bunch of money.

When kids are out of the house, probably gonna build something on some old scrub hunting land we have and live the rest of our days shooting deer off the back porch.

I've got a uncle who saved his whole life, multi millionaire and my aunt still outside hanging clothes out to dry. Neighborhood turned and he still refused to sell and move. He claims to have saved and invested 33% of every paycheck he has ever made. Chemical engineer. Aunt got cancer and died about 30 years ago, she never got to enjoy any of it. He remarried and started spending some of it, took new wife on nice vacations, etc. He's given the max gift tax limit to all of his grandchildren since they were born, they are graduating highschool with hundreds of grand in the bank each. He finally bought his first new vehicle ever a couple years back, a 2wd Tacoma. Told my mom it was time to start spending it. He's 88 now. I know he's leaving each daughter a mil a piece, and each of his 6 grandchildren 500k a piece when he kicks the bucket.

Shucks, I don't even know you and I'm proud of you too! Good work!

House, land, vehicles, tractor, cattle all paid for since 1992. House and tractor are both '78 models. Only thing we owe on is water, electricity, and credit card which are paid in full every month. No interest being paid here, we do not rent money.

We bought our house 21 years ago, and paid cash for it. An intangible value of the property is this million-dollar view out the back door!