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

That’s what I was thinking too

KC

Nope. Paying them bills.
But all the farm is paid off. Equipment is owned outright.
Farm runs off its own funds. Save the good years to pay for the bad.
The house is not a big concern. Ag lending is way more expensive than a 2.5% mortgage.

But if invested wisely, that $100 grand will net way more than $80 grand, after tax in 30 years. So technically you are right, it’s not free, but it likely not the best net financial decision.

I agree, I needed some plot work done at the club and ran a across a kid straight out of highschool who was advertising on craiglist. Showed up with an old rusty tractor but it got the job done. He now has new tractors, skidsteers, all the attachments...all paid off now...and does all this in the afternoons and weekends after a week of being a linesmen for Ga Power. The kid is busting it and making a ton of money, proud of him. He's probably 25-26 now....just bought 45 acres to build a house and have his shop on. His wife doesnt have to work. And you see all these young folks crying about not making any money. Just a good ol country boy out there getting his.

Yeah I bought my house with cash. Girlfriend lives about 1/4 mile away, much nicer piece of land than mine, great oak woodlot. Friggin outstanding. Very rural.

Disagree on the vehicle. Thats a gotta have.
Borrowed on two trucks and a car for my wife.
Last car loan was 1996, last payment on a car was early 2000.
Started payroll deductions into the credit union to pay for the next one,
and haven't borrowed on a car since.

Saying you may need to borrow for a car recognizes the need for transport.
$20k+ Ain't "need" thats want.

But its the decision a majority folks have made in order to own a home. How many people, especially starting out have the cash to buy a home out right and another 100k to invest. Mortgages are always gonna be there for most. Might as well be at 3% instead of 7%. But yeah, I would certainly imagine that home will be worth a lot more than 150k you paid in the long run over 30 years as long as its been halfway kept up and in a decent area.

Just depends on what you could do with that 100k if you didn't dump it into a house.

Have you ever looked at the prices of vehicles in other countries? The same model comes in at half or less. That's because of people who buy from a dealership get royally screwed on the new price and think they're getting some kind of deal at 0% of a vehicle that costs 40 grand less in every other country. It's easy for a dealer/manufacturer to knock off 5 or even 10 grand on the price when it's over priced by 40 or more to begin with.

I haven't purchased a new vehicle since 2000 - same with purchasing from a dealer of any type. I buy strictly from individuals like yourself who got royally ass raped (but proudly at 0% - LOLOLOL) when they're 2-5 years old for less than half what a new one cost. What folks like you have done to truck prices in this country means I drive the same truck I've had since the late 90's just because I'm not paying what they go for now.

And Geno hits it put of the park!!!


People's just gots to have da newest body style,
The status.

As long as that drives sales, prices will climb.

How many people 25 years into a 30 year mortgage are into their 3rd, 4th, or 5th new car over that time? How many were even remotely wore out at time of trade?
How many have had even more cars, leased?

As long as people run to the dealer because they NEED a NEW car and are
going to only consider a new car. Paying whatever a new car costs.
The price of new cars can continue to go up, radically.

Have found the very best bargains in cars come from buying the last years of the last body style. Especially when that style is 3-4 years+ out of date.
By that time in its production, bugs have been worked out.
Other flaws are known, and their fixes can be factored in.

And ironically, Mr/Mrs Jones will pay more for a car
1 year newer (body style) with higher miles, than the older car sells for
with low miles.

Conspicuous Consumption is one of our big problems.


Tieing that into our discussion, how many of the albatross mortgages are
for needed homes.

4000sqft for a family of 3.2
.
One family member working 3+ weeks a month to serve that house.
And we cry about home prices.




They talk about me being "rich" at work.
Because I have no debt and cash in my wallet, only cash pay checks
every other payday.

Living in a 1050sqft home, average age of our 2 Dodges, 1 Ford, 1 Chevy is
is 16 years old.


Meanwhile they traded a nice vehicle for a new one and their car payment
is way bigger than our mortgage was. On guy had a house payment (30yr)
2 1/2 times ours. Making less than me.(But my Mom doesn't carry us)

Paid mine off about 4 years ago at 50 years old.
Never approached it as an investment. Wanted a place that I would like, so I put a decent house on a nice piece of land in an awesome area.
Have no clue what it's "worth" and don't care.

Not at all.

I bought it two years ago while considering a divorce. I hope to have it payed off in 13 years but at 3.2% interest, and getting more back longterm from my IRA and Roth than what I pay in interest and being a gun whore. 13 years may be optimistic. I look at it as investment and storage unit for toys, and a man retreat. If things went bad it’s nice having a second option two blocks away.

I’d rather have a cabin up north, which was the original plan (our primary home is in her name and 1/2 paid off). At some point I’ll probably sell mine and buy a cabin on land or take a second mortgage to pay for a cabin and rent this one out but I’ve put a lot of time and money in to upgrading this one and hate the idea of renting it.

Yup, Karen and I bought our home when we married at twenty years of age.

We had it paid off by the time we were thirty years old.

We still live in our wonderful home after 57 years.

Blessings,

Steve

Great to hear from you, Steve.

Hope you’re doing better.

🦫

Congrats!

I wish that I had that maturity and wisdom at a young age.

I took the short bus but better to learn slowly than not at all😉

Yep and I don't know what it's worth because I'm not looking to sell. I like it here. Suppose I should find out for insurance purposes. No debt except to Uncle Sam who has his thumb in my eye socket twice a year. Live within your means and everything works itself out.

Ramsey had ought to take all that money he's made since his bankruptcies and get a rib removed. That way he can suck his own cock instead of charging people to do it.

Should be, but i piss away too much money on toys. About got everything i need as far as that goes though. Plan on buckling down and paying it off within the next 2 years or so. About to turn 40. Dont want to have debt my whole life.

I am just about where you are, pay off next summer, except I'm 60.

These rising interest rates are going to fugk folks more than they ever knew this is going to be 2008 x3

It seems that a big key to a paid off house is to avoid acquiring ex wives, no?