Being in a position where one can pay off their property early is a good thing! There isn’t a right or wrong answer to this question. However, your goals as a homeowner will help you get the answer you want!
When clients approach us with this question, we assist them by asking them several questions. If you are in a position where you can pay off your mortgage early, ask yourself:
If you are looking to maximize your money, take a look at your situation and see if paying off your mortgage is reasonable. Paying off a mortgage and investing in an asset is common, but it can add more stress to your life (paying bills, finding the right property to invest in, etc.). If you want to start investing, we can assist you by looking at your situation and guiding you throughout the process.
If you’re looking to make your life easier by paying off your mortgage, we recommend that you do! Paying off your mortgage means you don’t have to worry about a payment and you can enjoy living in your property. You can kick back, relax, and enjoy a mortgage-free life!
Overall, paying off your mortgage early will depend on your plans as a homeowner. Look at the overall picture and decide on what works best for your situation! If you need help deciding if paying off your mortgage is right for you, feel free to contact us. We are here to assist you with anything homebuying related!