I'm a home Owner now.

Congrats on owning the house but you dont own the land as you only own title to the land. Keep your sidewalk shoveled when it snows or the communists will take it all from you. I jest but i dont jest cause the world we think we understand is nothing like the way it is.

I am very happy for you but keep that in mind. I will pay my house off next few years depending on what i do or dont do and trust me i am as disappointed as you that i dont really own nothing other then an aging asset that i keep poring money into. You are better off then many however so you can hang that medal round your neck.

The UCP want to bolster property rights so that it is harder for the communists to just take your land from you for the many reasons they can so look forward to that happening if it ever happens. I am still waiting for the UCP to make it so they can never force jab me which was a campaign promise. They have yet to make it so if the government changes that i have this right.

They rigged the game. We need to unrig the rigged system. USA uses same or similar system. In USA you cant own your land either. That might change soon but it will be state by state i.e Florida will kick it off
 
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I did the same thing a few years ago. Rather than renew, I was able to pull together enough money to just pay it off. The bank was pissed. The chi-com agent they made me deal with got snarly with me when she couldn't sell me on at least a heloc for renos.
Now 3 years later we've saved enough for some renovations in the spring. The basement needs a full waterproofing job and the tile replaced first.
 
All the financial gurus will tell you to do this, but so rare to hear of someone who pulled it off. Keep us updated on how the renos go.
 
Most people will say, “Don’t pay off your house invest instead so you can get a return.” And I’m like, WTF? I’m not a financial guru, so where exactly am I supposed to invest and reliably get a 4% return?

To me, paying off the house makes way more sense. I’d save $1,800 a month, and even if I lost my job, I’d still have a basic roof over my head. I could work at Walmart, pay the bills, and feed myself. Even if you fall behind on property taxes, they’re not going to take your house away overnight.
 
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@TOPDAWG The math does show investing in the stock market will lead to a better financial outcome over paying off your mortgage, but any respectable financial planner will never tell you that paying off your mortgage is a bad thing. Congrats!

We're still quite a ways to go to paying off our mortgage, but I plan to have it out of the way in about 10 years, well before we're ready to retire.
 
I still need to fix a wall from a cracked pipe in my basement, which will be about $1,000 to patch the walls back up so not terrible overall. I already had the mold removed, which cost over $3,000, and it wasn’t even that much. The plumber was around $500 since I removed most of the wall myself and he was able to get the pipe replaced.
 
Good for you. At this time I am stoked to keep my head above water enough to be able to keep making the payments on mine.
 
A lot of smaller communities in Alberta you can get land title for under 50 000. Then just drop a comfy home (modular home/prefab) on that land. Open a based business or go find work in the community or around maybe commute. Bills are low and at that point all u got to do after is live comfy. Lots of my younger family members are doing this because the life in cities is to expensive. For 150 000 you setup and are done other then paying taxes and bills. Add some solar for summer and lower your electrical bill and get wood or a pellet stove for winter. Water drill a well or use the utility.

Need a Costco its about an hour or hour 15 drive drive away but most will go to the Hutterite colony as it is closer and the food is better. Local farms will sell stuff too.

Its a way different life style some say is harder and easier all at the same time but its an option if the rat race gets to much.

If your a silver stacker you will afford this life style no problem near future whatever time line that all happens on.

For those that are stuck consider a more simple life. A more rewarding life possibly
 
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Too old now to make that kind of radical life change. I make it sound dire, but our mortgaged house value is prob 50% more now. That’s good since I do see it as an investment and not just a plywood box. But if the bubble pops, we’ll be in the big club.
 
It feels good, doesn't it? I paid off my city house a couple of years ago and bought a small acreage, outright, right after that. It feels good to not owe money on anything, especially a house. Congratulations!
 
Yeah, I hope it doesn’t come across like I’m bragging. I’ve done okay for a high school dropout who never made it past the 9th grade.

That said, I did get my GED after I dropped out, and when I came to Canada, I did get a 2 year degree in IT networking.
 
I don't think you are bragging, you have a right to be proud of that accomplishment.

When I paid off my house I was numb for a bit after I got home from the bank. I sat on my couch with the paperwork on the coffee table in front of me in a state of disbelief. It took a while for it to sink in, that I had actually done it after having that payment for all those years. It sure was nice to have a bunch of money left in my bank account at the end of the month.
 
Congrats, glad to see people doing this - it's a smart idea. You are harder to control if you have no debt.

That said, I am worried about the punishment that the government is looking at putting into practice with a home equity tax - they won't tax people who have mortgages, but they are looking to punish those people that were responsible and paid off their debt.
 
Now you're a home maintainer. You know all the finance influencer (like Dave Ramsey) and so on begging people to have a six month emergency fund? You should have a six month emergency fund + whatever it would cost to replace your roof.
 
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