should we pay off house

JAXFL wrote:
If you own the house it will NEVER be paid off. I finished making mortgage payment a few years ago but I still owe on it... There are taxes (hundreds to thousands a year)every year, there is insurances, there are utilities, there is repairs, there is yard work, it never ends...

Outstanding observation ... I'll remember this viewpoint as the real one to have.

What you're saying is "having your mortgage paid off just reduces what you owe on your home - it does not eliminate what you owe on your home".

bbaker2001 wrote:
we, I mean ME would like to rent it out for a yr or 2 and full time. wife not so sure. we are already out 5-6 months yr. next year we want to take the whole trip. not sure if we start south and go north or north and go south.
California--AZ--east to Florida north towards Canada--West to Portland south to Ca. or is it better to go North route.

Can't tell you what route is best to start with- what would you like to see first? What kind of weather do you prefer and RV do you have to deal w/ bad weather? These are good questions for you and your SO to ask one another and get the joy of planning in advance.
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Old-Biscuit wrote:

John&Joey wrote:
Just a little story, if you agree with it or not doesn't really matter, but it's something to think about as you get older.

A friend of mine got a massive heart attack that left him disabled. His DW went to an attorney seeking console. His statement to her was pay off the house, buy a new car, upgrade all the appliances in the house and purchase new clothes. Once the US health system depleted all their savings, these were the items they could not touch.

Thought Obamacare fixed that

Prior to "Obamacare" you could (and STILL can) fill in that particular noun with...nursing home/ rehab center/hospice. Significant expenses that can hit you like a 100 mph train if you haven't thought of it.

Same as it ever was; you have to plan for all stages of life.

I don't get why an atty would tell me to upgrade appliances, sell/pay off the house and buy a new car but maybe that family's financials were different from my own.
Which is an important point. We aren't cookie cutter people in this country.

John&Joey wrote:
Just a little story, if you agree with it or not doesn't really matter, but it's something to think about as you get older.

A friend of mine got a massive heart attack that left him disabled. His DW went to an attorney seeking console. His statement to her was pay off the house, buy a new car, upgrade all the appliances in the house and purchase new clothes. Once the US health system depleted all their savings, these were the items they could not touch.

Definitely some food for thought...thanks for the share

John&Joey wrote:
Just a little story, if you agree with it or not doesn't really matter, but it's something to think about as you get older.

A friend of mine got a massive heart attack that left him disabled. His DW went to an attorney seeking console. His statement to her was pay off the house, buy a new car, upgrade all the appliances in the house and purchase new clothes. Once the US health system depleted all their savings, these were the items they could not touch.

Thought Obamacare fixed that

Just a little story, if you agree with it or not doesn't really matter, but it's something to think about as you get older.

A friend of mine got a massive heart attack that left him disabled. His DW went to an attorney seeking console. His statement to her was pay off the house, buy a new car, upgrade all the appliances in the house and purchase new clothes. Once the US health system depleted all their savings, these were the items they could not touch.

chuck, see you are in Or. we are up in k-falls
we will be back starting June 18th for 2 1/2 months

A lot of people have never planned. That being said, we paid our home of years ago. Through steady over payments, and saved every cent we could. NOw we travel to every state we want on SS and savings.

We stay for FREE :B in state, federal parks as volunteers for 3-4 month each place, and it costs us a bit over 3k per year for taxes on the home. plus a small amount for lawn service. Yes the travel to the places is a bit, but the savings for staying is greater.


Some have sold the home then OVER BOUGHT a unit and have payments,, never make payments on a fun thing.

Pay off the home, then if you can afford a 25' trailer go for it and a good 3/4ton pick up to pull it.

Have fun and enjoy life . We have been doing this for 5-6 years and from OR, AK, TX GA. all the east coast now on the west coast.
CYA on the road?
Chuck

we, I mean ME would like to rent it out for a yr or 2 and full time. wife not so sure. we are already out 5-6 months yr. next year we want to take the whole trip. not sure if we start south and go north or north and go south.
California--AZ--east to Florida north towards Canada--West to Portland south to Ca. or is it better to go North route.

pasusan wrote:

JAXFL wrote:
bbaker2001

If you own the house it will NEVER be paid off. I finished making mortgage payment a few years ago but I still owe on it... There are taxes (hundreds to thousands a year)every year, there is insurances, there are utilities, there is repairs, there is yard work, it never ends... that is why a lot of people go with FULLTIME... yea you have bills there also but not as much as owning a S&B/

This is true. We have paid everything off as quickly as possible and have paid very little in interest our whole lives.

But - the expenses are still there. I was shocked to find it costs us $10,000 per year to live in our paid off house. Just with taxes, insurance, utilities - the bills just keep coming. And that doesn't even include general upkeep and maintenance. UGH!

It does feel good to have have no monthly payments that include interest... For what that's worth. :)

No matter what type of residence you live in it's going to cost.
Heck even a grave generates annual fees.

May all go as you wish, bbaker!:)