Quote:
Originally Posted by Tyler
People are under a bit of an illusion that after you pay off your mortgage, there are no housing costs.
You're still going to be responsible for
Home Insurance
Property Taxes
Maintenance Costs
Utilities
etc
All of this probably still adds up to $1000+ a month for most people, even if they have a paid off mortgage
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You really do have to add up the value of the money in your house too. Even at 3% your 500k is worth $1250 a month. And there's very little risk to the downside at that rate.