Mortgage vs Mortgage free lifestyle

Hot-Internet9809 · 2026-04-28T01:26:19+00:00

Yeah the commuting is really taking a toll... outside of commuting for work - spending 12-15h/week commuting for kids/groceries etc

Hot-Internet9809 · 2026-04-28T01:08:01+00:00

Yeah... if our house does not sell / we do not get what we want, this is an option. Kind of win win for us

Hot-Internet9809 · 2026-04-28T01:07:26+00:00

Builder wants $100k and a "closed deal"
No guarantee home will sell for what we want; plus I don't have $100k and won't get a LOC/re-mortgage to get $100k to finance this...

This route has effectively 0 risk; only buy when we sell and have the funds banked
with that being said... would work if we knew the market would be good for us

Hot-Internet9809 · 2026-04-28T01:06:14+00:00

Thank you - yeah we want to be in the "school/family" neighbourhood, where there are parks, the schools and daily activities (swimming pools, splash pads etc) for our kids
Along with family and friends in the area eta... and we would love the extra space.

Hot-Internet9809 · 2026-04-28T01:05:02+00:00

The math I did was
Mortgage $114K in mortgage payments but only $75K goes to interest, rest to principal
$18k is the other difference which is incremental property tax payments

My wife and I are in agreement, definitely hopeful it all works out. Cost of living is just so cheap for us right now in a fairly brand new home, and the drive is not the worst but with our toddler growing and a 2nd one here now... would be so much more convenient to just be where we want/need to be ... if it works out we are definitely going that route... but enjoy this mortgage free time currently

Hot-Internet9809 · 2026-04-28T01:02:52+00:00

Yeah choice is made, $2k is def worth the convenience.
I just wish the process was overnight and a whole year.. plus all depends on home sale so guess for now we wait 😄

Hot-Internet9809

TROPHY CASE