To ask if you own your home outright, how much is it worth?

We didn't even buy our house until our mid thirties so certainly weren't mortgage free at that age. We're now early fifties and have paid off the mortgage by overpaying as much as we could. Worth about 600-700k. Have paid it off just in time to use the money we would have been spending on the mortgage, putting first one, then the next child through university.

Too many variables to answer. Where in country do you live, what house size do you need vs how big could you go, how will being mortgage free change your life?

We're mortgage free but our house is only worth £200k at most. Technically it's big enough for us - a couple in an extended 2 bed and it does suit us in some ways, but there's also some downsides but we're too lazy to move

But being mortgage free hasn't really changed our life/disposable income as our mortgage payment was less than 10% of our income for the last few years we had it.

But if being mortgage free would make life a lot more affordable for you, eg you're struggling with increased payments against a backdrop of other increases in costs and downsizing would ease that while still remaining in a home that's big enough, it could be a sensible move.

I was mortgage free at 40 and then borrowed £250k to get a bigger house next to fantastic school. In my view it's all about weighing up what is important to you. At different life stages you want and need different things.

In my 30s I didn't need so much space but I was in zone 1 because I wanted to be out a lot and close to work. In my 40s with kids I want space and location.

In my 50s / 60s it may all change again. Theres not really a right or wrong answer just priorities.

Why would you expect to be mortgage free in your thirties? That’s quite uncommon.

We could be mortgage free but we wouldn’t want to live somewhere we could afford to buy outright. Instead we have a big house in an area we love, but we owe the bank £470k. Even with the extra £££ per month we’d have for being mortgage free, I can’t imagine we’d have a better quality of life for that. And isn’t that the point?

We are mortgage free and in our early 40s and our home is worth about 350k (Norfolk). Yep we could keep borrowing and buy a larger home but why would we? It’s big enough for our needs, we’ve been here for 15 years so made it our own and we like the area. We just spend the money we’d spend on a mortgage on days out / holidays / fun stuff.

225k. Paid off £65k mortgage through inheritance aged 50. Small 2 bedroomed house which I'd love to be bigger but I like having no debt.