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Original poster

Buy the house or pay off mortgage by 42?

85 replies

BHFEPP · 13/01/2026 20:04

Just as the title really. I am 38 and could pay off my mortgage by 42 if all is well (got the bulk ready to pay off in chunks already, haven’t done in full as it’s currently invested).

Anyway…I’ve just found my dream home. Absolutely beautiful and exactly where I would love to be. But, it would mean taking out a chunky mortgage and realistically I would be paying it off for many years to come. Part of me thinks go for it and if I ever have to downsize I can, the other part of me thinks just leave it and accept where I am and what I have. For context current home worth 550k. The one I love is 695k.

OP posts:
blankcanvas3 · 13/01/2026 20:14

145k mortgage is pretty small and if you’re overpaying/saving now then I can’t see why you couldn’t pay the new house mortgage off early too. Go for the dream house

Tigerbalmshark · 13/01/2026 20:12

£145k mortgage seems really small to me! You’d still have paid it off by 55. I’d move to your dream home.

rusiano · 13/01/2026 20:12

I was in your position, mortgage free at 40 then bought a house and took on £200k mortgage. Now I’m 50 I’m a bit fed up with it and it’s talking me a lot longer to pay off than I’d hoped because of the cost of living rises. But…..I do love the house and it works for me and the family in so many ways. I tell myself I could always downsize.

AnSolas · 13/01/2026 20:11

What is your big life plan after 42 and having no mortgage?

What are you going to be doing which you wont be able to do if you move and take on the extra borrowing?

If you balance you at 50 in your dream life in your current house with the dream life in your dream house which life do you want to live?

UniquePinkSwan · 13/01/2026 20:10

Pay off the mortgage. I paid mine off at 44 and it’s life changing. I do love my house though and wouldn’t want to move

WallaceinAnderland · 13/01/2026 20:09

But, it would mean taking out a chunky mortgage and realistically I would be paying it off for many years to come.

How many years?
How do running costs compare - utilities, maintenance, repairs, etc.
What is your pension provision like

Littletreefrog · 13/01/2026 20:08

So only £145k mortgage? I say only as that's a lot to a lot of people including me but if you can afford to pay off a mortgage by 42 it probably won't take you long to pay off another £145k

BuffaloCauliflower · 13/01/2026 20:08

How long would it take you to pay off the additional mortgage? It’s not a huge amount extra in the grand scheme of things and you’ve got loads of equity

Ipsevenenabibas · 13/01/2026 20:06

Ohhh this is difficult! How secure is your work? Are you in good health?

GRCP · 13/01/2026 20:06

I say buy the house.