If you’ve paid off your mortgage, how much is your house worth?

Mine is paid off as I bough 26 years ago and never moved.

Value has nothing to do with it. Just didnt join the "climbing the property" ladder cult. Bought once and made do, yes kids shared bedrooms, no we didnt always have much room but we managed. More money was available for the family as we werent servicing a massive mortgage.

I bought my current home outright 5 years ago but my goodness I feel like a pauper compared to the pp on this thread!
I paid £120,000 for this place. I know the value has increased substantially since then. I'd love to move to a better area, even if it meant a smaller place or somewhere without a garden but I literally can't face the thought of moving again. Since my DH died in 2005 I've moved 3 times and I really can't do it again.

Don’t compare yourself to people who got on the ladder years ago! My parents house was 45k ish in the 80s, it’s now more worth 1.8m 😆

£450k maybe a bit more.

Worth around £500K, paid £245K for it, can't remember how much the mortgage was for, £1xxK something as we had a large deposit.

Your question is a bit 'how long is a piece of string' though, as the value of a house now is nothing to do with the price paid for it & the amount of mortgage there was on it.

I’m 63 and bought my house with cash. Bought my first property at 24. Buying and selling, inheriting from my DH and parents and was able to buy the last couple houses outright. My house is worth £1.25m (bought in 2021 for £920k but have made improvements).
The Thatcher years encouraged everyone to buy as soon as they got a job and you just about could, or bought with a friend. Then as values outpaced salaries you waited til you built up some equity, you were earning more so could get a bigger mortgage and you bought with your partner who also had a property. One or two moves and over time you pay the mortgage off. I imagine yes the lower the mortgage the sooner you might pay it off…. I live in London.

Bought for mid six figures in 2012 with a mortgage of £350k as we sold another property. mortgage paid off after about 7 years, now worth £1.2m ish.

We had a couple of good years and we prioritise mortgages and saving for retirement.

My house has been paid off since I was 40 but it’s only worth £250k. It’s small but lovely and perfectly fine for me & my DD.

I just absolutely love the security of not having a mortgage. I put far more importance on enjoying my life.

Ours is paid off, but we live in a 2 bed terrace in the North of England, so it's only worth 100k - if we're lucky!

Going to be very unpopular, we bought our 3 bed end of terrace council house 1981 thanks to Maggie Thatcher for £9375 half market value as we'd been tenants long enough to qualify. It had been brand new when we moved in a few yrs previous.

Sold it to downsize for £178.000 early 2000s. Bought outright, a ground floor maisonette. I'm on my own now, so my next move is already paid for..via the Coop, no flowers by request😎

I do agree its a travesty more houses weren't built with the money the councils gained. I have family paying nearly £2000 a month to rent with no hope of ever saving to buy down south, even with 2 working full time.

Not quite paid off but will be next year
House worth £300k

3 million pound house paid off at 23 and a half 🙄😅
In reality mortgage ends when I retire in 3 years at hopefully 62. House worth about 450k. We’ve now got enough to pay it off in savings but would rather keep it in case. We’ve given both our kids good deposits to help them house themselves and generally enjoyed our life so no regrets.

We could have paid ours off early but chose travel and some fun instead. Only 50 when we did finish paying now have 3 properties worth around £3.5 million.

In summary, appreciation, inflation and upgrading.

Paid off at 35, worth 750k

This. I had paid off my mortgage at 39. House now worth about 300k which isn’t a huge amount compared to today’s prices. It cost me 62k when I bought it and money was tight then and once or twice we struggled. I had a twenty year mortgage and repaid in about 17 years as nearer the end, from year 14, we remortgaged and increased term and payments as there was less due then.

Anyway to answer your question. House bought for 90k in 1990 sold for 600k in 2015 (on divorce). Bought house outright for 180k in 2015 (after divorce). Sold in 2023 for 370k. Bought house for 280 in 2023. Now worth around 350k. No mortgage since 2015.

Surely you’ve watched homes under the hammer :-)

£350k, bought outright

House worth around £450k. Bought for 320k in 2020, mortgage of £200k. spent £80k doing it up / extensions etc. 3 bed semi-detached 6 year old new build. Mortgage paid off this year. Quite young, both 30 years old. Looking to sell and move but it's impossible living down south and the house prices are so high. We need to be here another 5 years really to make a decent profit.

We own three properties.
The first one was mortgage free at 41/48, the second was inherited and the third was bought outright with savings and what we’d squirrelled away by being mortgage free for 8 years!

Not sure what they’re worth today.
Our tactic was “live below your means and have aged parents”🙁.

It’s about how long you’ve had a mortgage for and what the property was worth when you bought it, just as much as the current value of the house.
Our first mortgage was £140k on a property we bought for £160k - that was almost 25 years ago. Now our mortgage is 85k but our house is worth over 700k (we’ve added to mortgage over the years when we moved house/built an extension, as well as paying it off.)

So in around 5 years we will be mortgage-free in a property worth well in excess of 700k but that’s because we’ve built up equity over 25 years of house ownership.

My 3 bed semi in 2001 cost £65k. Mortgage £65k. Age 22 + married.

Had we stayed in that house, the mortgage would have been paid by 2016 easily on our joint income. I'd have been 37 yrs old and mortgage free. The house is on Zoopla for £250k. But the kids grew, so the house needed to be bigger. So the mortgage got bigger.

Then after a few "buy bigger" house moves, we divorced.

So I'm back in a house the same size as the first, with a £220k mortgage. And thankful that my salary allows me that level of borrowing on just my salary. And likely to finish paying off the mortgage when I'm 69.

I despair for my children trying to afford their first house.

@Georgeinacan YANBU, people saying you are are wrong. Yes lots of variables, but if I'd stayed in my first 2 bed quasi semi which was £32k, it would have been paid off decades ago. But I didn't. My house has sim value to yours and I owe c£300k. So no chance it being paid off in the next 5 years! But I will downsize and take the equity to make me mortgage free soon...!

750k
200k
and 300k.