What age would you think you’ll have paid your mortgage off

[LovelyYellowLabrador]

Just trying to decide to extend, or move Moving would cost us about. 170k more for the next house up
4 bed detached

Current 3 bed semi
Or extend this by going three story
With a master bedroom and en-suite in loft with a full width dorma for about 50k
Mayble slightly more

Apprently in the loft we could have two bedrooms or one master suite
We’d go for one master suite ideally with a little seating relaxing area as well

Depends on location- we love our house and so have extended out the back and up into the loft. Mortgage has another 15 years - I’ll be 50 dh 54. Ideally would time with kids might want to start university so 11 or min 13 years which is probably more realistic!

50 I think. Took out my first mortgage 18 months ago just before I turned 30. It's small but I'm single and a low earner.

65 😬
Dh is be a sprightly 57 though..

Its a bloody huge mortgage (>650k) and we have no interest in overpaying as our investment gains way out pace the mortgage interest rate

Filling having to buy on my own following divorce, my mortgage final payment is due when I am 73.

Following!

Currently it'll be 55 although we normally shave time off when we remortgage so probably 52 if it goes to plan.

We finished ours at 40.

We will be 50 fingers crossed

60 at the moment. I'm hoping we can bring it down a bit though.

47. But hope to overpay a bit and shave a few years off

I'm 43 now. I have enough in savings/investments to pay it off, but my money is working harder for me where it is so I'm letting the mortgage run. It should be paid off by the time I'm 50 anyway just on normal repayments (took out a 25 year term in my early 20s).

Paid mine at 46, but only due to an insurance policy paying out that cleared my mortgage. This wasn't my forever home (purchased after divorce), but a change in circumstances has made me reconsider life plans/goals.

Security is important, but so is living your life and being able to enjoy time with loved ones.

I'm hoping to have done it by 30.

We're mortgage free but trading up and aim to have the new one paid off by 50.

34 but we moved to a bigger house a couple of years later. We paid that mortgage at 42 and don’t plan on moving.

55

48 if I don't overpay.

I was done by 46.

In your position Op I would probably move. I think you need to look at the detached house as a bit of an investment, as well as a home. It’ll increase far more in value than your current home. And will also allow you to do a downsize in the future and free up some capital for your retirement.

As others have said, the current cost of renovations/extensions is sky high due to materials. I think your £50k estimate is probably a bit conservative.

God...by the time we're 65 if we're lucky. House at a young age, but plenty of mistakes along the way.

Couldn't get a mortgage until 45 so 67

On track for me at 44 and husband at 48 but I might want to move in that time who knows

Should be in 12 months. So approaching 41. But in all fairness I am deciding wether to move. I am permanently wfh. I got this house when I wasn't earning very much and a single parent.

With wfh its just too small and doesn't have a dining room. Would love to be able to have dad over for dinner and a large kitchen diner. And a small office.

So I may end up with another small mortgage in a year

turkeyisoverrated what were the investments?

Never had a mortgage and never will. Always rented. Bought a derelict house for cash two years ago at 57, still restoring it, should be done by next year.