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Original poster

To want to celebrate paying off the mortgage

119 replies

BodgerLovesMashedPotato · 28/05/2023 23:19

Not something I can say out loud in RL, as know how insane prices are nowadays and it's hard for people to buy a house, or even pay monthly mortgage payments, but ours has just finished.
Just it's a part of life I feel I need to keep quiet, not sure what to say when talking to others when they're mentioning rent or mortgage payment troubles keeping up etc, and how do I manage it
Just nod and agree it's difficult (as I know how that feels and how shit it feels to scrape by all too well) is what I usually do but it doesn't seem right as by doing this it sounds like I'm paying rent or mortgage payments?
Anyone else rent or mortgage free, as I say can't say in RL and hard to find anyone online who is

OP posts:
SkyandSurf · 29/05/2023 01:06

We are mortgage free in our mid 30s - I would never tell anyone in real life.

It's a good feeling but one you really need to keep to yourself.

Aria999 · 29/05/2023 02:08

Congrats!

We have too (parental help) and I normally don't mention it. Sympathy and open questions will get you through most conversations!

We still have $24k a year of property tax though so it's not all roses.

mjf981 · 29/05/2023 02:39

Aria999 · 29/05/2023 02:08

Congrats!

We have too (parental help) and I normally don't mention it. Sympathy and open questions will get you through most conversations!

We still have $24k a year of property tax though so it's not all roses.

How much in property tax?! Where do you live and what is your house worth? I'm guessing New Jersey or Long Island..

Aria999 · 29/05/2023 03:02

@mjf981 Allegheny County (Pittsburgh), one of the highest in the country apparently! That includes county and city tax.

The 'assessed value' of the home is around $900k.

MeAndZee · 29/05/2023 03:05

We had 2 mortgages but finished one a few years ago. We told close friends, some had paid theirs off, some hadn’t, but they were still pleased for us. I don’t discuss finances outside of our very close circle though but you should be able to mention it to people you’re close to without any issue.

Nicecow · 29/05/2023 03:06

Yay!! Congrats OP! There's nothing quite like the freedom of no mortgage 🤗

MermaidMummy06 · 29/05/2023 03:24

We'll pay ours off this year. We'll celebrate privately with a nice dinner out & just enjoy the feeling of freedom. A friend tells me every time her parents or in laws give them tons of money or overseas holidays so I know the feeling of struggling while others are free, so I won't do that to anyone else.

We've always kept our finances quiet anyway. Partially because it grinds my gears we get called 'lucky' when it's just been hard graft & also so no one asks for a loan. Which happens.

I can't wait though!!

Primrosefrill · 29/05/2023 04:31

Congrats :)

I am so envious. I am 39 and we have 27 years left although we overpay so it'll be less. We do have a very low mortgage rate locked in for the next 4 years though so I am grateful for small things like that.

HuckleberryBlackcurrant · 29/05/2023 05:10

I'm so happy for you! I can only dream of this day!!

Twiglets1 · 29/05/2023 05:24

We’re close to paying ours off now in our mid - late 50s, but I won’t be telling many people when we do. I’m too conscious of others still struggling.
Maybe a low key celebration just with my husband.
Anyway, Congratulations!

greennotepad · 29/05/2023 05:27

Congrats on paying it off, but I don’t think dodging the truth in conversation is something you need to worry about to this degree- how often does that honestly come up, in real life?!

ThomasinaLivesHere · 29/05/2023 05:50

Must be a great feeling! How old are you? Just out of nosiness.

littleblackcat27 · 29/05/2023 06:09

Congrats!

Great feeling - we paid ours off around 7 years ago. I had overpaid on it for quite a few years - that does save a lot in interest rates if you are able to pay extra.

It is a massive relief to get it paid off as we're not in a high income bracket and now in late 50s

RuthW · 29/05/2023 06:27

Congratulations. I paid mine off last year. It's a great feeling.

LlynTegid · 29/05/2023 06:30

When I did I spent the first month's non-payment on a holiday.

TallerThanAverage · 29/05/2023 06:37

We took our mortgage out when I was 25 and I remember saying, omg I’ll be 50 when this finishes. I was 48 when we paid it off because we overpaid a little each month. That was four years ago, I told close friends and over the years I’ll just be honest if someone asks. When we were starting out others were paying off their mortgages so I don’t see what the problem is. In theory they will all be paid off eventually.

guineacup · 29/05/2023 06:48

Aria999 · 29/05/2023 03:02

@mjf981 Allegheny County (Pittsburgh), one of the highest in the country apparently! That includes county and city tax.

The 'assessed value' of the home is around $900k.

Your home is worth $900k and you pay $24k a year in property tax?!

From a U.K. perspective, that's insane! The nearest equivalent in the U.K. is Council Tax, which helps pay for all manner of local services. I pay £2,500 per year on a house worth £800k!

MelonsOnSaleAgain · 29/05/2023 06:48

im a massively long way from mortgage free but I’ll celebrate with you. That must feel amazing. Open some fizz of the beverage of your choice and live it up!!

ChimChimeny · 29/05/2023 06:51

MyYoniSaysNoni · 28/05/2023 23:38

We're mortgage free (inheritance). Very few people know.

If you want to have a quiet celebration could you save your next 6 months of mortgage payments and use it for an amazing holiday? Or buy a beautiful painting, whatever - just do something with it that brings you joy? That way you don't need to advertise to the whole world youve paid it off but you still get to mark it privately.

We're already planning the big holiday to coincide with paying the mortgage off & DD finishing her GCSEs, especially as we can go before the normal summer holiday starts 🤗

thatsn0tmyname · 29/05/2023 07:05

I remember as a child my parents paying off their mortgage. They galloped up and down the hallway saying " we're free, we're free ".

Flopsythebunny · 29/05/2023 07:08

We paid ours off 8 years ago because the critical illness part of my life I insurance paid out when I was diagnosed with an incurable cancer. I'm still hanging on but at least I know that my husband doesn't need to worry about housing costs when I'm gone.
We didn't tell anyone

Mary46 · 29/05/2023 07:22

Well done. I plan keeping it quiet op its later this year. We had tough years too scraping creche and mortgage monies so people forget that. But I cant wait!

Wittsendhasarrived · 29/05/2023 07:24

Of course you can celebrate, it's a huge milestone that virtually every home owner can't wait for.
But what sort of celebration are you looking for that needs to involve other people? This is only a big deal to you and whoever lives in your immediate family and shares the benefit with you. So go out for dinner, go on holiday, buy something extravagant.... There are so many ways to celebrate. But truthfully, this doesn't affect anyone else so what are you expecting from those around you? Tell them by all means and most will be happy for you and give you a passing congratulations but they don't really care that much because why would they? So why do they need to be involved in your celebration? They don't, that would be nothing more than you bragging.
And in terms of conversations about mortgage and rent prices you are not excluded from empathising and it doesn't suddenly become mandatory to announce how great life is for you now your mortgage is paid off I assume? You're still capable of speaking and taking social cues like a normal person right?
I really am not sure I understand the problem.

luckylavender · 29/05/2023 07:27

You can celebrate, privately. No one else needs to know.

BluebellBlueballs · 29/05/2023 07:27

I'd be taking that mortgage money out sake as before and saving it for an amazing holiday before it gets swallowed up in life!

You don't need to shout it from thr rooftops, just enjoy a lovely holiday.

Actually I'd probably be putting the holiday on a credit card go now and and pay it off , but that's just me.