My husband and I got married this year and are expecting our first child in March 2024. Prior to us marrying I bought my first home, which is currently an investment property that I have $160,000 remaining on the loan (the property is worth about $390,000). With my current mortgage and rental income the house pays for itself but does not earn money. The home has good bones and is in an area with a lot of growth.
My husband wants this to be my thing and for me to pay it off on my own - given that we are expecting a child and plan to have more I predict it would take 10 years for me to pay this off on my own (I predict i won't be returning to full time work for atleast 10 years).
My question is, should I keep the house and let it pay itself off on 10 years (even though this would cost us lots in interest), or should I sell it and purchase another house that I would have zero or minimal mortgage on that would make me money? Or third option should my husband pay off my remaining mortgage?
My husband has no debt and about $500,000 in cash.