Today, I woke up....in a paid off house.

[Grumpy's Gal]

Yesterday, we paid our mortgage off. Today, we woke up for the first time in a house that we paid off.

We had bagels for breakfast and it was pretty uneventful. We haven’t told anyone, and don’t plan to, but all day if I caught my DH’s eye, we just had a little smile. We were with lots of relatives today.

I know from a previous post that tons of you have paid off your mortgages already. I don’t know how I thought I’d feel..... I guess excited. Happy. Relieved.

Did you feel any different?

 

[MamaBelle4]

CONGRATULATIONS!!!

 

[usnuzuloose]

Congrats!! More money for your savings as well! I am sure it is a wonderful feeling....

 

[Southernmiss]

Hoping to know the feeling by our next birthdays in November!! This is our one goal for the year

Congratulations to you!

 

[a1tinkfans]

Congrats

 

[superme80]

Congrats! It is such an amazing feeling!

 

[Neesy228]

Congratulations! It’s a big moment for sure.

It’s kinda fun to have days like that - when you feel like you’re in a secret club and you have the BEST secret!

 

[jevs]

Congratulations!

 

[Disneylover99]

Congratulations!

I don't recall feeling any different when we paid off our house, but a few months later, we noticed the extra money in our bank account, so that was pretty exciting!

 

[ronandannette]

Adding my congratulations to the list - it's an admirable accomplishment; one that generally takes lots and lots of diligence! Good on you!!

Can't wait for our own "special day"! The day after we're listing the house for sale!

 

[Disney1fan2002]

That must be an amazing feeling! I figured out if I double my mortgage payment, my house will be paid off in 8 years. 8 YEARS!!!! At the moment, doubling my mortgage payment would makes things extremely tight, but in about 6 months, I think I can start doing it.

 

[Grumpy's Gal]

Congratulations!

I don't recall feeling any different when we paid off our house, but a few months later, we noticed the extra money in our bank account, so that was pretty exciting!

That’s a good point. I thought I’d feel SO EXCITED and SO SOMETHING, but I didn’t really feel any different. I do think, like you said, in a few months when I can actually SEE a difference in our account, I will really feel it then.

 

[Jillpie]

It is the best feeling in the world. We have been mortgage free for a year now. My big thing was, being able to say "we will never be homeless". If anyone has ever been out of work (which my DH was for 8 mos many years ago), it is the scariest time in your life and you wonder if you'll lose your house if they can't find a job. It is the most incredible realization, that we will never have that fear again. And, yes, the money that is now freed up, will feel fantastic. Congratulations!

 

[Grumpy's Gal]

Congratulations! It’s a big moment for sure.

It’s kinda fun to have days like that - when you feel like you’re in a secret club and you have the BEST secret!

Yes, we have a super busy weekend with family in town for Easter. I’m sure they thought we were sleeping in but we went over to the bank early in the morning and paid it off. Then we met up with family later in the morning. It’s just going to be one of those secrets we keep to ourselves. I wouldn’t feel right telling our family. I know people used to have mortgage burning celebrations but that’s not really anything we’d do.

 

[Grumpy's Gal]

Adding my congratulations to the list - it's an admirable accomplishment; one that generally takes lots and lots of diligence! Good on you!!

Can't wait for our own "special day"! The day after we're listing the house for sale!

Are you serious about listing it for sale? I’m looking forward to living here and not have mortgage payments.

 

[disykat]

Congratulations!

It felt good, still does. I have told a few people, but we're in our 50's and the house is modest, so it's not like it's something super unexpected. Many of our friends who haven't "upgraded" are paying off their homes. The only time it ever comes up is when people are talking about how they're managing helping their kids with college.

We didn't really notice the money because it went straight to tuition. Then when my youngest son graduated I chose to downsize my job to help my parents. Oh well. Having the house paid off has been a terrific means to an end for us, but we're not seeing a windfall of savings.

 

[ronandannette]

Are you serious about listing it for sale? I’m looking forward to living here and not have mortgage payments.

Yep - Lord willing, 14 years (give or take) from now I'll be in my mid-60's and DH will be in his late 70's. That's when I'll be able to finally retire and the proceeds from the house will be a big part of our retirement fund. We plan to move into a nice senior's facility and we'll be happy to do so.

 

[Marchand63]

Felt good but not too excited until we got the discharge paperwork. Then it was

 

[barkley]

Yesterday, we paid our mortgage off. Today, we woke up for the first time in a house that we paid off.

We had bagels for breakfast and it was pretty uneventful. We haven’t told anyone, and don’t plan to, but all day if I caught my DH’s eye, we just had a little smile. We were with lots of relatives today.

I know from a previous post that tons of you have paid off your mortgages already. I don’t know how I thought I’d feel..... I guess excited. Happy. Relieved.

Did you feel any different?

CONGRATULATIONS!!!!

for us it felt very freeing to know that our home is truly OUR home. the following month seeing the difference between what we had been paying for our 'house payment' vs. the much smaller amount we now set aside each month to self pay our property taxes, homeowners and umbrella policy insurance was/continues to be amazing (don't forget to let your insurance company know you've paid it off-and consider speaking to them about your existing coverage, owning a home outright can put a target on your backs in the event of lawsuits b/c you've got a nice big unencumbered asset).

in the few years since we did it we've only told a couple of people-one set of friends in particular b/c we knew they were working towards the same goal but like us really didn't know anyone personally who had achieved it (except older folks who had been in their homes over 30 years). they are getting close to their goal and we cheer them on.

That must be an amazing feeling! I figured out if I double my mortgage payment, my house will be paid off in 8 years. 8 YEARS!!!! At the moment, doubling my mortgage payment would makes things extremely tight, but in about 6 months, I think I can start doing it.

we initially thought it would take us much longer than it did b/c we couldn't afford to put much more towards the principle but then I started playing around with online mortgage calculators and saw the number of months just a hundred or so a month reduced the life of the loan so we started with whatever extra money we could afford (maybe $100 or so), then it became like a game-seeing where we could find money to throw at the principle. if we underspent what we had budgeted for a vacation or Christmas it got thrown at principle, if there was money left over at the end of the month after everything was paid for (including what we continued to put into savings)-it got thrown at it, if we got even a $25 a month raise in income it got thrown at it. it helped that our mortgage was set up at the same credit union as our bank accounts so we could go online at any time and make a payment transfer from any of our accounts.

every little bit helps so don't feel like you have to wait until you can double your payments.

 

[QueenIsabella]

CONGRATULATIONS! That's wonderful news. We hope to do the same thing by this time next year. It would be just one less thing to have to worry about.