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Honored Contributor
Posts: 23,835
Registered: ‎03-10-2010

Just paid off our home today

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It is a good feeling after making payments for  26 years.  Property taxes are very high in Washington State where I live as is the cost of living....that is the only bummer.  We  pay about $5000 a year in property taxes and they have  been steadily rising every year.  Our house is modest and was built in 1981.  Probably why many retirees move away from this area... the property tax rate.  We are not sure what we plan to do, but for now we plan to stay put. 

Honored Contributor
Posts: 12,702
Registered: ‎08-22-2013

Re: Just paid off our home today

Congratulations.

Honored Contributor
Posts: 30,238
Registered: ‎03-12-2010

Re: Just paid off our home today

Good for  you.  We paid off our house years ago.  Not a lot of people do it.  It's a good feeling.

Honored Contributor
Posts: 30,916
Registered: ‎05-10-2010

Re: Just paid off our home today

There's no better feeling than making that last mortgage payment.  But I had to smile at the idea that $5000 a year in property tax is high.  Depends on where you live and the value of your home.  I would have thought I died and went to heaven if I got a $5000 property tax bill.  The property taxes on our condo are higher than that but don't get me started, our condo fees just went up.  

Honored Contributor
Posts: 35,600
Registered: ‎05-22-2016

Re: Just paid off our home today

Congrats @SeaMaidenWoman Happy. Feels good, doesn't it? I paid mine off years ago and it was such a relief.

Honored Contributor
Posts: 20,160
Registered: ‎10-04-2010

Re: Just paid off our home today

Congrats!!! Woman Very Happy

Respected Contributor
Posts: 4,665
Registered: ‎03-10-2010

Re: Just paid off our home today

@SeaMaiden  How great for you!  We must have bought our places around the same time.  Mine was August of 1991.  I refinanced twice when rates dropped, so mine will be paid off in less than 1-1/2 years.  I won't like having to fork over that tax money myself, though.

Laura loves cats!
Honored Contributor
Posts: 20,648
Registered: ‎03-09-2010

Re: Just paid off our home today

Congrats!!   Seriously, that is a HUGE deal.  I hope you are going to celebrate.  

 

Yeah, still with the taxes and insurance but at least you have full equity and it will be a lot less per month to pay to keep those going.

 

I'd like to see us pay ours off.  We only owe just over $90,000 at this point.  There are some things that my husband doesn't understand that keeps him wanting to just pay.  For a while I paid extra, though.    

 

I have a bunch of cash saved, aside from our 401Ks, and have thought about putting it up against that total.  It would make a huge dent.   But I'm really saving it in case he dies, since I cannot support myself anymore.   I think I'll just keep saving.  Smiley Happy

 

Anyway - party on!!   Smiley Very Happy

Honored Contributor
Posts: 25,929
Registered: ‎03-09-2010

Re: Just paid off our home today

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Congratulations. I hope your going to celebrate. We had a few friends over and had champagne then burned the mortgage papers in our grill.

Honored Contributor
Posts: 15,519
Registered: ‎09-01-2010

Re: Just paid off our home today

I am in southern WV, and just mailed my check today to pay our personal and property taxes for the full year---under $1,000.   Absolutely no complaints.