It's Mine!

[Zippyjuan]

Personal finance milestone.

Just sent in the final mortgage payment. Now I am completely debt free. Paid it off early- 30 year mortgage done in less than 15. I could have done a 15 year but payments would have been tighter on the budget which would have been a problem if any financial crisis arose (which it did when my company went on strike for five months- I was able to keep up with my payments during the whole time) and pay extra when I was able to. My costs of living are now incredibly cheap. Including property taxes and homeowners fees (condo) I can now live on less than $1000 a month if I have to. Prices of similar units are still about 50% higher than what I paid too. This is part of my retirement plan- keep the expenses as low as possible and you can live comfortably on less money. Same effect as having large amounts of savings (wouldn't call my savings huge but I have adequate money there too for now and can put more money there now too).

[Occam's Banana]

Congratulations! (me: envious)

[amy31416]

Congrats! Plant a garden and you'll bring that 1k figure down a bit, I'd imagine. Save some money up for a really efficient fireplace (if you don't have one) and you'll be even better off.

[Zippyjuan]

I am lucky enough to live in a moderate climate where I don't have to worry much about heating or cooling- a mile from the California coast. There is radiant heat in the ceiling which I have never used (never officiallly hits 32 degrees even in winter- "cold" weather means wearing long pants instead of shorts- not at all like Colorado winters where I grew up where yes I did walk two miles to school in two feet of snow and below zero temperatures) and in summer fans are enough to keep cool on most days. My utility bill runs about $35 a month year round. Work and the grocery store are easy walking distance so I don't need or have a car (no gas, insurance payments).

[Origanalist]

Congrats Zippyjuan. Now as long as California doesn't tumble into the sea or the government turn all out totalitarian and confiscate it you're lookin' good.

[donnay]

Congrats Zippy. Just make sure you pay your dreaded property tax--or they'll show you how fast the property is theirs!

[CT4Liberty]

Very cool - congrats, I paid it off last year... before you say "its mine" remember that failure to pay property tax can land you in jail and homeless... so technically its the states, they just will rent it to you for the price of the property tax....

[Athan]

Congrats Zippyjuan. Now as long as California doesn't tumble into the sea or the government turn all out totalitarian and confiscate it you're lookin' good.

Was that sarcasm? lol

[torchbearer]

Congrats!
But if you are paying property taxes, its not yours. Its the Kings property.
Stop paying him his tax/rent, and he'll send his shire reeve to remove you.
Congrats!

[woodrow]

Congrats man!

Now sell it to a sucker and move down here to Texas. There's plenty of room.