Quote:
Originally Posted by Camaro fanboy
not so here in sweden. property tax is almost nothing and taken at source.
best thing we ever did was to pay off the house. we save about 5000 usd each month.
whatever happens in the economy we're 99% safe. wife is a specialist nurse and will never be out of work
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We aren't Sweden. I have 3 pieces of property, two of which have a mortgage.
For my primary residence, 37% of my mortgage is insurance and property tax. For my rental property, it's 51%.
Debt is just a tool, use it right and it helps you. Use it wrong and it hurts you. I recall your interest rates were much higher than ours, but it would cost me roughly $5k a year to pay off my mortgage with no significant change in cash flow. My peace of mind comes from a combination of a safe job and over a year of expenses in very liquid accounts.