Grateful to be mortgage free after so many years on Maui!

By
Real Estate Agent with Hawai'i Life Real Estate Brokers HRE# 58089 - RS

Grateful to be mortgage free after so many years on Maui!

Yes, it really can happen - that mortgage can be paid off and you can own your home completely.  While it seems like 30 years, or even 15 years is such a long time, sooner or later the time passes.  If you've behaved, and not pulled all the equity out of your home, there will be a light at the end of the tunnel.

We probably all start out with a 30 year mortgage since it's the most affordable option when starting out on the home ownership track. Those 30 years stretch out into the future forever, but that's the price to pay for having your own roof over your head, and the security of being your own landlord and never getting an eviction notice.  With time, and some home improvements, things start to look better.  Interest rates fluctuate and sometimes it just makes sense to visit with a mortgage broker again to see if the monthly payments can be minimized.

So along comes a refinance or two, and hopefully with a downsizing into a 15 year plan to pay off that debt.  Always avoid the temptation to use your home as a piggy bank - don't opt for increasing your mortgage amount, even if they promise lower monthly payments!

My Maui home - in Haiku Maui

Keep your eyes on the prize at the end of the long road, and follow these simple tips to reach your goal:

  • never borrow more than you can afford to pay back
  • don't pull out extra equity unless you have a bullet proof plan to pay it back promptly
  • never miss a payment!
  • pay an extra payment whenever you can, it will benefit you hugely in the long run
  • when refinancing, always opt for the shorter pay back term

It's been a year since we made our last mortgage payment on our Maui home, and I can tell you it's a wonderful feeling of FREEDOM.  Each month we can now put those thousands of dollars to much better use... such as fixing up the property!  We are so grateful that we always paid on time, with some extra payments along the way. 

Don't give up on your dream of owning your own home - it will be worth it in the end!

 

Thanks for reading my Maui blog...

Buying or selling real estate on Maui?  That's what I do.  Let me help YOU.

Georgie Hunter R(S) e-Pro, Hawai'i Life Real Estate Brokers
26 Baldwin Ave, Paia HI 96779
E-mail or call/text: 808 283-0635

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Topic:
Lending / Financial
Location:
Hawaii Maui County
Groups:
Mortgages
1st Time Buyers
Seniors Issues
POSITIVE ATTITUDE for the Weary Soul
THE LANGUAGE OF LUXURY
Tags:
house
home ownership
payments
video
on time
grateful
mortgage
refinance
maui home
light at end of tunnel

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Rainmaker
796,641
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Congratulations, that has to be a wonderful feeling, not reached it myself and most likely starting afresh next year with a new purchase. But will one day know what it feels like.

Nov 06, 2019 03:26 PM #1
Rainmaker
1,084,944
Sharon Lee
Sharon Lee's Virtual Assistance - Jonesborough, TN
Retired and loving life

That is indeed a wonderful feeling. Congrats. 

Nov 06, 2019 03:36 PM #2
Rainmaker
3,392,680
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Georgie - congratulations.  With some dedication and good planning there is much to be "earned" through living a mortgage-free life.  And you did on Maui!  That's great.  

Nov 07, 2019 06:24 AM #3
Rainmaker
1,403,907
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Wow Georgie, mortgage free in Maui would certainly be a dream come true.

Nov 07, 2019 07:29 AM #4
Rainmaker
1,501,334
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

Thanks for dropping by and leaving your comments!

Nov 08, 2019 12:41 AM #5
Rainmaker
3,208,147
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Those extra payments can help along the way. That's what we did when we bought our first home. Glad you are now mortgage free and Maui is home sweet home!

Nov 12, 2019 05:13 AM #6
Rainmaker
5,462,635
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Being mortgage free should be a goal for every family.

Thanks for sharing your tips.

Nov 12, 2019 07:15 AM #7
Rainmaker
502,811
Steven Nickens
Elite Pacific Properties Maui - Wailea, HI
R(S)GRI ABR, Maui Real Estate Hawaii

Georgie, good job on paying off your property, I am getting close, and great advise.

Nov 12, 2019 07:48 PM #8
Rainmaker
2,048,182
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Fort Worth, TX
Selling Homes Changing Lives

Having a mortgage paid off is such a good feeling! Congratulations!!! I love this post and I'm happy for you too!

Nov 12, 2019 08:48 PM #9
Rainmaker
4,134,767
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Georgie, this must be such a great feeling of security!   I am getting SO close! 

Nov 15, 2019 12:34 PM #10
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Rainmaker
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Georgie Hunter R(S) 58089

Maui Real Estate sales and lifestyle info
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