We paid off our bond. We calculated the break-even point to be about seven years (YMMV). We felt we would be in this house long enough that we would save money by not paying 8+ years of interest.
Some would argue that with a 3% interest rate you will be better off by investing the money. That's a good theory and sometimes it works to your advantage. However, if we had invested that $18,000 we would have something like $14,000 today and still have a bond payment due. Given what we are seeing today, we are happy with the choice we made.
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Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works.
Confirmation bias is real; I can find any number of articles that say so.
Victor, NY
Randallstown, MD
Yakima, WA
Stevensville, MD
Village of Hillsborough
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