Quote:
Originally Posted by Love2Swim
Depending on the interest rate, you need to look at your break even point. When we bought, ours was 7 years. I was glad we paid it off and saved all that interest. As it turns out we didn't move, but had we after 7 years we would have broken even financially, and, could put the house on the market advertising it as "NO BOND", which is a positive for those who look at total costs when purchasing.
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What math told you breakeven was 7 years?
You can't ignore the time value of money. Money paid today is worth more than money paid in the future. Especially with inflation heading north of 7 percent.
Mortgages/loans are a form of inflation hedge.