The one thing most people forget is... Once you Pay off your Home Mortgage, the Property Tax and Home Owners Insurance, never ends... Usually, that's all included in a persons Mortgage Payment...
October 13, 2020... 9.7 Hollywood Time...
The one thing most people forget is... Once you Pay off your Home Mortgage, the Property Tax and Home Owners Insurance, never ends... Usually, that's all included in a persons Mortgage Payment...
October 13, 2020... 9.7 Hollywood Time...
You are right of course, but on some things we don't have too much influence, like taxes for example. Comparing how much you have to pay in taxes and insurance to mortgage installment I still think that we have to pay off mortgage on house that we live in as soon as it possible. Different thing is with houses that we rent out, sometimes its better to show that we still have that "good" debt for tax purposes, but its subject for another article :D
I have Rental Houses... I'll write off the Costs, which do include insurance and property tax, but it still cost me... I use the Deductions for my Rental Houses, but I use the Standard Deduction for myself...
October 13, 2020... 11.1 Hollywood Time...
Great! Unfortunately, we cannot totally avoid all costs, but I believe those houses pay off themselves and serves you well.
It's best when Rental Houses are Mortgage Free, but that's easier said than done... Something always seems to need repairing... When they move out, they always leave you with plenty of work, to get they ready for the next Tenants...
A person would be better off, building Garden Rooms for Home Owners... Most Back Yards can be Sub-Divided into Garden Rooms... Perhaps a Secret Garden in the Middle... It's nice to own both sides of the Fences...
October 14, 2020... 19.6 Hollywood Time...