An option for me to buy a house has come up very suddenly and it seemed like a good idea at first - but I look at a mortgage and think “that’s 15 years I’ll spend paying back, at absolute minimum. Probably more like 25 years” - how can I possibly plan that far in advance?
So, how did you feel about getting a mortgage and seeing such a serious commitment stretch so far into the future? I’m mainly talking about the emotional side of things rather than financial
It was a no-brainer for me. I’ve got to live somewhere in either case so instead of paying rent I could just aswell use that money to pay off my mortage (in reality I’m paying less).
In general my attitude towards loans is that if you can’t pay cash then you can’t afford it but house is obviously an exception as no one has that kind of money saved up.
Haven’t regreted a day.