Live cheaply and pay off the mortgage early
ฝัง
- เผยแพร่เมื่อ 5 ต.ค. 2024
- Welcome friends, today I am sitting down with you to chat about how we paid off our mortgage early. This is part one of the story, so please get a cup of tea and somewhere comfy to sit, it's a chatty one :-)
Thanks so much for watching x
Please like and subscribe :-)
Keen to see more about ways we travel, invest and live..... you can check it out here: nzmoneykarma.s...
![โรงเรียนตอนตี 2 โคตรหลอน..!! [โรงเรียนไดเม่]](http://i.ytimg.com/vi/2MAEMwqVYh8/mqdefault.jpg)
Thanks for sharing😊. 24 yrs ago when we bought our first home it was ment to be a flip but we ended up living there until we sold a year ago to pay of debt. So here we are in our 50s getting rid off debt by buying a dump the was not livable but had good bones and living in the barn while doing up the house.(tents up in barn for bedrooms, caravan for somewhere nice to sit, we had power put in the barn, our neighbours gave us an old fireplace which we put in, and we had the old stove out off the house put in). My husband is a builder, he took 6 months off work, however due to circumstances it took 1yr and though not completely finished we are in the house and happy to have no mortgage. We had lived in Auckland and had to buy outside of Auckland to do this.
Congratulations on thinking outside the box to get where you needed to be! Living differently has given you such a lot of freedom. Being willing to make a change in the area you live is awesome too, I think sometimes folks get nervous about that- I think it's a great strategy!
I’m binge watching. You did a great series on this. House flipping is difficult but rewarding. Wonderful job on this. ❤
Thanks so much- yes was super stressful at the time but a rea high when you sell 🙂 Tough day at work today.......I'm thinking of getting back into it! Haha!!
Great video thankyou for that. Looking forward to watching the others. We live in Melb Aus, family of 5 and paid our mortgage off a few months ago and wow it feels amazing getting paid and keeping it all. We have just purchased a full turnkey house and land package as an investment. We save on stamp duty that way and hopefully we'll be able to start building an investment portfolio and build some great generational wealth😊
That is awesome! Congratulations!! Yes, I agree generational wealth is a goal here as well- I'd love to get to a point where no one in my family ever has to borrow from a bank to buy a house :-) Thanks for taking time to comment too :-)
@nzmoneykarma Amen to generational wealth for us all
I have been searching for this kind of NZ-specific content so it was lovely to find you!
13 houses in 2 years with a baby and a toddler - that's some Wonder Woman act!
Now I'm off to find your other videos, ka kite anō 😊
Kia ora, lovely to have you along and so glad to hear this resonates with you. It was such a manic time in our lives, we were very lucky to get a really good team of tradies around us that often went the extra mile with us as we were working into the night to get stuff done. Can I ask how you came across my channel? Mihi
@nzmoneykarma I was searching TH-cam with phrases such as "New Zealand mortgage journey/mortgage payoff/mortgage story" etc.
@@libbykat3958 Thanks for that! I'm still trying to crack the TH-cam algorhythm nut :-)
Here catching up on videos ❤❤❤ great video😊
Welcome back! Hey, how is everything with you? I'm soooo behind in doing anything it's just been work, work, work for me! This time last year we were getting ready for a month in sunny Sydney!
Thanks so much for sharing, it's a lonely journey paying off the mortgage, not via online but in your social circle, the house flipping is something we've often talked about but like you mentioned at the end the margins just don't feel like they are there in many NZ house prices now, especially when I look at a run down neighbors home selling for over 635k and price of renovation materials now ( we just renovated our downstairs ourselves minue carpet and electrical we called in the professionals and cost were insane) we are on the tail end of our mortgage now, started in 2018, sold in the peak of the market in rolleston and downsized mortgage upsized home size in a town abit over - cuting mortgage in half, not long to go now, I can taste the freedom haha 😂 look forward to the coming videos on this subject
Congratulations on your journey! You're right- it is lonely- it seems so counter cultural now to rid yourself of the debt that I found that people thought us strange for wanting to :-). You're right about house prices now- for e the risk is too great to flip because the safety net of being able to use as a rental if does not sell.. at these prices the rental numbers don't stack up as it's about a 2% return.
Here's the link to part 2 🙂