Mortgage free in early 30s – couple recall what ‘really helped’ to repay mortgage early | Personal Finance | Finance

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Becoming mortgage free early won’t be feasible for everyone, with everyday living costs and unexpected outgoings to consider. However, while it may seem somewhat of a challenge, some have managed to pay off their mortgage earlier than they expected.

It’s something which some homeowners have discussed online, on Reddit.

A Reddit user asked: “Question: How does it feel to have paid off your mortgage and be mortgage free?”

The thread, which was posted a year ago and is now archived, went on to garner more than 150 comments.

Included in those commenting was someone who explained they and their partner had become mortgage free in their early 30s.

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“Some people think we’ve done life wrong to have our mortgage paid off in our low 30s, but I don’t,” they penned.

“We do have relatively well paid jobs for our area, but nothing too special.

“I think what did it was being in a position to buy a house in our early 20s, we’ve since moved somewhere bigger but not really paying rent for years (and also being happy to move in together at a young age) really helped.”

The Reddit user went on to recall how while they were careful with cash, they didn’t miss out on various experiences.

“We’re very sensible with money, by spending a little time researching the best value options, but have never let it stop us doing anything – we were going on two (UK) holidays a year and have a child,” they wrote.

“Knowing we only have maintenance and bills (likely less than 10 percent of our income) to have somewhere to live is great.”

Another person explained they are also in their 30s, and mortgage free.

They penned: “I’m in my early 30s, and I have to say it feels brilliant – I could have been better off with different investments, but this way I just feel like I have a lot more flexibility, and like I’m less chained to my work.

“My happiness doesn’t really come from buying things, so I’m aiming to mostly retire in five years, and just work when I actually need to.”

Another person shared: “It feels OKish. Don’t get me wrong I’m very fortunate to be in a position where I got rid of the mortgage on the house but I was in a good financial position when I bought the house.

“I had a huge deposit saved so the mortgage payments each month were a noticeable chunk of my salary but not enough to make things tight.

“In short the mortgage didn’t feel that much of a weight in the first place for me.

“Feels great having all my income go to me. The rest of my bills for gas, water, electric, internet barely touch £300 a month.

“On the other hand I still work five days a week doing a consulting job so I’m not really living the full benefit of it.

“I’m only 30 so I’m not intending to slacken off career wise until I reach 40.

“Unfortunately the council doesn’t also relieve you of the council tax when the mortgage is paid off!”





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