Everyone knows that I have a mortgage, it’s not surprise. However, even though many are extremely against debt of any kind, a home loan has definitely been helpful in my life. Without a mortgage, I wouldn’t have been able to have a place of my own.

There are many positives and negatives for having a mortgage. Of course it’s a little bit more where I live (just a tad more), maintenance problems, but you also can eventually own your place one day!

The only major downside of having a mortgage for me is that I don’t feel like I can freely pick up, move and/or travel, since I do have to pay my mortgage every month. But that’s just a responsibility that comes with life. Hopefully one day I can own a house and travel for extensive amounts of time.

Houses where I live are MUCH cheaper than other areas of the country and in the world. Gotta love the Midwest for that! Apartments are around the same amount as well, which is what made me want a house. Why spend money on a $900 apartment, when at $969, I could own my house that has a backyard and much more room?

Having my own place where I don’t have to deal with someone else (yes, yes, I realize I do have roommates, so I am still “dealing” with other people) is also another plus in my books. However, of course it would be nice to just brush any maintenance problem off on the landlord if there was one.

In the end, having a mortgage isn’t all that bad (for me at least). I need a place to live and I have a not so high interest rate. I do plan on paying off my house within the next 5 years though (nearly 20-23 years ahead of schedule!).

What are positives and negatives of home ownership for you?


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