This might be duh for some people, but if you’re like me and considering a mortgage; at today’s rates in the US at around 5-6%, over 30yr mortgage you will pay about same in interest as you will for your house price.
Your $500k house will cost you around $1M total over thirty years.
I was surprised.
Yeah that looks like it. The largest expenses I have is housing and tax which are like 5x everything else combined. Housing would be gone if the mortgage is paid off, though a lot of the tax remains as only income tax would be reduced by working less and the other taxes all remain the same.