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.
Look at the terms of your loan and your average return on your portfolio before blindly paying your mortgage early. If you manage to refinance at a good interest rate, you can often make more money on the market than you save on your mortgage. If I applied the balance of my savings to my principal today, I would lose significantly more interest from my investments than I’ll pay in interest to my bank over the life of my loan.