Well, you need cashflow on a house in general. Even with a paid-off mortgage, I'...

sokoloff · 2024-10-30T17:58:02 1730311082

Property tax alone is around $13K/yr for me. Insurance is another couple grand. Only after that comes wear and tear and maintenance items.

herf · 2024-10-30T18:19:28 1730312368

If you pay cash for a house and put 60% more in an annuity, you cover the total costs. Not cheap though.

ghaff · 2024-10-30T18:34:37 1730313277

The point is that, however you finance it, owning a paid-for place will often have significant ongoing costs. Some more, some less.

phonon · 2024-10-30T19:01:37 1730314897

Why would you forgo the mortgage interest tax deduction?

sgerenser · 2024-10-30T23:21:41 1730330501

2025 standard deduction is $30k for MFJ. Ain’t many people passing that mark these days in itemized deductions so the mortgage interest deduction is moot.

ghaff · 2024-10-30T19:05:49 1730315149

For modestly-priced houses at least may not hit deductions these days.