I did it

I have holes in my clothes, I’ve declined attending weddings, I’ve missed out on live entertainment, pub nights, overseas vacations and pricey dinners out... but I did it, my mortgage is paid off. I cut coupons, I collected bottles, I shopped on sale or not at all to stretch my dollars. Took the bus to avoid gas and parking fees. I definitely feel for people who pay high rent in Vancouver without building any equity over time. I now know that when I retire, my government pension cheque will NOT be going to rent. I can relax now and pick up the things that I avoided for so long in order to pay off the bank. I don’t regret skimping all these years because now I have Financial Freedom!

11 Comments

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You aren't unique

Aug 31, 2018 at 5:06pm

Lots of people have a mommy and daddy to help with the down payment. I mean, congrats and all, but it is not as easy as you make it out to be. Cutting expenses when you have the option to do so is not heroic ... already starving and scrimping and stretched to the limit just surviving leaves not room for attempting a mortgage: impossible, in other words. You are fortunate you HAD expenses to cut

27 9Rating: +18

Congratulations!

Aug 31, 2018 at 5:15pm

Good for you! That’s an amazing accomplishment!

17 7Rating: +10

Anonymous

Aug 31, 2018 at 5:41pm

A lot of people talked like you in the summer 1929.

20 9Rating: +11

Hi OP

Aug 31, 2018 at 6:21pm

Outstanding!

John titor

Aug 31, 2018 at 8:18pm

Congrats, I’m green with envy ;)

12 5Rating: +7

That's what you think

Aug 31, 2018 at 8:35pm

It's great that you paid off your mortgage, but you are being naive if you think you're in the free and clear. As we have seen the NDP gov't and city of Vancouver enacting all these new taxes on homeowners, the idea that you will be able to sit back and relax after your mortgage is paid is wishful thinking.

9 11Rating: -2

Yes, But

Sep 1, 2018 at 5:43am

...people don't have to do this in other cities. They can actually have a life while paying off a mortgage. Living in poverty to afford a home is a Vancouver thing.

18 6Rating: +12

Taxes,

Sep 1, 2018 at 9:41am

strata fees, building repairs, etc. You're still going to have to keep up with these expenses. I'm single and think that climate catastrophe is just around the corner so I don't mind renting.

12 5Rating: +7

that's great

Sep 1, 2018 at 11:37am

hope you didn't waste your youth saving for property and old age tho.

7 6Rating: +1

OP

Sep 2, 2018 at 9:23pm

I’ve read the stories of seniors being evicted, and then end up homeless or living in their car. I never want that for myself. I also don’t have to do so much mandatory labour now, because a HUGE expense has been removed. I rented for 6 years and basically gave my landlord $50K. Makes me cringe that I did that. Better to suffer for a bit, cut spending, and get ahead. Theoretically I could sling coffee part time, and I’d be fine. I was broke for a really long time, and It was for a good reason.

2 8Rating: -6

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