1166: Ask Farnoosh: Is it a Good Time to Buy a House? And is it Wise to Pay Down my Mortgage Early?

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.7 • 1.9K Ratings

🗓️ 26 February 2021

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Lots of real estate questions on So Money today. From figuring out whether it's a wise time to buy a home in seller's market and whether or not it's worth it to pay off a mortgage early, Farnoosh tackles listeners' biggest questions. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So money episode 1166, ask Farnoosh.
0:05.0	You're listening to So Money, with award-winning money guru Farnoosh Karabi.
0:10.0	Each day, in a 30-minute dose of financial inspiration from the world's top business minds,
0:15.0	authors, influencers, and from Farnoosh yourself.
0:19.0	Looking for ways to save on gas or double your double coupons?
0:23.0	Sorry, you're in the wrong place.
0:25.0	Seeking profound ways to live a richer, happier life.
0:28.0	Welcome to So Money.
0:31.0	Happy Friday, everybody, and welcome to So Money, I'm Farnoosh Tarabi.
0:35.0	We're going to kick off the show today with answering a very popular question that is so popular,
0:42.0	I just wrote an article about it and called it a day.
0:45.0	And I'm going to share some of that with you.
0:47.0	The question is, maybe you've asked it, should I pay down my mortgage early?
0:52.0	I've had this question myself.
0:54.0	I've actually come to the conclusion that at my life stage, in my 40s,
0:59.0	assuming that I have other financial boxes checked,
1:03.0	that it would not be a bad idea to put a little extra towards my principal.
1:07.0	I don't want to be one of those borrowers that has a mortgage into her late 60s.
1:13.0	That doesn't sound very fun to me.
1:15.0	And I have a 30-year mortgage that I took on last year.
1:18.0	So it's important to me to be somewhat debt-free by 60, and I don't have any other debt.
1:23.0	So it would just be this mortgage.
	...

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