Freedom: is having no loans?

October 24, 2014

mortgage

Can you imagine there used to be a time when you didn't have to take out a loan to buy a house? You just found yourself a piece of land you liked. And then you build a house on it. From trees you cut down with your own bare hands. Or maybe with the help of an axe.

Who has the money to buy a home ?

When I think about this, I think about pa Ingalls in The Little House on the Prairie! I used to love that show. Their house was small, but they were all so happy. And they didn't have a mortgage weighing them down.

In 2010 the average house price in the USA was a whopping $272,900. I don't think there are many people out there who can fork over that many money. And that's where a home loan comes in. A mortgage. For example, people embrace home loans Rhode Island. And of course there are many more mortgage lenders out there.

It's hard not to have loans

Nowadays it's hard nót to get into debt. If only to get a good education. Student loans are almost a fact of life. Unless you come from filthy ritch parents. As most people, my husband and I have a mortgage too. We love our home in the country. But sometimes I dream about Pa Ingalls. And his wooden home without any mortgage... And I wonder: isn't that real freedom? Not to be encumbered by debt?

A tiny house

Some people have found a solution. They buy a tiny house. They get rid of all their clutter. And they choose to live a more simple life. I have to say, it sounds lovely. But with five kids, I'm not sure it would work for us.

But a girl can dream!

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11 comments

  1. I love the tiny house idea. Many of my friends have done up Buses to live in with there 9-10 children. We have 7 children, and my husband is constantly looking to travelling family home for us. Not sure how well it work, but he can dream at the moment. :)

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    1. Oh, I love the sound of that! I can see where you husband is coming from.

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  2. I kind of imagine my husband and I will never own our own home, and I suppose I'm okay with that! I do like the freedom of not being in debt! It's still possible, though, to work your way through college (even without the rich parents)...you just have to make it a priority....and probably go to the cheapest college you can!

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    1. I didn't know it was still possible to go through college without getting into debt! That's great!

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  3. Debt is no fun! Sometimes I wonder if houses are so expensive these days partly because of mortgages and have often thought about trying to be mortgage free. But then I realize what the tax implications of that would be. Is it just me or are people encouraged to have debt these days?

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    1. I think so too. I suppose debts and mortgages are a booming business.

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  4. Our #1 dream is to be mortgage free. Times are extremely tight for us, but we do funnel every extra penny to the mortgage to get it paid down. Even with an excellent interest rate, the interest we pay negates any tax advantages. We would have much more breathing room if we didn't have a mortgage payment. I can't wait! Thanks for the post. ~Heather @ My Overflowing Cup

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    1. Me and my husband have talked about paying our mortgage down too. But because we've got five kids waiting to go to collega, we've decided to save instead.

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  5. Haha the photo got me, I used to have a crush when I was a kid. I doubt my husband and I will ever own, its much easier for us renting, puts the big maintenance on the landlords., But I agree small house, small yard is a great option especially for a couple as we are empty nesters. Thanks for the article shared on Friday Feature Linky Party this week. Stop by anytime. Have a great weeked!

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    1. Yes, isn't a great picture? I like Michael Landon too!

      Renting sounds good to me. Like you say, someone else is responsible for maintenance.

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  6. I love tiny houses! But I'm with you, I don't think I could actually make that work for my family. Now a tiny mortgage on the other hand, that would work! (Found you on Say G'day Saturday)

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