To rid or not to rid – that is the question

We are considering getting rid of our mortgage. Essentially, getting rid of all our debt.

It’s a big call, but it’s something my wife and I have discussed. And it is an important question that does need to be considered. We started thinking about it because of two main reasons:

1. We, many times, feel overburdened by our large mortgage and feel that it is stopping us from living and enjoying life.
2. We are a bit nervous about the real estate market in Australia.

Having said that, however, we do realise that there is one point we cannot escape from:

1. We have to live somewhere.

So when you add that up, we pretty much have these options:

1. Sell, then rent
2. Sell, then buy cheaper

If anyone has any thoughts on this or wants to share their experience, we’d love to hear what you have to say. As mentioned in my previous post, we are going to be doing research and asking financial advisors. We are at the beginning of our journey so we need as much advice as possible.

Day 109: $461,605.58 in debt.