本文发表在 rolia.net 枫下论坛The faster you pay off your mortgage the less interests paid, therefore, the lower the cost.
No bank, or nobody, would lend you money for nothing.
I guess WINS meant that the addtional $20K could be saved if you do not pre pay the mortgage. Some people may select to invest if they could have a higher ROI.
Many of my friends try their best to pre pay as much as possible in their mortgage (double pay, 15/15 or 20/20 prepayment). Some of them are really successful in doing that.
I always consider those prepayment amounts as savings rather than cost
.
But it is so obvious that they have to compromise a little bit if their daily life. No luxuary dinners out, no Cruise vacations, no fancy furnitures for years.
I think we Chinese families are mostly living in this way. We're happy because we know we're building our wealth ultimately
I do see Canadians living in a more casual way. They don't care the mortgage payment. They just let it go for 25 years. They don't bother the prepayments. They drinks a lot in homes and bars. Fancy stuffs everywhere, long, romantic vacations, new cars, boats....
And most important of all, they're happy too. They do not complain.
Lifestyle. If you choose yours and like it, no complain. If not, change to another.
Just because they like their lifestyles.更多精彩文章及讨论，请光临枫下论坛 rolia.net
No bank, or nobody, would lend you money for nothing.
I guess WINS meant that the addtional $20K could be saved if you do not pre pay the mortgage. Some people may select to invest if they could have a higher ROI.
Many of my friends try their best to pre pay as much as possible in their mortgage (double pay, 15/15 or 20/20 prepayment). Some of them are really successful in doing that.
I always consider those prepayment amounts as savings rather than cost
.
But it is so obvious that they have to compromise a little bit if their daily life. No luxuary dinners out, no Cruise vacations, no fancy furnitures for years.
I think we Chinese families are mostly living in this way. We're happy because we know we're building our wealth ultimately
I do see Canadians living in a more casual way. They don't care the mortgage payment. They just let it go for 25 years. They don't bother the prepayments. They drinks a lot in homes and bars. Fancy stuffs everywhere, long, romantic vacations, new cars, boats....
And most important of all, they're happy too. They do not complain.
Lifestyle. If you choose yours and like it, no complain. If not, change to another.
Just because they like their lifestyles.更多精彩文章及讨论，请光临枫下论坛 rolia.net