On Friday we got the yearly statement from our mortgage company and it was a cause for quiet celebration. In 9 months I’ll make the last payment on our little abode. Yes, we’ll own our home – but not the land which we lease. 19 years ago it seemed like a good idea not to add the price of the land to the mortgage so we’ve continued to pay (not much) for the privilege of being able to keep the house on land owned by the government. Never thought much about it until now.
The buyout will be the next step and then we’ll really be able to enjoy the thought that we won’t have to pay another penny for the luxury of having a roof over your head. Of course, this doesn’t take into account taxes, utilities, insurance, upkeep, etc.