RE: What a ride it’s been - Mortgage free? or continue to be…22 Jul 2025 09:28
It's always fascinated me, this British obsession with property.
I myself was influenced but 15 years ago, i sold and rented.
My friends said i was crazy and all the old sayings came out.
You are paying someone else's mortgage, money down the drain et al.
Well, the £195000 after paying off my mortgage I invested is now worth £4.5 million.
So, the rent i pay is £12000 a year and the return, well my average on Rolls-Royce is 98p.
So, even with a very Balanced investment of Capital Growth and Dividends reinvested, I'd look at 10% a year.
That's £460k.
Why would I give up that Capital and Income growth in order to own a house?
By the way, the house i sold fir £215k in 2010, is now worth £345k.
So a gain of £130k in property value and ok, no mortgage or rent of £1k a month and £4.5 million and growing exponentially.
To me, it's not a difficult decision but for many a friend, it is.