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I constantly argue that rather then payoff a 3% or 4% mortgage that you should invest the money and keep the mortgage. My reasoning, you can earn more over the long term in the stock market, over 30 years a mortgage payment gets easier and easier because of inflation and income increases. Also, if you lose your source of income, the money you have put into the market is available to pay for food, electric. insurance and your mortgage, where if you paid off your home, the bank is unlikely to give you your money back, since you don't have a job. So what did I do, I paid cash for my house 28 years ago. What was I thinking?
I paid off my 30 year in 11 years and absolutely no regrets. But I also invested during that time, I didn't think of it as an 'either/or' proposition, did both at the same time. Nothing beats having minimal living expenses, property tax in my area is around $175/month. About 1/10th of market rent.
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