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Is it worth it to pay off a home mortgage loan on a starter home?

Hello everyone,

I’m looking to buy a home as a starter home. I grew up in humble beginnings so this is a big deal to me. I have a good job but unfortunately not enough to get me a decent home in the area. It does qualify me for a decent townhome which I’m looking at as a starter home.

I’m projecting the townhome to gain a value of $100k every 4 years simply due to the area and sold history. I’m also projecting my personal income to increase in the next 10 years by at least $50,000 more yearly, which means I’ll have lots of income to save and potentially give higher payments on my mortgage.

But, I’m thinking, since it’s a starter home, and I want to resell it in possibly 10 more years, is it better that I save that money for a future down payment on my dream home or is it better that I pay off my mortgage faster?

submitted by /u/confleiss
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source https://www.reddit.com/r/RealEstate/comments/jlaz16/is_it_worth_it_to_pay_off_a_home_mortgage_loan_on/
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