Mortgage free by 2021?!

hiddenshadow

Grr. Can't sleep (stupid cat brought in a mouse at 5am so now I'm awake :mad:).

Updating bank balances for the 1st of the month. Mortgage payment's gone out, but interest hasn't been applied so I don't have an updated balance yet. Come on, bank!

hiddenshadow

Phoned up FD again and found out the interest won't be charged until tomorrow, but at least I got the amount (£603.03 :eek:) so I can update spreadsheets!

£214.39 OP from all the budget savings/tidying in September. :j

Current balance: £165,972.07
Month we’d be in to get to our current balance without OPs: November 2017

2015 Overpayments: £10,242.64
2015 Interest Saved: £8,317.87

Total Overpayments: £22,262.42
Total Interest Saved: £25,563.89

Daily Interest: £19.16 (down £0.45)
Monthly Interest: £594.05 (down £8.98)

I got to fill in another house brick! I showed DH my house and he laughed and said I should have done one for every physical brick on our house - told him it took enough time figuring out how to represent 198k worth of bricks in a house shape to begin with!

Sundaysgirl

Woo! How did you do the house - is it just a filled area on a s/sheet? I feel like it's not really worth doing things like this on the current mortgage now, but will need every ounce of motivation I can get on the new whopper if/when it starts!

Sundaysgirl

I can't really add anything re the solar panels, but my initial (albeit very superficial ) response was - will it deter buyers due to the visual impact? I think I personally would be put off, a roof covered in solar panels is not to everyone's taste so you may want to consider that you may even lose value or narrow your potential market. Just my thoughts.

hiddenshadow

Yeah, I figured out how many rows/columns that 198k would represent (rounded our original balance up for a nice round number) and then made it look like our house (if you squint really hard ).

I've been filling it in with the dates that those bricks get paid off - tempted to change it up to be a rainbow house and have each year in a different background colour so that our momentum (once we start big OPs in 2016) is really obvious, but haven't [STRIKE]figured out what colours I want[/STRIKE] pulled the trigger yet.

DH was laughing about it but I told him we own from the top of our upstairs bedroom window up, so that's not too bad for 2 years in (on a 25-year mortgage). If we can make all our big OPs next year we'll own the entire upstairs windows, too!

shangaijimmy

hiddenshadow wrote: »

I got to fill in another house brick! I showed DH my house and he laughed and said I should have done one for every physical brick on our house - told him it took enough time figuring out how to represent 198k worth of bricks in a house shape to begin with!

Love it. I get called all kinds by Mrs SJ (in the nerd ballpark)!

hiddenshadow

Sundaysgirl wrote: »

I can't really add anything re the solar panels, but my initial (albeit very superficial ) response was - will it deter buyers due to the visual impact? I think I personally would be put off, a roof covered in solar panels is not to everyone's taste so you may want to consider that you may even lose value or narrow your potential market. Just my thoughts.

Thanks! I think we're leaning against solar panels, for the reasons you mentioned and because it's not a clear win financially. Need to get quotes to replace our central heating as I think that will have a large impact on our gas bills and be much more suited to selling the property (if someone objects to our warm air heating they'd do so for a new or an old system, but if they don't they'll appreciate having a new one!). Much as I'd like to have the environmental win, I think that's best left to our forever home (and hopefully the technology is even more amazing/efficient then!).

hiddenshadow

shangaijimmy wrote: »

Love it. I get called all kinds by Mrs SJ (in the nerd ballpark)!

DH is a nerd as well, but definitely not in the financial realm. More into movies/comics/games/books. I think my nerd-dom "wins" in that it will give him more money to buy his nerd-dom things down the line.

hiddenshadow

I'm digging the rainbow colours.

Sundaysgirl

hiddenshadow wrote: »

Yeah, I figured out how many rows/columns that 198k would represent (rounded our original balance up for a nice round number) and then made it look like our house (if you squint really hard ).

https://drive.google.com/file/d/0BwfsgiD4b9iQNU5hclVsdnFxeEU/view?usp=sharing (hoping that link will work!)

I've been filling it in with the dates that those bricks get paid off - tempted to change it up to be a rainbow house and have each year in a different background colour so that our momentum (once we start big OPs in 2016) is really obvious, but haven't [STRIKE]figured out what colours I want[/STRIKE] pulled the trigger yet.

DH was laughing about it but I told him we own from the top of our upstairs bedroom window up, so that's not too bad for 2 years in (on a 25-year mortgage). If we can make all our big OPs next year we'll own the entire upstairs windows, too!

Awesome - I need one of these!!