Joedreck
2022-02-03 05:44:57
- #1
Let's assume we consistently pay off around 10k every year, then after 10 years there would be about 70k left, maybe a little less. Sure, it's a low amount that can easily be covered even with higher interest rates.
However, with the 17-year option, we wouldn't feel pressured to make the extra repayments. If a bigger purchase comes up (car, family trip abroad), we could simply skip the extra repayment and have planning security for the entire 17 years. We're not getting any younger either (both 40), so we want to be done at the latest after the 17 years.
Any other opinions?
In my opinion, the thing with the car contradicts the statement that you definitely want to contribute at least 10k per year in extra repayments. So that would only work if you don't suddenly need a new car, a vacation, a garden shed, etc.? Then definitely calculate without the extra repayment.
I would still choose the 10-year option and add the interest savings to the repayment. With a constant house value, the remaining debt of 170k is ridiculous. And my crystal ball says that due to the European and international situation, interest rates won't reach 6-8% again.