By the way, a not insignificant factor in the calculation is whether children are involved and whether you plan to leave something to them... or not. It is not uncommon for today's generation of retirees to say "My children don't inherit anything, I blow everything down to the last cent..."
I certainly do not claim to have paid off the house here in 10 or 15 years, by foregoing any luxury and living exclusively on tap water and dry bread. But I will certainly not leave my children a ruin that I have not paid off at the tender age of 70 or 75, let alone set aside reserves for renovations.
That is why it was clear from the outset that we would rather forgo unnecessary frills and not push all the controls to the max when it comes to the loan...