Around 30% of Aussies own their own home outright, while the rest take somewhere between 25 to 30 years to do this.
The thought of taking 25 to 30 years to pay off my own home is frustrating, Which is why I have created this video which explains 5 different ideas you can use to pay off your home faster:
1. Make principle and Interest repayments.
2. Use the increase in rent to pay off debt faster.
3. Use the tax benefits you receive from the property to pay off the debt faster. And if you were to spend a bit of cash to get there quicker:
4. Purchase another property (a partner property) and in 10 – 15 years’ time sell it, using the gains that you have made on the property to pay off your home loan faster.
5. Commit to paying an extra $100 – $200 per week off your home loan for the next 15 years.
These simple ideas can save you years on your home loan and help create choices in your life sooner.
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