[ghaff]

Well, you need cashflow on a house in general. Even with a paid-off mortgage, I'm easily $10K/year and probably closer to $20K if I'm not pushing various stuff off.

[sokoloff]

Property tax alone is around $13K/yr for me. Insurance is another couple grand. Only after that comes wear and tear and maintenance items.

[herf]

If you pay cash for a house and put 60% more in an annuity, you cover the total costs. Not cheap though.

[ghaff]

The point is that, however you finance it, owning a paid-for place will often have significant ongoing costs. Some more, some less.

[phonon]

Why would you forgo the mortgage interest tax deduction?

[sgerenser]

2025 standard deduction is $30k for MFJ. Ain’t many people passing that mark these days in itemized deductions so the mortgage interest deduction is moot.

[ghaff]

For modestly-priced houses at least may not hit deductions these days.