If all goes according to plan, I should be completely out of debt by June 2013.
That’s just a year away, and I’m confident I can beat that.
But I think the sad reality is that I’m not going to be debt free for long. The lure of owning a home is strong now, and will only get stronger as I start saving for a 20% down payment.
I do want to own a home. I want to buy a house and live in it forever. Or buy a house that’s been cut up and rent parts of it out and pay less on a mortgage than I’m expecting.
House prices in my area aren’t super high, but they are around $400-500K for a multi-unit property.
Since it’ll be a long time before I have that much cash, a mortgage is inevitable.
So, the reality is, though the road to becoming debt free is long and boring, I think that the length of time I remain debt free will be short.
And that’s all part of growing up.