Homeowner Traditions

You've paid off your mortgage. Now what?

Burning Your Mortgage Papers

Paying off your mortgage is a huge personal and financial milestone that brings a profound sense of financial security. Whether you are a residential homeowner, a property manager, or a real estate investor, achieving this milestone is a testament to your financial stability.

When you don’t have a monthly mortgage payment, you can allocate those funds toward other investments, savings, home improvements, or maintenance, which can help increase the property value.

The sense of liberation and pride that comes with making your final mortgage payment has given rise to the tradition of burning mortgage papers. This act symbolizes the end of the mortgage journey and the beginning of true home ownership.

Would you burn your mortgage papers? Watch this video to learn the origins of the word “housewarming.”

Paying off your mortgage is a huge accomplishment! It’s no wonder that many traditions have arisen to demonstrate or commemorate the paying off of one’s mortgage.

Celebrating True Home Ownership

As property managers, we understand the value of home ownership!

Being mortgage-free gives homeowners an advantage when dealing with potential buyers or tenants because it allows them to wait for a good offer without the pressure of a mortgage payment. By taking desperation out of the equation, as a mortgage-free homeowner, you can negotiate from a position of financial strength.

Watch this video to learn about some interesting ways to celebrate that final mortgage payment.

Celebrating True Home Ownership

As property managers, we understand the value of home ownership!

Being mortgage-free gives homeowners an advantage when dealing with potential buyers or tenants because it allows them to wait for a good offer without the pressure of a mortgage payment. By taking desperation out of the equation, as a a mortgage-free homeowner, you can negotiate from a position of financial strength.

Watch this video to learn about some interesting ways to celebrate that final mortgage payment.

Paying off your mortgage is a huge accomplishment! It’s no wonder that many traditions have arisen to demonstrate or commemorate the paying off of one’s mortgage.