I'm curious, mostly in the Millennial group what your mortgages look like? Ours is a bit under 1.25 our home value is 2.5.
I used to think most had mortgages around what we have or more and that we were doing well in terms of paying it down but I've seen posts and it seems we have what's considered a huge massive loan.
Just sanity checking. We're in Sydney
I had a quick look around and have seen consistent feedback around not paying off your PPOR. This is the complete opposite of what I'm attempting and now I'm wondering what others would do in our situation.
My husband is on around 270 base and usually gets around 150k bonus or so
I am on 230 base plus eligible for 50 percent bonus yearly. It never is 50 usually 30-45 percent
I'm in my early 40s and I want to be a stay at home wife. I absolutely hate what I do but I'm good at it. This is why I was thinking of working for 3-5 years to cover the PPOR (we don't have offset but unlimited redraw). Plan was minimum repayment from his salary and live off the rest. All of mine goes into the mortgage. All bonuses to go into the mortgage. Once I have the security of no mortgage the rest to go into a high interest savings account or ETF.
Mortgage at the moment is around 1.23 house is worth around 2.6
Essentially my goal is to do my bit and then enjoy mooching off my husband.
I'd love to hear opinions.