Monday, January 10, 2011


Looking over our mortgage receipt for 2010, it occurs to me that little of the money actually went to paying the principal on our home loan. Over half of this year's payments went to mortgage interest. Thankfully, we have a low fixed-rate loan; as opposed to one of those predatory loans that doesn't pay off any principal ever. Just over a quarter of this year's mortgage payments went to paying property taxes. There is no state income tax in Texas, so property taxes are pretty high compared to most other states. Ouch.

I love our cozy house. I love that is so close to downtown Austin and all the places we like to go. I love that we don't share any walls, ceilings or floors with other residents. I love that we can have three cats and a dog without a landlord fussing at us, and demanding outrageous pet deposits or pet rent. I love that we've made this house our own with the new driveway, deck, fence, air conditioning system, tankless water heater and decor. I love that this house is small enough to maintain cleanliness, but has plenty of room for us to be comfortable.

Do I love the financial reality of mortgage payments and the cost of upkeep on a house? Nope.