nickhawkins21
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It really depends, in the good economic times it was better to invest in your home, and kitchens were usually the best investment in a home that created the most value. These are bads times we live in now, but things will turn around, but the question is will it turn around and boom like it was in 2005? Doubtful.
A couple of questions to ask yourself is, what is your 5 year plan? Are you planning on moving? How old are you? Are you near retirement? If you are near or already retired I would say pay off your mortgage. |
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xs.essex
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It's a no-brainer. Clear the mortgage. While you owe money, you are paying interest which is just money down the drain. Work out how much interest you will save over 4 years if you pay it off now ... I bet it will be more than enough for a nice kitchen. |
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taxed till i die,
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Pay mortgage. |
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great_warrior2007
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I think u should clear the debt first and have nothing to worrry about. U could always pay for ur kitchen on intrest free credit, which some kitchen companies offer. |
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Eilidh Monty
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mortgage and then u can save up again and put in a new kitchen |
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taz c
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I'd pay the mortgage. If you spent the money on a kitchen & then the house got repossessed cos you hadn't kept up the repayments, you'd have nothing to show for your savings. |
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Jon
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Definitely should pay off the mortgage. |
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stickyfingeredurchin
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Pay ygr mortgage , that's an investment.
If you came to sell your house it doesn't matter how great or expensive your kitchen is , if its not to the buyers taste it will be ripped out.
The value of your house is in the bricks and mortar and in the current economic climate I'd rather secure a roof above my head. |
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WelshLad
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Pay off the mortgage. |
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chay.webprosperity
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pay the mortgage off first, then you shall have additional money to put towards the kitchen.
http://chay.webprosperity.com |
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micciiimoo
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Mortgage, mortgage, mortgage! Then at least you know that the house belongs to you and if the need ever arose you could sell it, even without the new kitchen, and any money you got from the sale would be yours. This is the most sensible option by far and in the present climate I say you'd be a fool to do anything else. Sorry if it's not what you wanted to hear but on this occasion you have to play it safe. |
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COLIN T
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Pay the mortgage - you could be redundant next month! |
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G
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Pay of the mortgage. |
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Bohner
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Pay off mortgage!! Definately!! |
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Paul O
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Mortgage |
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27/07/09 Baby Due :D
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mortgage |
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Pabloina
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errrrr,, I'd go with the mortgage i think, and once your mortgage free sort the house :-) it will finally be all yours |
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lolly
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The value of the house includes updating kitchens and baths. I would do the kitchen. Holding a mortgage is not the worst thing in the world. |
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Tertia
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Tut tut! of the 2 choices you have given the new kitchen is the best. (The mortgage you look at once a month when you check your bank statement, the kitchen you are in 3x a day already)
However, if you have credit cards then consider paying off a chunk of that as the interest rate on that borrowing is nearly 10x bigger. Mortgage is the absolute cheapest form of borrowing (except from bank of mum & dad) and should be last to pay off.
As a bonus I will offer to plan your kitchen cupboard layout for you -for a very small fee. I do the best kitchens ! |
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buildypuss
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pay of the mortgage then buy a spell check. |
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