Owning a home free and clear means there is no mortgage or rent payment yet there are seniors in St. Paul who are in danger of losing their homes. Property taxes are sky-high and with double-digit percent increases each year. It costs money to have the trash removed and the city makes sure it gets paid.
There are water bills and heating bills too. The cost of natural gas has gone way up in recent years.
Roofs wear out and so do toilets and water spigots. Water heaters can explode and furnaces don’t last forever either. There is more.
I am not trying to discourage anyone from owning a home. In fact, it is something that should be encouraged.
People need to be aware that there isn’t such a thing as an inexpensive house and even if there is no mortgage living in a house isn’t free.
