• Sign Up
  • Log In
Real Property Associates, Inc.
  • Buying
    • Search Local Properties
    • Areas
    • Seattle Neighborhoods
    • Featured Properties
    • Mortgage Calculator
  • Selling
    • Learn About The Process
    • Home Valuation
    • Our Professionals
  • Our Blog
  • About
    • About Us
    • Connect with an Agent
    • Testimonials
    • Join Our Team
  • Property Management
  • DADU's
    • Buying & Selling DADUs
    • Building DADUs
  • Contact
  • Real Property Associates, Inc.
    7500 Roosevelt Way NE
    Seattle, Washington 98115
    (206) 523-0300

Company

  • Home
  • About
  • Testimonials
  • Contact

Services

  • Buying
  • Selling
  • Home Valuation
  • Mortgage Calculator

Explore

  • Seattle Neighborhoods
  • Featured Properties
  • Property Search
  • Buying & Selling DADUs
  • Building DADUs
Real Property Associates, Inc. - Footer Logo
    • Privacy
    • Terms
    • DMCA
    • Accessibility
    • Fair Housing
    © 2026 Real Property Associates, Inc. All rights reserved.
    Website built by CloseHack.
    Northwest Multiple Listing Service

    The information contained in this listing has not been verified by Northwest Multiple Listing Service (NWMLS) - WA and should be verified by the buyer.

    Based on information submitted to the MLS GRID as of 2026-01-06 06:21:59. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

    The database information herein is provided from and copyrighted by the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. Listings that feature the "three tree" icon are provided courtesy of NWMLS. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright.

    Copyright 2024 Northwest Multiple Listing Service. All rights reserved.

    Free And Clear? Nice.

    Published 09/06/2022 | Posted by Gordon Stephenson

    Free And Clear? Nice.

    Originally published March 20, 2009

    One thing that I don’t hear often in the argument of “rent v. own” is the fact that at some point, if you stick it out and pay long enough, as a homeowner you eventually get to be payment free. 

    In fact 82% of those aged 62+ are homeowners — not renters (in 2021, 80% of those 65+ own their home); 74% of those owners are free and clear of any mortgage debt. One-half of those ages 55 to 64 who own homes also have no mortgage debt.

    Sure, there are still maintenance, utility, taxes and insurance costs — and a tenant still has maintenance and utilities. But you have an asset of some value, and no payment, and no landlord to be subject to. I think that’s the green pasture, the gold at the end of the rainbow that many call the “American Dream.” 

    I don’t know of many of my peers, nearly all bred in middle-class environments, whose parents in the 65-80 age group, don’t:

    A) Own their homes 

    B) Own them without any mortgage debt.

     

    Not a bad goal to work towards…even if it takes 30 years to get there.



    Related Articles

    Keep reading other bits of knowledge from our team.

      Request Info

      Have a question about this article or want to learn more?