Paying off a mortgage can feel like crossing one of adulthood’s biggest financial finish lines. Suddenly, a payment that may have followed you for decades disappears from the monthly budget, and the house feels a little more like yours. But having your mortgage paid off doesn’t make homeownership free, and some expenses actually become more noticeable afterward.
From taxes and insurance to credit scores and retirement planning, life without a mortgage brings changes that go well beyond having extra cash.
