I have read instances in which people delays the repayment of big ticket item such as the housing loan although they have the fund to do so. They use the fund for the investment which will supposedly generate the return at higher rate than the interest rate in which they take the loan. I will not have opted for such decision even though I have no housing loan at the present juncture. I feel that it is more important to have no outstanding loan at the present moment if I have the financial means to settle the loan in full. It gives me the peace of mind without the existing loan at the back of my mind.
This gives the liberty and ability to quit the full-time employment without any worries of the outstanding loan. In the event if I need to buy a property, I will opt to settle the outstanding amount in full. I will not buy the expensive property which is likely to be prime area of the current place of my residence and opt for the less expensive and affordable property in the less demand corner of the place of my residence.
The above circumstance is my preferred decision and peace of mind is of upmost importance for my well- beings.