From Mortgage Burden to Financial Freedom: My Journey to a Debt-Free Life
In January 2023, my life was at a crossroads. I was facing divorce, carrying the weight of a sizable mortgage, and shouldering most of the expenses for a sprawling four-bedroom home on my own. As a self-employed individual, this period was fraught with stress. The unpredictability of freelance income, the agony of waiting for clients to pay, and the constant fear of falling ill left me on edge. With minimal savings to fall back on, I knew I needed to act. Selling the property and using the proceeds to pay off the mortgage in full became my salvation. This decision not only lifted a massive financial burden but also gave me the mental and emotional space to regroup and plan my next steps.
After selling the house, I moved in with family while I figured out my future. I had always dreamed of owning a home without the burden of a mortgage or rent, and this became even more important as I entered a new chapter as a self-employed, single individual. The process of securing a new mortgage seemed daunting this time around. When I had purchased my previous home, I was employed with a steady income and had applied jointly with my husband. This time, as a single person with only a few years of self-employed accounts, the mortgage options available to me were laughable. The amount I could borrow wouldn’t even cover a parking garage. Renting wasn’t appealing either, especially since I had two dogs and dreaded the idea of being at the mercy of a landlord’s rent hikes.
Determined to avoid another mortgage, I kept a close eye on the local property market. In June 2023, I found the perfect opportunity—a charming barn conversion that was small but full of character. Best of all, it had already been refurbished, meaning I wouldn’t need to invest extra time or money into renovations. Thanks to the profit I made from selling my previous home, I was able to purchase this new property outright with cash. This time, there would be no mortgage, no monthly payments, and no debt. I had finally achieved my goal of being mortgage-free.
Living without a mortgage has been nothing short of life-changing. For starters, the financial freedom it has brought is immense. I’ve been able to build up significant savings—more than I’ve ever had before—and I’ve even managed to pay off lingering credit card debt. This newfound financial security has given me the confidence to start investing in the stock market, something I had previously felt too nervous to explore. I’ve also been able to fund home improvements, such as installing a wood-burning stove, updating the heating system, and buying furniture. Perhaps most satisfying of all, I was able to purchase my car outright, eliminating yet another monthly payment from my life.
The best part of being mortgage-free, however, is the work-life balance it has afforded me. Knowing that everything I own is truly mine, with no strings attached, has brought me a sense of peace and stability. I no longer feel the pressure to take on work I don’t enjoy or deal with difficult clients just to make ends meet. This freedom has allowed me to be more selective about the projects I accept, ensuring that I only commit to work that aligns with my values and interests. It has also given me the flexibility to spend more time with loved ones and pursue hobbies I enjoy. I’ve even started traveling more, visiting eight countries since becoming mortgage-free. The joy of exploring new places without the weight of debt holding me back is indescribable.
Of course, achieving this lifestyle required some compromises. I chose to move to a lower-cost area to make my goal of buying a property outright a reality. While this meant leaving behind the familiarity of my previous home, it has been a trade-off I have been more than happy to make. I am acutely aware of how fortunate I am to be in this position, and I am determined to make the most of it. Nearly two years later, I can confidently say that living debt-free in my 30s has completely transformed my life. It’s a decision I will always cherish, and one that continues to open doors to new experiences and opportunities every day.
