Overpay on mortgage or no??
Hey Everyone!
So I'm new to investing but this question is actually about my current live in home I've occupied for about 4yrs now. My question is for someone in my situation, to overpay mortgage or save the money that would have been to used overpay on the principal?
Little background. I do plan to put my home on the market to sell anytime in the next 6 months - 2 year (depending on opportunities that present themselves). I currently owe 115k and the home is valued 200-210k. My mortgage is $918 and for several months now I've been setting aside $1,100 a month to pay the mortgage then save the remaining $182.
So would it be smarter to continue saving that $182 a month for future investment opportunities or use it to overpay on the principal? To me I feel it's not worth it to overpay considering I do not plan to be there for the longterm.
Thanks!!