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Old school too, I don't have the network to master the more complex arrangements, will keep things simple.
That's the thing, there's probably ways to make you earn 20% more over time some other way but what would make you happiest? I know I'd feel much better in my day to day life being mortgage free than knowing I've got money accumulating in some unknown way for an unknown day.
If you can be essentially mortgage free then I'd say it's a no brainier, paying rent/mortgage is the number one cash stress for most of the country, without it you've pretty much won the game.
Edit just reread what you posted, I'd do option 1. As long as you can have some cash savings left over, say 20k, or figure out the overpayments during the rest of the mortgage term to see if that works better?
Gewürzt-
As long as you can have some cash savings left over
lolz
despite earning a lot I do not have savings. I have run a tithe my entire life, and I donate the vast majority of my disposable income, only not doing so occasionally to buy silly toys for myself like bikes, computers, or a telescope. I never claimed to be financially responsible.
my retirement planning is high risk, and involves generating a lot of wealth working in tech via the shares rather than the salary, in as short a time as possible (hoping to earn 30-40 years of retirement money within a decade of work), and selling off some fixed % every year I'm eligible to do so (after this initial one).
if ever I really crunch in the short-term, I'll stop donating to all the things, and will immediately have a decent disposable income.
I don't really value money, perhaps I should've, but I doubt I'll ever regret putting people and the World before myself.
it would be nice to be mortgage free, so I'll take a shot at that.
Velocio
Yeah, looking forward to this... would've had a mortgage for only 8.5 years in my whole life, and never intend to have one again.
Old school too, I don't have the network to master the more complex arrangements, will keep things simple.
I would recommend a builder for you but I don't think his labour fits into your budget ;)