Sell house for 200k and invest? Or pay off home loan?

[Sherry Byrne]

Which would you do? I am 63yrs old. Own about 1/2 my portfolio of 55 rental houses with no debt at all. I have also paid off my own personal residence years ago. And I like not having a house payment.

But I took on a big remodel on a house I intend to live in for at least 2 yrs. I borrowed 225k for it. And I am about ready to move in.

Question is....what to do with the one Iive in now? I will clear maybe 190-200k on it.

I can borrow $225k at about 3.75 for new house. So should I use the 200k from sale of current home to invest? (And in what?) Or should I just pay off the construction loan on new house and continue with no house payment?