Here is my situation - I'll have my current home paid off in the next couple of years. I own a rental property with a mortgage that will be paid off in the next 10 years. No credit card or other debt to speak of. I have a DB pension plan, and my wife has a DC plan. 15 years from retirement. Small amount in RRSP's with lots of room to contribute. We have recently starting looking at bigger homes in nicer neighborhoods. We can easily afford such a home but it would mean carrying a mortgage for another 15 years or so rather than being mortgage free. Should we or shouldn't we?