Make 2 Extra Principal Payments a year and you shrink the period of time to pay back the loan from a typical 30 year loan to 14 years!
Buy a duplex as a primary residence it provides you with a place to live while covering all or part of your mortgage with rental income from the additional unit. You can actually include the rental income that the property would generate as part of your income during the mortgage process.
529 Alternatives
Purchasing a home instead of contributing to a 529 gives you more financial freedom. You're able to put a fraction of the upfront cost while still reaping the benefits of equity and tax deductions. And if your child wants to choose a different path other than college you are not hit with taxes from withdrawing your 529 for non college purposes.
When you sell a primary residence after 2 years you have a capital gain tax exemption
Married - Exempt up to $500K in total capital gains
Single - Exempt up to $250K in capital gains
You can also lower the burden based on any improvements that you may have made to the property throughout the years; the rate can be between 15-20% based on your tax bracket. You also have another option such as a 1031 exchange to defer capital gains.
Investment Properties
The great part of owning a home is that you have a tangible asset that has the ability to be a plan B or pivo as things change. There's always an essential need for housing - even if you decide to buy a new home, you could keep you current house as an investment property. The remainder of the loan owed to the bank is being actively paid off by a tenant at the same time that you are benefiting from a larger equity position and tax advantage and Expenses and Depreciation for investment propertyes are tax write offs!