Yay for getting a house! It's stressful in ways, but far less stressful than dealing with landlords.
Since you're in Australia, it might be beneficial to NOT pay off the mortgage as fast as possible. Australian government policy really encourages saving for retirement, which is why you pay less tax if you put income into a superannuation fund instead of getting paid income and using it to pay down your mortgage. Additionally, mortgage rates are often less than the potential rate of return on your retirement savings. Depending on your personal tax situation, it might be better paying as little as you can on the mortgage until you reach 67, putting as much as you can into superannuation funds until then. THEN pay off the mortgage.
Since it's the biggest purchase you'll ever make, it might be really worthwhile talking to an accountant familiar with Australian tax laws to see what is best for your personal situation (and not rely on some random Canadian from the internet).
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timeasmymeasure
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Since you're in Australia, it might be beneficial to NOT pay off the mortgage as fast as possible. Australian government policy really encourages saving for retirement, which is why you pay less tax if you put income into a superannuation fund instead of getting paid income and using it to pay down your mortgage. Additionally, mortgage rates are often less than the potential rate of return on your retirement savings. Depending on your personal tax situation, it might be better paying as little as you can on the mortgage until you reach 67, putting as much as you can into superannuation funds until then. THEN pay off the mortgage.
Since it's the biggest purchase you'll ever make, it might be really worthwhile talking to an accountant familiar with Australian tax laws to see what is best for your personal situation (and not rely on some random Canadian from the internet).