IMHO, paying off a mortgage is the equivalent or paying your rent 30 years in advance. Why in the world would I ever do that. If it is some psychological need simply put your money into a REIT account and label it "paid off home." Set up withdrawals to be automatic so you will never be writing a check or thinking about it.
Paying off a mortgage = wussassity, having the money to pay it off and investing it = baddassity.
Here's a link that explains why paying off a mortgage or even owning a home is a bad idea. http://www.dailyfinance.com/2014/07/19/the-worst-investment-you-can-make-buying-a-home/?cps=gravity
There is a nice calculator there that will help you evaluate renting vs buying.
Really, you could avoid restaurants, never heat your home, drive with the ac off and never drink a Starbucks and you wouldn't even be close to saving the money that paying off a mortgage early will cost you.
It is a multimillion dollar decision. One that most people will make with emotions rather than a calculator.
Some other food for thought -
Your home is too big --- shoot for 400 sq ft per person
Your home is too expensive --- shoot for a home valued at no more than 2 times your annual income.
You live in an area that is too expensive --- rural Midwestern communities have housing at 1/3rd what the coasts do.
Your home owns you --- you don't own it.
If your serious about paying off your home you should also pay off the maintenance, taxes and insurance 30 years in advance. Most people would say that is crazy. But then why pay your rent 30 years in advance?
There seems to be a big contingent here on the forums in favor of paying off homes and owning homes in general. For me owning a bigass or even smallass home is the equivalent of driving a Hummer clown car down the road. It is the biggest consumerism item in the world. I cry a little every time MMM is bragging about his uber expensive chunk of consumerism. I feel sorry for him that he is too lazy to walk or bike to the park and insists on owning a home with a park in the back yard. I shed tears for his engineering degree, knowing that he is can't or won't do the simple math on mortgages vs. investing.
Sorry to rain on your parade.