The houses we are now looking at are around $650K, I figure we would then have a 170K mortgage all said and done. With our current mortgage we were very aggressive our payments were around 2000 a month by choice. With a new mortgage at 170K over 25 years at current rates we would be paying about half of that or 1000 per month. After going so aggressive for so long I would back it off and enjoy life a little.
Our current house is also a 1998 so it is a bit older and would require some cash to keep it up. Going with something newer avoids those upkeep costs like carpet and shingles. We already bit the bullet on the big cost of windows so that is not an issue thought. A big part of me says go for it and buy the big house, but the conservative in me worries about rates going up and the bottom falling out.
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