The cost of renting is your annual rental which I agree with. However, if you rent you also would earn 5% on the 140k correct? So shouldn’t you calculate a 7k windfall or credit to the rental calculation? Also you should be crediting another $7392 to your rental decision because you are applying that to your principal on the purchase calculation. (you sure you don’t work for a mortgage broker? heheheh… just kidding)
Also as Nancy posted you really should itemize property tax seperate from Mello Roos as you cannot deduct Mello Roos. Also are there any HOA’s for your home?
Okay so just looking at those factors I think I have pushed you to over 21K in savings. One thing that T really fell may help you and your wife out would be for you to have a look at the expireds, withdrawns, and cancelled listings for the 4s Ranch area this past year. Lemme know and I can send them over to you.
