Lim: I subtract out from the potential mortgage payment the tax benefit of owning + the part of the monthly payment that pays down principal.
I am also assuming a refi at some point, and rent going up.
Putting these together, it is still a little cheaper to buy.
I am still early in the process. My parents might move in with me to a granny flat and provide childcare part time for my new baby. That increases my price range but also requires something larger.
I’d probably sell my house if there were no capital gains taxes and I could replicate my prop 13 valuation and 2.3% 15-year mortgage elsewhere. Since I am “stuck” owning it would become a rental.
