re: Opinion on buying a larger home within budget - sacrificing location.

quote:

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Just dont know if I can bring myself to have a $1600/mo mortgage when we are bringing home 6k/month.

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Reality is, under this situation you have to be prepared for a $2,400 a month mortgage because there is no guarantee you'll get a renter or how long they will stay.

Then add in the "what if" situations of making repairs on new home, rental, 2 houses of potential appliances going out. Insurance rates will be different with renter, etc.

I would suggest you plan to stay another 2-3 years and track interest rates. Plus your situation may be a little better by then and you will feel a little more comfortable making the move.