The wife and I are sitting around, trying to figure out if we can buy a new house. We’re looking to move slightly up into a different school catchment, but stay in the same overall ‘hood. So I cooked up a spreadsheet that calculates all the variables that I could think of:
- What we’d sell this house for
- The new land transfer tax scheme
- Possible ranges of interest rates
- Property tax estimates
.. and then spit out how much more our monthly payment would be.
And given that we can’t keep to a budget to save our lives, it would seem that the answer is “No, you can’t move”.