Reply to Need to figure out if we should stay in our house or sell it

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Reply to "Need to figure out if we should stay in our house or sell it - please help me do the math"

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[quote=Anonymous][quote=Anonymous]Sale price minus commission = net sale
Net sale minus purchase price minus renovations = appreciation
If appreciation > $250k and home <2 years then taxes ye pay
Appreciation minus move cost, title, inspection = move cost
Defray by 1% of new home sale price = move cost with net defray
New mortgage at new rate total interest
Etc.

Gimme some numbers and I can do it for you

Cost of house
Cost of repairs
Current mortgage and rate and term 
Approximate age of mortgage 
Cost of new house
Assumed date when you buy new house
Temporary housing plan (if any)

[/quote]

This is the OP.  PP, I now have the data and I really hope you come back to answer this!

Cost of house  [b]$600K[/b]
Expected sale price of house (I added this): [b]$650-700K[/b]
Cost of repairs 
[b]Minor repairs (a necessity): $15K in supplies if we do it ourselves; $30K in contractors if we contract it out
Renovations (combination of our own work and that of contractors): $50-100K[/b]
Current mortgage and rate and term [b]430K balance @ 4% [/b]
Approximate age of mortgage [b] I believe the mortgage has 25 years left - this is after 2nd refinancing - our payment is $3K/month[/b]
Cost of new house [b]$650K[b]
Assumed date when you buy new house [b]Next spring, 2015[/b]
Temporary housing plan (if any) [b]None.[/b][/quote]

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