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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Sorry, but I still think that is fantasy land. They have an old house in a bad school district apparently. Combine that with the high costs of moving/buying/selling, yeah. I am not seeing it. Your'e asking them to take on a 30 year burden when tops, they have 12 years of school to pay for. [/quote] I ran some sample numbers through a mortgage calculator. If OP were to sell his house and be able to roll $500k from that sale into an $800k house, he could potentially get a 15-year fixed mortgage with monthly payments under $1,100 a month. [/quote] Also, if OP were to do this, when OP’s kid were to graduate from school, OP would most likely have a greater net worth in the form of his equity in the more valuable home than if he paid $24k a year for school and had not assets to show for it. That puts OP in a better position for future retirement if he decides to downsize the house and pull out some equity.[/quote]
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