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I’m confused. Is the $3,100 rent the amount you are paying now that you would be replacing with a house you’re looking to buy as your primary residence? Or is this a situation where you want to buy a house for $620k that would rent for $3,100 as an investment that you hope to move into at some point later down the road?
I did some rough calculations and it looks like it should be somewhere in the $4k-5k range. There are some minor non-urgent changes we'd like to make but the place was renovated only a few years ago so it's in great shape overall. We're definitely leaning towards yes, but it's just such a big decision I had to run it by more people. Thanks for the input so far!