Thanks everyone for the quick responses.
We were looking at the tax angle because tax savings is often touted as the single largest adv homeowners have over renters.
Jim, we are looking at 120K mortgage tops with assumed interest rate of 6.25% That gives us first 12 month interest total of $7500 Property tax should run around 2K. Even after adding our annual charitable contributions, we would at best be even with the standard deduction.
Both of gross around $86K but we don't want to get into something big when the market is falling and there is always a chance that we may have to move.
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