Interesting that you should mention LBYM. That is exactly what we have been aiming for all along. All the calculators and formulas say that we can "afford" a mortgage of roughly $300K - $320K. In our tax bracket of 25% that would translate into a tax savings of $4662 on interest alone. But I don't think we would be able to save nearly enough in real terms becuase such a house would have so many other expenses tied to it that it would make us a prime example of house poor.
And believe me in our area, $320K would fetch you a
really nice pool home, new one at that. My, isn't that tempting
