You bought your house for $350,000 ten years ago and now it
needs repairs (you pay property taxes of $3,000 per year). You
consult a renovations company and it quotes you $40,000 to fix
everything. You are thinking about simply selling your house (no
repairs) for $425,000 and buying a bigger one for $610,000
(property taxes of $3,200 a year). You would be paying $1,100 a
month in interest to the bank, but also collecting $800 rent from a
tenant....