California E&S Insurance

Should I sell? 2.625% interest rate Hi there, I’m having a hard time with this one. I’m located in the Northbay of California first off. Real estate holds value well where I live and continuity trends up. Details: - Family of 4. 2 kids. - 3/2 approximately 1,500sqft. - I owe $440,000 on my loan - 2.625% interest rate - 25 years left - built 1992 - near a fire station so my home owners insurance is low, we are not in the California fair plan zone. - total monthly mortgage is $2,775 - can rent home for $3,600/monthly - equity $330,000 - could sell home for $770,000 it comps close to that. - We are 35, 25 years til retirement. - annual household income is $165,000 gross Dilemma: I like my home but our town is starting to get crowded and we want to get some property for the kids, little bit simpler life. Property in our area is over a million even for a quarter of an acre. We’ve been looking out of the area for homes. However, I’m in love with our current rate and low fire homeowners insurance and would hate to get rid of that 2.625%. If I’m able I’d love to keep our current home. Keeping our current home limits purchasing a second home. Keeping our home we can purchase a new second home out of area for $450,000 selling I could buy for $750,000-$800,000. We have $80,000 cash in the bank for home buying and down payments. If I sell I have this plus the equity. Play monopoly with me: 1. How would you guys think through this? 2. Should I sell my current home to buy another, or is the situation too good and I should hold onto it and still buy the second but at a lower price range? 3. Is holding onto the home and thinking if it as a piece of my retirement a bad thought process? Thank you in Advance.

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  "title": "Should I sell? 2.625% interest rate",
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