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We have $220,000 mortgage left on our home. APR for current mortgage is 2.25%. Our current home value is ~$500,00. We have around $280,000 in savings. We are big family (3 kids). We need advise if it will be good option to add another level to out existing home which is approximately -$350,000 or buy another home worth ~$800,000? If we buy another home, we are planning to put at least $500,00 down payment. Me and my wife are planning to with either option starting next year. We are unsure about the best option for us.
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- 1 year ago
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