Equity gain on existing home has been crazy. I estimate based on comps that I could net around 150k for the existing home after selling fees. If I put 20% down, I could pocket 30k. Id use this towards a rainy day fund and wiping out all of my debt (approx 10k). I feel like this new home is in a good area where prices will go up due to the massive building in the surrounding areas. For example, lots of commercial, single family and multi family residential. In addition, a big hospital/campus is being built a couple or miles away). My main reason for upgrading is to a growing family. Currently, my SO is a stay at home mom, but will eventually work in the next 4 years (when the kids are in school) which would offset the mortgage.