Based on where my partner and I are with our careers, we think it makes sense to buy rather than rent and to live there for around 5 years.
After talking to TD Bank, I realized that some offer lower interest rates for jumbo loans (wtf?). So essentially, I can have the same monthly expense with a $550k home as with a $500k home (doesn't seem to be any gotchas with closing costs or points that would throw this off).
Jumbo interest rate of 3.75% with points and 3.265% without. Rate is 4% for confirming.
Am I crazy here? I mean, I realize that prop taxes, insurance, and down payment will be higher with the $550k home, but I'm very tempted by the interest rate. Anyways, my biggest priority is FIRE and running the numbers through my model it seems like the more expensive house doesn't delay my retirement by any meaningful amount, even taking into account opportunity cost of higher down payment.