For a shortcut just figure out if
equity after sale + (4 x (salary - debt payments)) >= (new house price + new house price x 7%)
The 7% is a kludge for stamp duty and other fees
Equity after sale = likely value of house - 1%- remaining mortgage ?
Yes - basically the cash that's left after the place is sold and the bank is paid back.
@Tenderloin started
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For a shortcut just figure out if
equity after sale + (4 x (salary - debt payments)) >= (new house price + new house price x 7%)
The 7% is a kludge for stamp duty and other fees