Staying put is not an option. We have no debt other than the existing mortgage. We have excellent credit and are already receiving the most favorable mortgage rates within the context of current market conditions.

Yes, we have a couple hundred thousand, give or take depending on exactly where the appraisal lands.

We are a family of 4, with my MIL coming as well. An apartment isn’t an option.

New home is intended to be for the next 17 years, though relocation for work is always a possibility. That relocation would entail additional financial flexibility due to a promotion or leaving a job for higher pay, so not really a concern.

We could pay both mortgages in a pinch, and could always sell down the road if the financial benefits of renting were no longer there.