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We sold a home in San Diego in the Fall of 2000. Bought a newly built home just outside of suburb and we had a 30 yr mortgage or $280K loan at 6.5%. We didn't get to stay long (8 months after moving in) before my wife got a relo offer to move to Indy.
We were flown in to Indy twice, first to tour around the city, second, house hunting. We gained just over $70G for selling our home in S. Cal. Since it was a relocation, the gain wasn't taxed. On top of that, all realtor fees were paid for by my wife's company. Plus the incentive of 3% of the selling price since we sold it instead of the company acquiring it. All our new home doc fees were also paid for.
Now we have a 15 yr loan @ 5.65% with a loan amount of $60G. I think we saved well over half a mil moving from San Diego to Indy. Granted, the weather can't be beat in S. Cal. We could make a lot of trips visiting friends and families in the years to come from the mortgage we will have saved.
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