So two weeks ago my husband and I began to consider if we could purchase a house. We were tempted by the tax credits and pressured by our parents. I was determined that we would only enter into a mortgage if we could save money with appreciation only matching inflation (I have major housing bubble cold feet). From being a grad student, we currently live in subsidized on campus. Because of the horrible job market for teachers especially in our county, my husband works over an hour away. This all contributed to a spread sheet of items which would determine the max interest we could pay and still be saving more with a home. The considerations included:

Credits
Rent Payment
Housing Tax Benefits
Interest Saved by overpaying with Current Downpayment Savings
Renters Insurance
Auto Insurance Decrease
Husband's Decreased Driving

Debits
Current Interest Earnings on Downpayment
Utilities Increase
Maintenance Costs
Home Owners Insurance
Property Taxes
Melissa's Increased Driving
Homeowner's Association Fees
Moving Costs
Home Setup Costs
Closing Costs

From all this, I estimated that the most we could afford in interest would be $430 a month (remember subsidized housing) without losing money. Knowing we can get very subsidized loans because my husband is a teacher, we are looking at about $150,000 including downpayment. In our county, that just is not going to happen.

Are there any credits or debits I'm not accounting for?