I am figuring out the financial implications of buying family home/not buying family home. The best and least disruptive decision for the kids is to stay. The best financial decision is to move to a different cheaper area which I wont do because I will not move them from their school. My realistic options are to stay or buy a cheaper house with a smaller mortgage in same catchment area. If I stay, I can pay all my bills, just. Looking at what is available, I could potentially spend 400-500 less/month in mortgage/tax if I move. Is that worth it? I would also loose money moving on the real estate commision and moving expenses, so I am really torn. I might also just end up spending that on expenses, whereas at least a mortgage is like a forced savings plan, although losing a good chunk to interest too.
Mainly I just dont want to move, but I realize that may be my emotional reaction. Would you move based on that savings amount?
Did you move? Other than financial any benefits to moving.not moving?
Mainly I just dont want to move, but I realize that may be my emotional reaction. Would you move based on that savings amount?
Did you move? Other than financial any benefits to moving.not moving?
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