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/u/Snoo-3554
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In 2020, we bought our first home with a 2.65% interest rate. It’s a $255K house, and our mortgage is around $1,200/month. Our combined income is $120K, so we’re in a good financial spot and able to save. The problem? We’re just not thrilled with the size of the house or the area we live in.
The house is 1,500 square feet, and with two small kids (ages 5 and 3) and potentially one more in the future, it’s starting to feel cramped. While the school district is decent, Arizona is losing its appeal to us. We’re worried about what the state will look like in 15 years—will it even be livable? I also miss greenery, water, and the idea of having more land for the kids to run around.
We’re open to moving anywhere, but here’s the dilemma: even with $120K in equity from our current home as a down payment, a modest $350K house would come with a mortgage of around $1,900/month—nearly double what we pay now. That’s hard to swallow, especially when the loan amount isn’t much higher.
I’d love to make this move while the kids are still young and not deeply rooted in schools, but I feel so stuck. Do we stay and deal with the space and location frustrations or take on the bigger financial burden?
For context, we work from home, so jobs aren’t a factor, and we know this is a privileged problem, but it’s a very real dilemma for us.
Any advice or suggestions would be greatly appreciated!
submitted by /u/Snoo-3554
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Feeling Stuck in Our Home—Looking for Advice
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The house is 1,500 square feet, and with two small kids (ages 5 and 3) and potentially one more in the future, it’s starting to feel cramped. While the school district is decent, Arizona is losing its appeal to us. We’re worried about what the state will look like in 15 years—will it even be livable? I also miss greenery, water, and the idea of having more land for the kids to run around.
We’re open to moving anywhere, but here’s the dilemma: even with $120K in equity from our current home as a down payment, a modest $350K house would come with a mortgage of around $1,900/month—nearly double what we pay now. That’s hard to swallow, especially when the loan amount isn’t much higher.
I’d love to make this move while the kids are still young and not deeply rooted in schools, but I feel so stuck. Do we stay and deal with the space and location frustrations or take on the bigger financial burden?
For context, we work from home, so jobs aren’t a factor, and we know this is a privileged problem, but it’s a very real dilemma for us.
Any advice or suggestions would be greatly appreciated!
submitted by /u/Snoo-3554
[link] [comments]
Feeling Stuck in Our Home—Looking for Advice
Continue reading...