so what would you do? - property

[golds]

I think I can guess at the answer.

We currently live in a large 3 bed house, big garden, big everything including mortgage.

It is in one of the best areas around here and in a great school catchment.

We have just seen another property, another 3 bed detached, but smaller everything including garden, however it is in a nice safe cul-de-sac.

Property still in the same catchment area and seen as a nice family location.

By moving, I will knock off approx £60,000 off our mortgage therefore making life incredibly comfortable, with my cc paid off and car loan, we would be saving approx £700 per month.

Actually know the answer to the question, but is it worth struggling in a prime location with large house or living the life of riley down the road ?

[NineUnlikelyTales]

I would move, especially as the interest rates are on the up.

[TheQueenOfQuotes]

ermmmm I think you know my answer .

[Wheelybug]

I think I would ask myself these questions:

Do you think you will always want to 'get back to' the size of house you would downsize from ?
Do you need the space ?
Do you see a time in the nearish future when you would be able to more comfortably afford current house ?
What sort of things do you have to go without to afford your current house and how much do they matter to you ?

[golds]

Well the difference would be, this school holiday I haven't been able to take them out far or anywhere I have to spend. I'm always saying no, even though I don't want to spoil them.

I have to watch each week what I spend on shopping, getting bare minimum.

I may regret it size wise, but hey I currently have 3, 3 seater sofas in my lounge, I don't properly utilise the space I have - it is not necessary.

I want to be able to have my hair cut without thinking, can I justify £20 on myself. The mortgage has gone up £100 in the last year alone.

I know its the right thing to do, on paper and in my mind, it just have to do it, house being valued on Wednesday so we will see if figures are going to be as great as I hope.

I think I need to start living my life, recently life has been a bit tough

[LilyLoo]

i would go for the move. There really is more to life than having 'the house'. Memories will come from great days out with the kids and times you have been able tot reat yourself. Not form the size of your house imo.
If you are finding things that hard then £700 would make a massive difference.