I have just come into some money. We have no debts aside our mortgage. We cannot decide what to do though. I thought I would put both options down here and gather opinions. We have been going round in circles for weeks, getting no where. Here goes:-
Option 1: stay put and do up our house. It needs the garden levelled to be usable, we need new windows, doors, boiler, a radiator in the kitchen, kitchen decorated and new carpets upstairs. My dh would like an extension but that would be a long way off and would mean we have next to no garden left. This option we would pay off almost all of the mortgage. I like that idea but fear we may well out grow our house. I love our street, the view and our fabby neighbours.
Option 2: sell up and buy a newer bigger house that doesn't need as much done to it. We wouldn't outgrow it and I would only look for places with usable gardens. This didn't seem as important to us before dcs. We would have a bigger mortgage but it would be no bigger than the one we originally had here.
I'm sure we could love our new house too.
Add to this, we have to get tradesmen in as my dh and I have found we are utterly useless at DIY. I kid you not, left to us we would need DIY SOS!
My dh doesnt love our house like I do but I like the idea of being mortgage free in 5/10 years. We are both in our early thirties with one dd and hope to add to our family in the future.