I currently live in the South-East of England with my partner and our 6yr old.
My MIL sadly passed away a while ago and we're due to inherit a large amount of money. We're not sure on the exact amount but thinking it will be somewhere around £150k. We currently privately rent and have never previously been in a situation where we could buy a house due to not having a deposit.
If we stay in the area we live now, we could get a mortgage but the payments would be around the same (or slightly higher) as our current rent. My partner has been finding his job physically stressful for some time and would like to be able to change job, but can't find anything he could do that pays the same. He has his heart set on moving up north where the properties are a lot cheaper. I must admit, the more we've spoken about it the more I'm coming around to the idea... But I'm also terrified that it could be a huge, expensive mistake.
If we moved away, we'd be able to live with a tiny mortgage or mortgage free (depending on the area). This would give us the opportunity to have another child (we cant afford for me to have any time off work where we are now).
The trouble is, I don't know much about any of the areas we've looked at.
We would be moving away from everyone that we know. My son would be leaving a school that he is settled in, along with the friends he has made. How do I know if its the right thing to do?
Any advice would be much appreciated 