DH and I live in a 4 bed terrace in a nice area. It's fine and we've been happy here for 5 years, but there's not much living space or outdoor space, and now we have a DS it is feeling more cramped. The dilemma is, if we want to move to the 'next size up' home in this area (where we ideally want to stay), it's a big jump and we'd be really stretched by the mortgage payments. We'd manage, but have nowhere near the disposable income we have now. If we stay put and continue to overpay, we'll be mortgage free in 7 years.
On the one hand, I love the idea of being mortgage free and then being able to go on great holidays, save for DS's future etc. But on the other hand, this is just not my dream home, and not really a home I'm proud of or where I imagined I'd be at my age. Also, I'm conscious that a higher priced property will make more money in the long run.
I know there's no right or wrong answer, but wwyd??
For info there's no way to extend our current property. We don't plan to have any more children.