!homeowners would you rather stay in your slightly too small unglamorous house which you'll pay off completely within 7 years, or move to a much bigger more glamorous dream home, with a way bigger but still affordable mortgage for another 20 years?
I just don't know what people do in these situations.
I want the house but I don't want the added risk a bigger mortgage comes with. I.e. would need to build up bigger emergency fund despite having bigger outgoings.
I don't like my current house but I do like the idea of having no mortgage outgoings in 7 years.
What would you do or what have you done when faced with this decision?
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!commenters thanks for the advice so far which is basically:
Which pretty much matches my thought process.
I think I'll do the time-honoured thing and do nothing until the problem either goes away or becomes very clear what I should do.
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If you move then there will be things that you like about the new house but also things that you'll realise were better in the old house. This is also useless advice that won't help you to make a decision.
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