!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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Its up to you, can you personally handle not being in a house you don't like for seven more years? Even then, what then? You shaved off what you think is 13 years (I know thats not the math, shut up) off the other mortgage assuming prices and rates stay the same?
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Not really. Already getting annoying with the kids getting bigger. House isn't tiny, but the layout is weird in that everyone always seems to be in other's way.
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Is it a townhome? How old are the kids, as in, within the 7 years are any of them going to live on campus or something for college?
By the time my kids are in college I'll have 10 years left on my mortgage assuming im not paying more into the principle
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