Reply to I do not want to move: am I making the wrong decision?

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[quote=Anonymous]At age 30 we bought a $400K house on a 15-year mortgage in a school pyramid with great schools ratings of 4. At age 40, we have two kids in pre-school and have gone back and forth about moving but I am the holdout. We have $350K combined. HHI. Our mortgage balance is sufficiently low I could write a check to pay it off if I wanted to but I don't because the interest that would be saved is minescule.

I see the merits of moving. We could be a little more comfortable with more space (1700 sq ft.) but it works most of the time. I sometimes feel we belong in a different neighborhood. Our kids go to pre-school near my office and most of their friends' parents are two-income professionals like us. Most will go to a different elementary school than our kids next year. I feel a little guilty that they will not be going to one of the schools where their classmates will be going if we stay here.

On the other hand, I really do not want to take out another mortgage. I was depressed that several real estate agents told us our house has really not appreciated much in 10 years, likely due to the less desirable schools. If we netted $350K after commissions and repairs, we'd still be looking at borrowing a fair amount.

DW thinks I'm being irrational and that there is no point in making money if you can't use it provide better schools and a nicer home for your kids in the here and now. I feel like we would handcuffed with a fat mortgage when we could have financial freedom--for private school at some time, to pay for college and graduate school, for early retirement or a second, lower paying career in 10 years, or for whatever we wanted. I say try kindergarten and/or first grade and see how we like it then decide--there are options including magnets.
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