Reply to What would you do - stay or buy new?

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[quote=Anonymous][quote=Anonymous]I think about this possibility all the time. I have a house I bought with a 2.75%. Good neighborhood and all that. But it's not really where I want to live and I bought it with the idea it'd be a stepping stone up to the type of house I always wanted to have, including on certain favorite streets/neighborhoods.

But the reality is now nearly 8% interest rates and to make it work I'd have to throw more money into the down, probably paying 60% down and would have to close out one of the investment funds. And things would be tight fir a bit. But I'd have a house that would make me much happier. Maybe. Who knows.

Stay in dull and boring with plenty of money in the bank versus a house you'd love and things are tight for a while. Not an easy decision.

[/quote]

OP here - I actually really love our neighborhood and love our neighbors for the most part.  We are torn because we have young kids and are behind on retirement and college savings. We make a lot of money but have been aggressively paying off our college loans as well.  Not sure it makes sense to take a financial risk for a new house but I know this is probably once in a decade chance to get on this street. [/quote]

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