WWYD?
We are a young family who own two properties- one on the GC and one in Sydney (which we live in) both with mortgages. We have good family support here in Sydney (don't pay for childcare) and both work full time (hubby works 6x10 hour days, I work 5).
We recently have been discussing selling our Sydney home and making the move away from Sydney (and our support network); if we do this, we will have a very little mortgage (currently managing but swimming in mortgage debt).
I'm not completely opposed to moving but lean towards thinking it's in our financial interest to keep both properties as long as possible (also incase we ever want to "come home").
Hubby thinks if we sell Sydney we will be "free", have money to play with, need to work less, etc.
I'm so conflicted. What would you do?!
What would you do with the properties?
Has anyone made a move like this and never looked back or do you regret moving?
3 Replies
Living to work or working to live? Debt makes me feel so trapped, I would give up both houses if it meant being debt free. I agree with your husband for letting one go, though I can see your concern with not being near family and starting again somewhere else.
If I were in your shoes I'd be inclined to sell the GC house and stay where your family and support are.
I've been on my own since I was 16, with very little in the way of support from my parents, I'd give my left leg and financial freedom to have that tight knit family that help each other out.
Don't take my feelings into account though, only you and your partner can make this choice based on your own best interests.
I’d sell one of the properties. It sounds like you’re living to work and your husband sounds like he’s getting burnt out/stressed/over it. One day off a week would probably mean he has very little time for hobbies, spending time with friends, seeing the kids, even just doing nothing. This isn’t sustainable or enjoyable - and what’s the point of living if you can’t enjoy it?
Financially speaking, it may not be as detrimental as you think. You’ll be able to pay off your remaining mortgage quicker and once your mortgage free there is nothing to stop you buying a second property in a few years time.