I agree with the others that staying put makes the most sense too. No one knows the future and I was in the same boat in terms of savings…I had to sell a lot of outside assets (stocks) at a bad time 2009 to put tons more down to buy a house (bad loan environment). Luckily, housing has recovered a lot and I don’t know what will happen, but if I was still in stocks, maybe I’d sell out and waste the cash (certainly easier with kids and wife). With the money in the house now, it’s stored equity I don’t expect to tap, but should make life easier in a few years when housing cost will always be there, but your payment goes away or down.
One point that should also be brought up is if you are a single guy, you really don’t know how single women or single women with small kids feel in poor or unsafe areas. The constant gawking, staring from unsavory men, etc…
Unlike men who may want women to stalk or show interest, women are terrified if there are strange men/stalkers following them or showing too much interest.
This is also why women tend to not want unreliable cars since they don’t want to be “stuck” in the middle of nowhere…Men don’t really expect to get raped I don’t think (or will feel lucky if they did)…
All that said, 3 kids, in an area you like in 1400 sqft isn’t too much space. Not being a fan of dogs, those are huge expenses with just 1 vet bill so if they age, maybe you can go with less dogs in a few years.
Also, with 3 kids, a wife and college, trips, events, etc… cashing in the equity is sorta a guaranty you will spend it.
With no pets and 2 kids and a wife, I already feel totally overwhelmed since the money call isn’t always yours to make in a marriage.
