LA I think you captured it very well. You do get more home for the money in SEH. To the OP I am not a huge fan of Madiera but that is simply personal preference as I know a few people who have purchased there and do like it alot. Same with Andalucia. I do not hear many completes from either the 4S buyer or the SEH buyer as most of them that I know are in your boat and finding a neighborhood where they feel comfortable raising the kids was the prime directive for the purchase in the first place.
As for bringing up the family I think both of the areas you are considering are more family oriented to where you currently live. As for timing… well that one is a tougher question as we have reinflated a bit already. So the question really boils down to can you afford it and how much is the lifestyle change worth to you. It is always a tough call.