ChiSquare1963 t1_iug8i7u wrote on October 31, 2022 at 2:10 AM

The finances look pretty good in this scenario. If moving is going to improve your life by being closer to family and in a city with less crime, the relatively small financial hit is worth it. HCOL areas often have benefits like lower crime and better amenities, which offset the cost.

Consider whether you want to do a 15 year, 20 year, or 30 year mortgage. Interest rate is slightly lower on 15-year, but you may want the flexibility of a longer mortgage. You already know how to pay extra if you decide that the flexibility would be useful.

FadewayThrow OP t1_iug98za wrote on October 31, 2022 at 2:16 AM

The area is certainly nicer and a better area to raise a family in. I think I would rather have the flexibility of not having a mortgage looming over my head with a 15 year. And at these interest rates, other investment opportunities are going to yield similar results.