🔺 r/personalfinanceuKouignQueen·68 days ago
Would you sell a house with a 2.5% mortgage in our situation?
Need an outside perspective. What would you do in our situation? My wife and I are both in our late 20s with three young boys. We've been going back and forth on a big financial decision and I feel like we're too close to it now. I'd love to hear what people would honestly do if they were in our shoes. Here's our situation: House would likely sell for around $675k–700k. We'd walk away with roughly $450k cash after paying off the mortgage and other costs. We have a 2.5% mortgage, which is obviously hard to give up. We also have a small second mortgage, some credit card debt (0% promo), and an IRS payment plan. Nothing is unmanageable, totaling around (30k) but we'd love to simplify everything. (We thankfully have changed past behaviors and continuously have paid off debt. Combined income is stable, and both of us have work we can do remotely. We also have a small business that provides additional income. We aren't trying to retire early. We're trying to create more freedom and spend more time with our kids while they're young. The part that makes this more complicated is that we're seriously considering moving overseas for several years. (A goal we've had as a family for a while). T…