A Complex Financial Decision, Serious Advice Only Please, What Would You Do?
Currently, we (wife, 2 children) live in a city that we love, the climate, the atmosphere, the people, etc.
I currently rent and am 1-2 years away from having enough money to either put a down payment on a home or purchase land and build a new home.
I own a house that needs remodeling in a different city which I do not enjoy (the opposite of where I live now).
In terms of finances, opting to live in a house I already own is the best decision, meaning a difference of many thousands of dollars saved by no longer renting besides the costs involved in purchasing a home in the future and the reduction of financial stress by having no mortgage or rent to pay every month. Ultimately, this situation could be leveraged to achieve financial freedom in a significantly shorter period of time.
Is it worth it? Would you exchange the environment you love in order to improve your current and future financial situation? If anyone has had a similar experience, please comment.