Hi Everyone. I am posing a question and am just split in half about making a decision. The hubster and I are mortgage-free and have NO debt. We have paid off luxury cars, no credit card debt and no school/education loans. I am retired (age 48), but have a good pension coming in and the hubster is still working, but has 2 years to go until his retirement. Approx income is about 100K. We each have 2 retirement accounts in addition to our pensions, totaling about 200K and then have savings close to 100K. Our house is worth about 250K on the market right now and we are getting more aggravated with our neighborhood (lots of fire trucks, motorcycles and kids in racing cars). We could stay put, but any more improvements in our current home won't be seen on return if we sell - we are at the top of the market for our surrounding area. Our home is nice and financially it makes sense to stay put, but we would like to live in a nicer neighborhood. I have a home biz right now, so finding a place where my clients will follow me in the areas we like, mean most homes are about 325-450K. We know taxes will be higher but we are looking for our dream house. This is the question: does it make sense to make do and just do a few more improvements? Or just make the current home our dream house and spend another 50-75K knowing we wouldn't see it back if we sell? Or just move to our dream house and suck up the additional expenses? Most likely we would try to pay the new mortgage off in about 5-7 years. I also keep hearing the Dave Ramsay motto of just save the difference and then buy the house in cash, which would take us about another 3+ years of saving.
Thanks in advance for your input!