Need opinions...what would you do??? (LONG)

OK, here's the deal...currently, we own a house on LI. It's a big house, but we have tenants that live upstairs and we have the main floor, so we only have 2 bedrooms. Cassidy has been sharing our (very big) master BR, but it's just not enough room. For us to have more room, we'd have to kick out our tenants, and do a major renovations (lots of $$$$$$$$$, which we just don't have right now)
We are seriously looking into moving to N. Carolina, where we can take our equity from our house, and buy a 4 BR, 2 bath house that is 5 years old or less...OR we can rent a brand new 3 BR, 2 bath apt. in a relatives house, great school district here on LI.
In my mind, I know that if we stay here, we won't "own" anything...BUT I am VERY close with my family, and the thought of leaving, and taking my children away from their grandparents/aunts/uncles/cousins who they are super close with breaks my heart.
I am so torn, and go back and forth with what to do. I want to give my children a great life, but family is the most important thing...

Any suggestions???

Re: Need opinions...what would you do??? (LONG)

Well Stacy DH and I are going through the same thing now and although I love my parents, I have no choice but to leave to another state. We rent a tiny apt. and doubt we will ever buy a house here in NY. I know that it will be tough for everyone when we leave, but we will adjust. My mom has been of great support & tells me that we have to do what's best for Marissa. In the end it's a very personal matter and you need to weigh the pros & cons of it all. Sometimes we have to make changes in our lives that are difficult, but I feel like there is always a purpose and a light at the end of the tunnel. Good luck with what you choose to do!

Re: Need opinions...what would you do??? (LONG)

can't you live in your current house minus the tenants for the time being? obviously it is liveable. take it 1 project at a time and give set time frame (5 years) for completing the work/renovations.



eta: have you had your home appraised recently? you could always sell and downsize to a 3 bdrm, 1 family home.

Message edited 12/29/2005 9:20:41 AM.

Re: Need opinions...what would you do??? (LONG)

Stacy, I know it's hard. Trust me. We don't even own anything right now, but you do have a house that you own. Would you consider selling it and buying somethign like a three bedroom condo or a smaller house? The prices are actually coming down lately, and there's nice houses for decent prices these days. You could even stay in the town you are in, but in a smaller home. Not SMALL, just smaller. Your house is huge, and I know it would cost a lot to renovate, so maybe it might be worth it to look into selling and staying here, but downsizing. I wouldn't mind living in a nice three bedroom condo for the rest of my life. Think of all the things you and Jim wouldn't have to do, like take care of the outside and what not.
I know it's hard living here, and you know I would hate to see you guys leave, but in the end, I guess you have to decide, are you going to have a better quality of life here or there? You are just as close with your family as I am, and I know from experience that I could never live away from my family again. But maybe it's worth trying for you guys.

Re: Need opinions...what would you do??? (LONG)

I agree with the others that have suggested downsizing, but staying on Long Island. I also wouldn't mind a 3 bedroom condo, and there are some really nice ones out there. If you sell your house you would have no problem getting one.

I know I could never move that far away from my relatives and have my kids only seeing them a few times a year.

Re: Need opinions...what would you do??? (LONG)

Re: Need opinions...what would you do??? (LONG)

Can you make your large master BR into 2 smaller rooms - one for you and one for the baby?