When do you know you have enough to relocate?

Hi all


I was hoping to get some thoughts on this subject:  We live in a big city and earning very good salaries. We are in our mid-thirties and are hoping to move back to the countryside to be next to our families (and hopefully have children)

We have enough to purchase 50% of the house cash as well as a solid emergency fund (We won't buy the house cash as the interest on loans is really good for buyers) so we feel we are in a good position.

My partner can relocate without any issue, I may have to quit my job if they don't allow the relocation (strict policies) 

Where we are looking to move to is cheap, we could live on my partner's salary alone and pay the mortgage and I'm confident I will be able to find a good job there.

Any tips/Suggestions? Why am I so scared around our budget while excited to move back home?

Thanks for reading

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  • Do it! You answered your own questions. I personally would just put 20% down on the new house which would give you even more security as far as liquidity is concerned while you look for a new job if necessary. You can always put more back into your mortgage later if that's your choice. I personally would rather invest it than put it into an approximately 3% mortgage.

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  • How exciting! I definitely understand how scary a big change like that can feel, but it sounds to me like you're asking all the right questions, which is a perfect start!

    My partner and I made a similar move during the pandemic, and while the market was crazy, it still felt right to be closer to family, and it's so nice to be somewhere the cost of living is lower, too.

    It can definitely throw the budget for a loop, though! We just considered that a great chance to make a fresh start and reprioritize our money a bit. My biggest tip is to ask everyone about the unexpected expenses they ran into when home-buying! 😱

    Whatever you all decide, keep us posted - we'll be here for guidance and cheerleading!

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  • Thanks everyone, definitely a scary move and exciting. I'll browse for topics around buying a house and follow the advice Rachel. Thanks!

    I will keep you posted

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