Quick question to tap the collective wisdom of the forum.
We own a fixer-upper in a fabulous part of Melbourne. We will be moving into it soon in it's un-rennovated state and we will be mortgage free, for a while.
It's a great location, 7 KM's from the CBD, 450m from the train station, with off street parking and close to trendy cafes, restaurants and bars.
We bought it 7 years ago and have held it as a rental until recently.
We will be able to perform a substantial renovation for cash and turn it into a very nice house.
We then had a baby, which was something we did not plan on doing, but thankfully changed our minds on.
We wish to send our DS to private school. This means that Mum will have to drive a total of 2 hours per day for drop-offs and pick-ups, until he hit's secondary school, where he can take the train. By train school is around 25 minutes away.
So my question to you lot is. How long is your kids commute to school? Do you think say 1 hour per day total for the child is too long?
If I sell this place, I will have around $800K of cash in the bank. I could then afford to purchase closer to school, but, nothing up on RE.com is as good or as nice as the house we will renovate.
I guess it's a good problem to have, but over to you lot to hear your thoughts.
We own a fixer-upper in a fabulous part of Melbourne. We will be moving into it soon in it's un-rennovated state and we will be mortgage free, for a while.
It's a great location, 7 KM's from the CBD, 450m from the train station, with off street parking and close to trendy cafes, restaurants and bars.
We bought it 7 years ago and have held it as a rental until recently.
We will be able to perform a substantial renovation for cash and turn it into a very nice house.
We then had a baby, which was something we did not plan on doing, but thankfully changed our minds on.
We wish to send our DS to private school. This means that Mum will have to drive a total of 2 hours per day for drop-offs and pick-ups, until he hit's secondary school, where he can take the train. By train school is around 25 minutes away.
So my question to you lot is. How long is your kids commute to school? Do you think say 1 hour per day total for the child is too long?
If I sell this place, I will have around $800K of cash in the bank. I could then afford to purchase closer to school, but, nothing up on RE.com is as good or as nice as the house we will renovate.
I guess it's a good problem to have, but over to you lot to hear your thoughts.