Am I making a mistake?TLDR; Wife and I got very fortunate and were able to buy a home right when COVID hit at a favorable interest rate (3.125%), we fell in love with a new home and are considering consolidating most of our savings to upgrade. Hi everyone!! Long time lurker first time poster. My wife and I (27M/F) are about to make a significant decision that I’m comfortable with, but have a weird feeling is a big mistake, looking for some outside perspective.We live in a very HCOL area and have had multiple strokes of good fortune. We were able to buy a starter townhouse at 3.125% in 2020 that has appreciated by ~300k, and due to some savvy (lucky lol) crypto investments we have a very healthy nest egg invested in retirement, traditional investments, and some crypto.We’re expecting our first child and have been passively keeping an eye on the market for an upgrade and somewhere we could plant roots/settle for the long term. We’ve recently fallen in love and are planning on putting in an offer this weekend. To be competitive, we’d have to sell our house and liquidate effectively all of our available investments (~200k in the market, 100k in ETH), as well as sell our current house. We still have ~125k in retirement accounts and a 529 that’s being funded. We’re blessed with well paying jobs we’ve been successful in, so I’m comfortable with the payment and slowly building back up our nest egg, and I’m already aware of the fact that we’d be giving up a low interest rate which stings, but am I missing something significant other than having less diversification in the short term and a higher interest rate overall?? Any feedback would be appreciated! via /r/personalfinance https://ift.tt/VYjvxaP
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