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Are you speaking about short selling your home? If you are then you will have to wait and re-build your credit before buying in that other area with improved school ratings.
You can always rent in the area you will eventually live.
Here's a site that can help you decide about the schools: http://www.greatschools.net
Yes I think your plan can work and I would add that homes in areas with excellent school districts also appreciate more, and are in higher demand then those in "not so good" locations. Best of Luck to you!
Forget the feeling, the numbers never lie. Do all the math... twice. Selling for a loss always sounds like a bad idea to me if it can be avoided.
Here's another thing to consider when you're doing the math. If you're going to be long term owners wherever you live and have already been in your home five or ten years, you've probably already paid well over $100k in front-end loaded interest payments. If you move (or refinance) you get to pay another huge chunk of interest without paying down much equity for another ten years. This is the 500 pound gorilla that most people don't consider when they refinance or move. Best of Luck.
Great idea. Your money will go further now and rates are good and plus you'll save money in the long run on schooling. I think it makes perfect sense. Homes in the better school districts will usually go for a better price.
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