Sydney upgrade vs. Melbourne move — need advice (33yo couple, young family)
My situation:
Me & wife, both 33, Sydney. One kid (1 yr old), planning a second next year.
HHI- 280k
Current home: Sydney townhouse, worth $900K, mortgage $500K (equity ~$400K), below avg public school
Investment property: Townsville, worth $880K, mortgage $580K (equity ~$300K)
Stocks: $150K
Combined super: $200K
The dilemma:
We've outgrown the townhouse long-term and want to upgrade — but torn between upgrading within Sydney (expensive, but keeps our network/jobs/schools here) vs. relocating to Melbourne for a bigger place and potentially faster wealth-building, even though we don't know many people there.
What I need help deciding:
Over the next 2-3 years — stay in Sydney and upgrade here, or move to Melbourne? What's the smarter path for building long-term wealth and family stability?