Thanks everyone, food for thought then. There may be a way and I’ll need professional advice. I know what you mean Marc about not being able to part with family home but we have just finished the most divine reno and are up to our ears in debt… we know we can sell it for a good price because of location.

We decided while on long service leave this year that “home is where we are as a family”, not the family home and we can downgrade our living standards for long term gain. The kids (aged 10 and 12) are even on board!

We are thinking of maybe still buying but shifting “bracket” from the 600K+ down to the 350k range. We are in a regional centre, so still achievable. The other option is to sell and rent, releasing all the equity and get rid of personal debt.

Any further thoughts from you all would be gratefully received.
Anita.