Home Upgrade delimma

Home purchase dilemma: upgrade now or wait?

I’d appreciate some outside perspectives on whether I should upgrade my home now or wait. • Household income: ~$410k (combined, with steady growth expected). • Properties owned: • Main residence: worth ~$1.3M, loan ~$650k. • Rental property: worth ~$800k, loan ~$700k (rents for $650/week, negatively geared). • Equity in business: ~$480k value, with a $350k loan attached. • Total property value: ~$2.1M. • Total loans: ~$1.7M, average interest rate ~5.25%. • Monthly repayments: ~$10,000 across all loans.

The dilemma: • Rates are high, which makes cash flow tight. • Property prices still seem to be climbing, so waiting could mean paying more later. • Lifestyle upgrade vs. financial prudence — part of me wants a better home circa 2.5M but I’m also thinking about debt reduction, ETFs, and growing my equity stake.

For those who’ve been in a similar position: 👉 Did you upgrade your home during high-interest periods, or hold off? 👉 How do you balance lifestyle improvements with long-term financial goals? 👉 If you could go back, what would you have done differently?

Any insights would be highly appreciated!