Move next year or wait?

doesnotcompute

Hi all, 
My wife & I were planning on selling our current house next year, using this year as an opportunity to do it up and get it ready for sale and move to somewhere a little bigger.
Now with all of what is happening, happening I'm not sure if it's the right thing to do? There's talk over heading into a global recession and with that comes job risks and other risks that I don't know what the best course of action would be.

To give a little context my wife and I both work, and can currently afford to move to a more expensive house but id be concerned about paying for everything should one of us lose our job.

Bossypants

Next year is almost nine months away, why not wait and see how things actually fall out (for the two of you personally as well as in general) before starting to think seriously about it? Certainly there's absolutely no point worrying about it now, when so much could still happen between now and then.

doesnotcompute

Thanks for that! The reason we was thinking now is that if we decided to stay for the next few years until everything calmed down and went back to normal we'd consider this when planning updating the house.

It 100% needs doing regardless, but if we're selling soon we'd go with standard/cheaper finishes and options but if staying opt for more quality and expense as we'd be very unlikely to make any of that extra cash back in a sale.

Bossypants

Why not start saving up and thinking about what you'd like now, but hold off on doing anything until the end of the summer? It's only a few months away and by then we should have some sort of indication of the way the world is heading. Then you can decide whether you want to stay put and blow the whole pot on upgrades, or whether you'd rather move, in which case you can just spend the minimum and keep the rest for your new place.

Honestly, though, almost the entire world is on pause right now, and not one person knows what things will look like in six months, never mind next year. I imagine it's super frustrating for those trying to plan for life changes, but really the best thing you can do for now is hang tight.