As someone who has relocated at least a couple of times, and at different stages in life (last relocation was to a brand new state where we had no established network, and we had one kid in daycare and a second on the way), you'll want to think about your priorities and maybe make some sort of plan about how you'll tackle the biggest potential issues. I do not regret my relocations, but that's not to say that everything has always been easy (or worked out as planned -- COVID, oof!). If doable, talk to people who live in the area (and ideally, who work in the same company/industry) to get a sense of what to expect. I did exactly that before my moves and it really helped me.
When it comes to kids and schools - they are surprisingly resilient, so as long as you are supportive and attentive when in their new environment, they are of ages where they'll still be able to adjust relatively quickly. If you do make the decision to move, just start talking to them about it before it happens, that helps immensely with change.
The network/family issue is a bit tougher. For some people, family or a close network is a non-starter -- if you are less rigid, like we were, then think about some ways that you can meet people. For us, we talked about the kids' schools and other meeting other parents, meeting people at the offices where we would be, meeting neighbors, looking for affinity groups or activities (e.g., run clubs, gym classes, hobbies, etc.). We were fortunate that we moved from one metropolitan area to another -- so there was no "downgrade" in quality of life for us, which was really important as well, since we would have access to a lot of similar things that we enjoyed previously (large restaurant scene, a beer brewing scene, lots of parks and outdoor spaces, cultural events, etc.). Do think about things like availability of babysitters or caretakers, since I assume you'll want to eventually be able to go on dates or adventures with a significant other -- that has always been the biggest struggle for us!
From a financial perspective, it sounds like you've done the math and would be ahead, and of course that brings a lot of relief. I'd make sure you're including any new costs/expenses in your considerations as well just to have a realistic picture of what it'll mean for you and the fam.
From a mental health/professional satisfaction perspective, sounds like a no-brainer. We spend most of our lives working, it makes sense to do so in positive environments!
Ultimately, even after all your considerations, you'll have to go with your gut. But whatever your choice, go with conviction and don't look back :)
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