Would you move?

Bought a home in 2015. We have about $360K left on a beautiful 2.8% interest rate mortgage. House appreciated +$400K since then and is worth about $1M now.

We don’t live in a town with good public schools so we are paying a total of ~$19K in private school tuition for both kids and we expect to pay this and more if we keep them in private schools. Taxes in my town are cheap (~$5K a year)

I’m proposing to my husband that we move to a better town and buy another home at the same price point. Wed have to downsize a bit to stay within this price point but we’d be trading in a town home for a single family home.

So we’d basically be taking out an identical loan at a 7% interest rate. Mortgage will be $1K more due to higher interest and slightly higher taxes.

Would you move for better (free) schools or stay put? Would it be dumb to sell a home with such a low interest rate 😭? Really the only thing pushing me to move is for better public schools.