Next month we finish paying off the mortgage of 2,000/month on our home (we live outside ireland). Also, we are on year 10 of a 15 year mortgage on our holiday home in Ireland, we owe approx 60,000 euro on that. In 4 or 5 years we will be returning to Dublin and plan to buy a property there (we are retiring and that will be our permanent home). Other than the holiday home mortgage, we have no other debt. We have 30,000 euros in savings. Our holiday home mortage has been fixed for 10 years, we can review that for the remaining 5 years. We are paying rent in Dublin for two children of just over 1200/month and have another child who will join them next year. We had thought of using the 2,000 extra/month we now have to pay off the holiday home mortgage early (maybe using savings too). However, with rental accomodation in Dublin so expensive, would a better option be to use savings and our extra 2000 a month to buy our retirement home now and move our children in there for the duration of their studies, saving us the on the rent?