Laid off for 9 months. Got an offer in Mumbai. Should I look for opportunities in Bangalore or move to Mumbai?

I’m facing a difficult decision and would really appreciate some outside perspective.

I was laid off on June 25 last year and have been looking for a full-time role ever since. It’s been almost 9 months, and the situation has become very stressful financially and mentally.

For context:

• I’m 38, married, with a 5-year-old son.
• My wife is currently a homemaker and trying to start a small business, but there’s no steady income yet.
• We live in Bangalore, and my son goes to school here.

Since the layoff, I’ve attended 25+ interviews. Many went well, but I’ve often been rejected in the final rounds due to reasons like hiring freezes, companies looking for someone more senior, or wanting stronger managerial experience (my career has mostly been as an individual contributor).

For the last 4 months, I’ve been freelancing, but the income only covers basic expenses like rent and food. Most of my savings are exhausted prior to the 4 months freelancing.

Recently I expanded my search outside Bangalore and received an offer from a startup in Mumbai. The role is a Director level position in a service/design agency. My background has mostly been in product companies, so it’s somewhat new territory. The role would involve managing 6–8 people.

However:

• The salary is about 15% lower than my previous job. (Not my biggest concern)
• It requires relocating to Mumbai from Bangalore (not my home state).

The complication is my family situation. My son’s school year here ends in April, and we’ve already paid ₹75k in admission fees, with another ₹50k term fee due in April.

The real dilemma is that I can’t move alone first and test the job. If I accept the role, I’d have to move to Mumbai with my family fairly quickly and enroll my son in a new school.

So the two choices I’m struggling with are:

Option 1:
Stay in Bangalore, continue freelancing, and keep searching for product roles here (where most opportunities in my field exist). Am expecting another freelance work which equals to the same pay in Mumbai offer.

Option 2:
Take the Mumbai offer, relocate my family, and step into a new type of company and leadership role — hoping it works out.

My fear is that if things don’t work out with the company, I’ll have moved my family, disrupted my son’s schooling, and made it harder to return quickly since most opportunities are still in Bangalore. At the same time, staying here without a stable job after 9 months is also becoming very difficult.

Any help to process this would be appreciated!