Should I sell my property and be debt free?

I don't know much about investing or real-estate but I am good with my money. As briefly as I can: I am a widow with 5 kids on a pension, I am currently studying and will be for the next few years. I have a 27 acre property, near a major city, which is worth about $700,000 but has $160,000 still owing, I don't have to make repayments for 3 years as I paid all my husbands superannuation off the loan. the property is a bit run down and does cause me some stress but it is quite liveable. My question is, from a purely financial point of view, am I better off holding onto the property or selling and buying a smaller house and being debt free? there are other factors of course, such as the workload , lifestyle, privacy but outer city properties will always be valuable. I realise interest is accruing on the loan but then the property is also increasing in value,how does this balance out? Thanks for any advice.