DP and I are in our early 30s and bought our house a couple of years ago.
Before we bought we lived in London, but when we bought we left London so we could get more for our money and a decent sized garden. We still live in the South East so still very expensive.
We decided to buy a 'forever' home so we went for something that will be big enough if / when we have children as obviously moving and paying stamp duty is so expensive we decided to buy something we could potentially stay in for a long time. Also we have bought in a nice safe area which is within the catchment area for decent state schools, so if / when kids arrive we won't be forced to move again. This seemed like a sensible thing to do at the time. We did push ourselves to buy the best house we could afford, without being extravagant (it's only a three bed house, not a mansion or anything!).
We both have good jobs and earn good money and we did our sums carefully before we bought the house to make sure we could afford the mortgage repayments and also to make sure we could still afford them if interest rates go up (which they will at some stage) or if our circumstances changed slightly. We also both have income protection insurance through our jobs too.
However I am just a natural worryer I think and can't help but sometimes feel a bit sick at the sheer size of our mortgage repayments, especially when I speak to friends up north who have mortgages a couple of hundred thousand less than ours. I know it's just because the South East is so expensive and because we decided to stretch ourselves to get a family home rather than just a flat, which will hopefully prove to be a good decision in the future.
Am I alone or does anyone else feel like this too?
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Does anyone else worry they have over-burdened / over-stretched themselves with their mortgage?
15 replies
JessyLou32 · 08/02/2013 13:31
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