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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

To think being happy with a modest home should the norm?

252 replies

DinDinDin · 25/03/2024 09:45

Obv it depends on where you live and your income etc but pretty much every person I know either lives in a big house or is trying to trade up a modest home to try and upgrade for a bigger place. Some of these people can easily afford it whilst others are overstretching themselves to make it work. AIBU to think we are all (myself included) a bit too sucked into this upgrade mentality anf the fact that we always strive to have more stuff? I am facing the (very fortunate) dilemma of deciding whether to borrow the very maximum I can afford and stretch for a bigger home or choose a more modest option and aim to pay off the mortgage faster and be debt free sooner in life.
Do you notice the same attitude with people around you?

OP posts:
KalaMush · 25/03/2024 09:54

YANBU. In the days of almost guaranteed house price rises, it made sense to stretch yourself when buying a house because you would end up with an asset worth more. But now that house price inflation is uncertain and may be stagnant or negative, it's not a sensible idea.

FlabMonsterIsDietingAgain · 25/03/2024 09:50

Yes I agree.

We could and some would say should upgrade, we bought our 3 bed home 14 yrs ago for under £100k when our household income was under £50k, now our income has tripled, our costs reduced because we don't have nursery, and we have a decent amount of equity in the house.

But we don't need to. We like the area, we like the schools, we like the house. We're doing some refurbs and finally getting things like the bathroom replaced but the house is enough for us. Bigger would mean more cleaning and more stuff.

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