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Original poster

Would you rather have more disposable income or larger family home?

117 replies

Lovinglife45 · 30/03/2022 13:32

I was speaking to a friend the other day. She lives in a large five bed house on a pretty street, good schools nearby, a beautiful park. Friend and her dh stretched themselves financially in order to have more space. This does mean they cannot go abroad for family holidays and have to budget tightly for clothes, days out, food shop. Friend is happy with decision as dc can have friends to stay over, they can lounge in garden, host bbqs, have a separate bathroom to dc.

I wonder if space is more beneficial and good for one's well being than having more disposable income.

Speaking from experience, I would rather more space as it is depressing and frustrating living day in day out in a small house. One small bathroom, poky bedrooms that can only accommodate a bed, wardrobe and chest of drawers, one downstairs living space (talking less than 900 square foot).

Would you rather have more money or space?

OP posts:
Cocomarine · 30/03/2022 13:37

When choosing my house after divorce, I sacrificed both size and immediate disposable income for pension contributions to retire early.

There’s no black and white answer, is there?

I’d choose space over money - but up to a particular amount of space.

Cocomarine · 30/03/2022 13:37

At which point, I’d be choosing money over space.

NeedleNoodle3 · 30/03/2022 13:40

We went for space with the hope that income would go up which it did.

Festivalpartygirl · 30/03/2022 13:42

Space, with the ability to downsize in later life, so we should free up some extra retirement income with our house. Although we still managed camping type holidays, sometimes camping abroad. I don’t think there is anything wrong with having a budget, it saves frittering money away and if you factor in pay rises / promotions, life can get easier.

Suzi9989 · 30/03/2022 13:42

Friends of ours their council tax is more expensive than mortgage!
Big properties comes with upkeep and high running costs...

I would rather have smaller moderate space and able to experience the world and holidays abroad. Not tied down by minimum money you have to make to sustain house/ property

What are your thoughts op?

GlitteryGreen · 30/03/2022 13:43

Definitely the space.

I live in a flat and if the last 2 years have shown me anything it's how valuable it is to have space in your own home, and particularly outdoor space.

Income can always change but once you're in a home you tend to be stuck there for a while at least.

Tsubasa1 · 30/03/2022 13:44

More disposable income

Aroundtheworldin80moves · 30/03/2022 13:45

Our home is quite small by MN standards. No ensuites, spare rooms, separate playroom etc. Its a sufficient size for 2 adults and 2 children. An extra bedroom and bathroom would make life more pleasant... but not noticeably so. Hobbies, a family holiday, a few extra weekends camping does add to life. Also the thought of being mortgage free in 6 years...

Talipesmum · 30/03/2022 13:47

I don’t think it’s just about having more disposable income - for me, it’s about living comfortably within our means without having to hugely compromise.

We are in a place that’s smaller, and we aren’t stretching at all. Though when we first moved here it was as much as we could have afforded. We could size up now, but although I’m paid well, the industry is potentially volatile and I’d rather live well within our means. It’s big enough though - I’d love more room but I’m happier not to be stretching ourselves for it. I’m pretty risk averse.

FiveGensOfLove · 30/03/2022 13:47

We sacrificed disposable income for more space a couple of years ago. No regrets. I’m so much happier. Will prob be in debt for longer, retire later etc but I’d make the same choice again today!

Original poster
Lovinglife45 · 30/03/2022 13:50

Suzie989

My first post:
**Speaking from experience, I would rather more space as it is depressing and frustrating living day in day out in a small house. One small bathroom, poky bedrooms that can only accommodate a bed, wardrobe and chest of drawers, one downstairs living space (talking less than 900 square foot).

I would rather more space, as one poster said, your income can increase and circumstances change too.

On one hand, I regret not stretching 15 years ago. We had no children at the time and I was cautious to hold back in order to afford the nursery fees. On the other hand, even with holding back we struggled while dc were at nursery. At least we would have come out the other end once dc had started school.

OP posts:
BangingOn · 30/03/2022 13:51

This is a very live debate between DH and I. Our circumstances have changed since we bought this house and we have less disposable income than we used to. We could downsize and be mortgage free, but we would be giving up a huge garden, paddock, no neighbours etc.

NeedleNoodle3 · 30/03/2022 13:54

We always went for it as far as moving was concerned, we didn’t overthink it and moved a few times in close succession. My thinking was long term a bigger house is going to be worth more so you have options. Also we moved to a bigger house to be near good schools.

Wnkingawalrus · 30/03/2022 13:56

I think there’s a tipping point with this stuff. Living in a two bed flat with two kids, I think most people would chose space. Living in a small house but with a bedroom for each kid and it becomes a much harder decision.

Not quite the same situation but we’ve decided to stay where we are and remain mortgage free rather than buy a bigger place. The kids have their own (smallish) rooms but with wfh we no longer have a true spare bedroom. We have a tiny garden, no drive way and storage is an ongoing challenge. But I’d still prefer the extra disposable income or saving each month.

Alarae · 30/03/2022 13:58

We stretched to get a bigger house prior to having our daughter, so now in a 3/4 bedroom semi-detached with a wonderful south facing garden. The mortgage went up by about £400 a month and we also ended up paying out another £15k on top for the move. We stretched to our absolute max on affordability on the assumption that our salaries would increase, which they have.

I don't regret it at all as our old house (3 bed terrace but small living room with a cold north facing garden) never felt like home to me. This house does as I love every bit of it.

Thankfully we don't really have many other commitments (£175 towards a CC which we used for our car) so we still have a decent disposable income, even with childminder fees now.

I knew we wouldn't have the affordability to move after we had a child so we pushed to move before then.

grapewines · 30/03/2022 14:00

Space and natural light.

ImFree2doasiwant · 30/03/2022 14:02

At the moment I'd go for more disposable income. I have a smal house by many peoples standards, a 2 bed end terrace. But the rooms are large, I have a garden and I live rurally with all the outside soace anyone could want. I am however, poor.

Thursday37 · 30/03/2022 14:04

We’ve bought extortionately expensive and small in order to get location. It’s location for me over all else. Space second, disposable income 3rd.

CornishGem1975 · 30/03/2022 14:05

More disposable income. I like to travel so I'd like more money to do that.

DaisyDozyDee · 30/03/2022 14:10

I wouldn’t stretch too far for more space than was necessary if that makes sense. I can live with out a utility room, an en-suite, a spare bedroom etc if it means better financial security.
There is a limit though. You need a basic level of space. I shared a room with my mum while I was at secondary school because of lack of space and I wouldn’t make that choice as a grown up.

Whatinthelord · 30/03/2022 14:11

I’d choose space, over disposable income up to a point.
My choice would probably be different if I didn’t have kids, however because I do I value space (and simple activities).

I wouldn’t make huge sacrifices for space though and my priority is financial security so I wouldn’t stretch myself to an unmanageable level to afford a larger house.

I would chooses a bigger house over a trip to Disney though!

SandysMam · 30/03/2022 14:16

The way prices are now days, lots of people are in small houses and still have no disposable income!

familychallenge · 30/03/2022 14:19

I bought a fairly large house in a nice area that is very close to my family, but it is expensive and I'm quite keen to cut costs. am debating whether to move a bit further out and maintain size and qualities (detached and a decent garden), stay in same neighbourhood in less nice house or stay in my beloved house and accept I will retire later! Haven't decided yet tbh but I do think it's hard to trade down, which is why so few people downsize even when they planned to!

Cecilia2016 · 30/03/2022 14:25

I would choose bigger house and that’s what we did 7 years ago and I’m glad we did it.

Alcoh · 30/03/2022 14:26

Space. We have a big mortgage. But kids are teenagers and they have plenty of room to study, do art and textiles projects and we have one room with weights in for me and DS. Also when prices go up they go up as a % usually. So I am looking forward to downsizing when the kids leave home and then cashing in!

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