Housing dilemma... What would you do?

[zebranotzeebra]

In a nutshell, this is the decision we're facing (me, DH, a toddler and hopefully another child in a year or so).

For context, both of these options would be in the same suburb, with access to the same good catchment schools and amenities.

Option 1: more modest type of three bed semi, with small third bedroom, some we've seen have a conservatory/an extra WC downstairs which is handy, but not all. This option would allow room in the budget for holidays and days out etc., but may require another move in the future as children grow.

Option 2: max out the budget for a 4 bed/more useable 3 bed that we could stay in longer but which would severely limit our budget day to day with little money left for extras or holidays.

DH and I sit on slightly different sides of the fence with this one (though we're both open to the other option). Just curious what most people would do...

It's worth stretching if you know incomes will increase so you don't have to move too soon down the line, but if you'll likely stay part time for a long while and if salaries aren't likely to increase by much I would prioritise lifestyle.

Smaller should be fine if promotions/pay rises/full-time work is a long way off. A new baby can go in the boxroom, then chances are they can share the 2nd bed for a good while too. I had always thought mine would have separate rooms, but they were both boys and actually didn't want to until they were teens. By then, we'd got the loft extension done so they could have the two big bedrooms on the first floor, we got a master suite in the loft and the boxroom is a home office.

But definitely good to get one with downstairs loo and extra space/conservatory if poss. The living space matters more with kids, room to play and escape into.

Thanks all, some good food for thought. We're early-mid thirties, both fairly secure jobs but not super high earners. I wouldn't envisage being full time again until baby 2 starts school so 6-7 years time potentially. There's a dire shortage of teaching jobs where I am just now (central belt Scotland) so unlikely to be feasible much sooner anyway.

I wouldn't rule out maxing for a house I love but this has also reassured me that a smaller house could work well, as long as it did have adequate space. Will need to see what come on the market in the next few months.

We maxed and my friend didn’t

We paid 280 now worth 425
she paid 180 now worth 250

Its worth considering.

As you’re a teacher you have options for supply work and coaching.

You could catch for twins - like I did.

Kids don’t need massive amounts and some months we were skint but always found good ways of entertaining them in the holidays etc.

Smaller, so you can afford to live

We went for smaller and tbh I regret it because day to day living is awkward- always having to move something to get to something else (e.g. move chairs around in order to be able to put the ironing board up, have to store the pushchair in the car), kids can't have friends round because there is only room for one sofa/we can't seat guests. Mind you part of the problem is that my office closed during Covid & never reopened locally (they moved 40 miles further north) so I've had to shoehorn working space into the house too. On the other hand maybe I would have regretted the bigger house, you don't know until you've lived it!

Max out- don’t want to have to move in 5 years and pay a load of stamp duty. Max out and work on earning more

I would choose the smaller house. It's important to enjoy life and be able to do things, and holidays as a family make lovely memories.

Smaller house with downstairs toilet. The kids would enjoy holidays more than extra square footage.

Depends how much smaller

As soon as it's big enough is what I would aim for - more spending money , more saving money , less cleaning, less maintenance

But think hard about your stuff - can you work out where your sheets and bins go that sort of thing

We saw 5 houses - two were bigger and 2 smaller

I'd go for option 1 - just make sure the smallest bedroom is a comfortable size so you wont necessarily need to move again ie fits a proper bed not just a cot/toddler bed.

I've raised four children in a three bed where the smallest bedroom only fits a single bed and bed side table. I only have one downstairs toilet and bathroom in the house. I split the biggest bedroom into two so they each had their own space. For a few years the youngest two shared the middle room and I had the small one. Once eldest moved out I moved into the middle room, youngest had smallest room and the two middle ones had the split room. Not perfect but we managed. We have a large garden though so space for a caravan and outdoor rooms.

I think having the financial freedom to do other things is important.

I would max out. We did and looking at other friends who didn’t, I’d say we made the right choice. Lots of DDs friends in smaller houses struggle with clutter and they’ve all ended up deciding to extend anyway with all the stress that that entails. I’ve always been glad to be able host Christmas and Halloween parties etc for the girls and their friends. It’s also nice that the girls have a room each and we still have a spare for friends/family when they stay over.

Would the compromise be to buy a smaller property with room to extend?