Do people but houses for status?

[mids2019]

I have family in a large city who had a really nice detached Edwardian house in a really good area (well known), 4 bedrooms, good schools etc

Now they have moved to a larger property in a very desirable part of the area (again very known and peppered with 5M+ properties) and it seems they have just moved to get the postcode and a little more room not that it was needed. I think they are more than happy to tell anyone of the area they now live in and I think they want to project a face of 'we have made it life ' with the purchase.

Just curious do people but honestly with pragmatism in mind, enough bedrooms, garden, good schools, low crime rates etc. or is there a point where it's all about the status?

(obviously the aristocracy have done this for centuries but is this a bit more universal?)

Just to say guy in family is competitive and I think there is a family culture of house = success)

I see nothing wrong with wanting to buy the nicest house you can afford, and so what if they wanna brag about it? I assume they've worked damn hard to get there so let them enjoy it

I think people often want to move to better areas or bigger houses and this specific example seems to have given both. If they’ve got the money, why not? Plenty of people live in homes that offer more than the necessities.

They may also have had an annoying neighbour, constantly barking dog, any number of things that prompted a move.

I dont disagree but the previous house was more than adequate. They do work hard and I am curious if your house is actually a public presentation of success rather than something more functional.

In terms of enjoyment the house is fairly similar to their previous address but he particular corner the new house is in was always known as the place to live in town

I am not moralising just curious at what point your house is a status symbol. In this case it does seem to be about status and there is tacit bragging about the location

The best investment is to get the best house you can in the most sought after areas, so that can be a motive.

I dont disagree but the previous house was more than adequate

Maybe it wasn’t for them? Or they didn’t want just adequate?

Are you jealous? Is that the reason for this post? I don't see what the issue is otherwise

I dont disagree but the previous house was more than adequate.

Maybe they can now afford more than adequate 🤷🏼‍♀️

We've just moved from our 'more than adequate' house to a bigger property. We did this because we're in a position to buy this house and it's an investment for our DS.

People have made similar strange comments to you OP. We've not done it for status, we've done it for quality of life and future planning.

People do like to show off how much money they have, yes. Social climbing, I think they call it.

I've never understood it myself. Why waste money on something more expensive just because it is flashy and you want to impress people? What you already have is absolutely fine and suits your needs.

Of course they do OP, people often want a visually impressive house.
I'm with you on this that truly, i don't a bigger house although we could comfortably afford it, because the one we have has everything we need? We have a spare room and don't need a second spare room, we have a big garden etc. If we bought a bigger house it would just be sort of more if the same and i honestly don't think we'd use the space so it would purely be about having a big showy impressive home and tbh we aren't fussed 😂
Same goes for cars. People claim you are paying for superior quality /longevity with luxury cars but my basic non premium car has been perfectly consistent and reliable for over a decade. Most of it is people just want to other people to be impressed with the car they drive because everyone knows audis/mercs/range rovers cost a lot.

I can see the investment motive but equity returns can be better?

It's harder to brag about investment funds as they are not visible and it's crass to talk about money as just cash.

Used to work with someone who lived in Sale, Cheshire. Another colleague who had done deliveries for the PO pointed out Sale (desirable) had the same postcode as Wythenshawe,Manchester (less desirable). There was an argument and bad blood after that. Needless to say some teasing as well. The Sale resident hadn't worked hard to be lumped in with those people!!

I think living in a more pleasant area with a lovely house is something people aim for - I don't think it's purely done for status (unless you're buying a house / flat to not use in a lovely area, then it would be more status driven!).

If people enjoy the house, the area it's in and can afford it - I wouldn't think twice about people moving. We're "adequately housed" in a nice area, that doesn't mean we're never going to move somewhere bigger or nicer.

But people also need somewhere to live 🤷🏼‍♀️

For us our move wasn't just about an investment for our DS but was a slightly higher quality of life now.

Why wouldn't you buy a house in the best area if you can afford it? That's what most people would do surely? It's just that many people can't afford to do so. It's the same as asking why people buy a 4 or 5 bedroom house when a 3 bed is "adequate".
As for the status symbol thing, it's not about that per se, but I think that's connected with house buying for many people, no one wants to think they're living in a boring small house in a not so good area, but many have to. You need a certain level of income and funds to buy in the best areas, so if you have that you're likely to want to live in those areas and if that makes you feel you've achieved something then I can't see the problem with that.
As a child I lived in a nice 4 bed detached on an estate in a lovely village which had plenty of space for our family. After about 15 years my parents had saved and could afford to buy a beautiful old house in the village which they'd always liked the look of, and did so when it came to market. It wasn't anything about status, they just loved the house. It was other people who seemed to be concerned with status as they had several comments about moving to the "better" part of the village, and it appeared to elevate them in other people's eyes.

My last house was more than adequate but there were things about it that eroded my enjoyment - a large tree belonging to a neighbour that drained the soil and made it hard to grow stuff, people use to block my driveway due to a nearby Pilates studio etc. my next house offered more space, bigger garden, better location. Not strictly required but I’m much happier living here. You probably just don’t have the full picture (and you seem to dislike these people anyway!).

Ah, the green-eyed monster…

That isn't as bad as people who collect multiple properties. I have a family member who thinks they're the local genius because they just sit on their arse, profiteering out of being a landlord. In fact they were initially a 'slumlord' but tried to move up in the world. All this while claiming everyone else is a bone idle twat who doesn't deserve a roof over their head. Wearing the Rolex, sneering at me for being on benefits. He won't even give his own kids a discount on the rent so they could have one of his many (empty) homes?! That to me is weirder than trying to move from one nice place to another slightly nicer one.

Yes. We have a fab house. About 3500 - 4000 Square feet. Arts and crafts style, private road, 1/2 acre. We are approaching mid 60s and the children have flown.

Last weekend the best house in the best local road came on the market. DH wanted to arrange to view it. He took a lot of talking down. He was brought up very poor. It matters to him.

I guess with cars for instance you do have status models which do the same thing I e. transport you from A to B but there are more luxurious models. I suppose status is a factor.

I don't think it's envy from my point but maybe just an understanding that this is all about status rather than some material real comfort benefit e.g. if you moved from a 6 bed house to an 8 bed house with 2 children

We’ve just done what many on MN suggest older people should do- downsized. We’ve gone from 4 to 3 bedrooms and a smaller footprint.

We did it because I don’t want to clean a big house any more and we wanted to have some money left over, because the upkeep was huge. Interestingly, we moved areas slightly, to one which is now regarded as more upmarket and so the house may well do better longer term, than the one we left.

Council tax is just over half, car and home insurance are reduced and we have a bit of a cushion to help with heating costs.

It was a question of finding a house we wanted, rather than anything else, but the bonus of a better area has been a benefit.

@RosesAndHellebores

I find rh psychology fascinating and I hope I am making an observation rather than criticism. I am not advocating Marxism.

I just think there is part of us that wants to show a display of wealth , it's in our DNA.

I for instance have significant investments but wouldnt leave my statements around to impress. However that is just me

It's the moving from a good house to better ones where there isn't a tangible change of life quality that I find curious

But you have to define life quality. My DH is very ambitious and very driven. There is something in him that drives it. I think it's the memory of living in a poor area, going to the local comp and hearing his mother say on rinse and repeat "that's not for people like us". He wouldn't leave out a bank statement and isn't blingy.

What's wrong with wanting a visually impressive house? Making the biggest purchase of your life (probably), there's nothing wrong with wanting it to look good.