Do you buy a house with the intention of paying off the mortgage, or using it as a stepping stone?

[mrstea301]

I was just curious about the madness of house prices at the moment and was thinking about the process of buying houses etc. (I also have watched lots of Selling Sunset, Grand Designs and Location Location Location!)

When you buy a house, do you do so planning to fully pay off the mortgage in due course? Or do you buy something as a stepping stone where you can manage the mortgage payments for the foreseeable and can sell it when necessary and move on to something larger or smaller?

Didn't think that far ahead. Bought a 2 bed house at 23 and 24, sold it 5 years later for what we paid (so had some equity built up) then bought a 4 bed terraced townhouse in 2013 when we didn't want children. We now have DS and will have no more, plus only have 14 years to go. Quite fancy being mortgage-free at 50. That said I like a browse of 3-bed detached places on Rightmove.

I'm in my 2nd house, 2nd mortgage. First was to get in the ladder, 2nd is my final resting place, fingers crossed. I rented before this, but that was 25 years ago. Quite a different world, sadly. It would be so much harder now.

Bought our first property, a 2 bed flat, in 2015, when we were 26. Sold it last year and put 80k down on our current house (3 bed). We will be here a while as it’s big enough (only have 1 child) and we love the area, but it’s probably not our forever home. We are only 32 so a lot could change 😅

Bought my flat in 2020, partner moved in with me in 2021. I love it here as obviously it's my first flat but I reckon probably in 2/3 years time we'll be looking to buy a house together and start a family

1st House I bought at age 25 together with ex as a stepping stone.
2nd house was a cosy well loved flat that I bought in my thirties that was fine for me alone and single, and maybe fine for forever for me or me and 1 child.
3rd house I bought with DH while pregnant and I hope to stay here forever. I love this house and it really suits our needs.

Our first house we bought with the intention to be here a long time. The only thing I regret is it doesn’t have private parking, but that’s not enough reason to push me to want to move. It’s more than large enough for us, we have space to work, a garden, a sun terrace, and a kitchen diner separate from the lounge which is fab for entertaining. Plan is to pay off the mortgage asap but stay put.

@Waxonwaxoff0

But I've only had one child so I only need 2 bedrooms, a bigger house isn't necessary.

This used to be the case, but I think needs have changed what with working from home, and family living further afield, more space seems to be needed

For us at least we need a room which can be an office to WFH as
and then a spare room (as family can't afford a hotel every time they visit).

So we needed a 3 bed.