To ask 2 adults 2 teens - what size house?

[ftb1]

Ok.
I'm early 40's and live in the South East. I've never been able to afford to buy but have recently inherited a sum of money which will enable us to buy (not out right). It is sad that we've had to suffer a bereavement for this to happen.

We currently rent a small three bed semi, the smallest room is a box room.
We are pretty minimalist so resist the urge to buy too much stuff. Even so, we struggle with space. We are looking forward to buying.
We've started looking at properties and the lowest end of our budget would enable a detached three bedroom house each with double bedrooms. The top end of our budget would enable us to have a four bed detached with a study ( I work from home) which is very tempting. Our eldest is 17 so will leave home in the coming years. Youngest is 12.

I keep thinking to go forna property at the lower end of our budget as it would mean we have more cash available to enjoy life and help out two boys get in the property ladder when the time comes. We're not big earners and happy to drive old cars but we buy them with cash. We don't have any debt.

So, for those of you with a similar size family to mine what sort of size property do you manage with? I am so looking forward to having more space than we currently have but likewise I want to try and moderate ourselves and think about how our family will change over the next few years if that makes sense.

Ps - sorry for typos. I typed this on my phone and prefer a keyboard. I have sausage fingers!

I’d go a 4 bed so both the kids have a decent bedroom. You could make the box room into a snug for them or a hobby room / office for yourself

I would go for the 4 bed detached at the top end of your budget because it'll gain in value plus with teens you need space. Also, lots of youngsters can't afford to leave home at 18 so stay longer.

Use all of your inheritance as the deposit and then get a mortgage to cover the rest. Look at your household budget & make saving by switching deals etc. Then use the savings to overpay your mortgage to bring down the repayment term for when you next remortgage.

We are in three beds with a box room but we do have a conservatory where I work April to November. I move to the dining room table for winter when it becomes too cold. The box room is not ideal but it’s ok. Stops the kiddo from hanging in her bedroom all day. She can use my office for schoolwork and we, otherwise, hang out in the living room.
Since one of your kids is about to leave home, I think 3 beds should be plenty in coming years and you could convert the box room into the office. It’s nice to have more space but I’m not sure I’d be willing to stretch myself financially when the problem is temporary.

You say 17 yo will move out soon, I assume you mean Uni? But they'll be back for holidays for another three years and may well move home afterwards.

So I'd either go for a three double bed with ample space downstairs for a study, or go for a four bed.

How many bathrooms does the 3 bed have? I think you 2 bathrooms would be my preference. Also is there space for you to work in the 3 bed?

If there are 2 bathrooms and room for you to work then I think I would go for the 3 bed.

I would compromise on "detached". More space for your money in a semi.

@SleepingStandingUp
Sorry - I don't mean that soon. He will be off to Uni in the next year and I expect him after that to live here for as long as he needs. I just mean that it is not like we have to young children who will potentially be living with us for the next 20 years if that makes sense.

We have a 3 bedroom home. 2 kids & 2 adults. The kids rooms are doubles so they have all the space they need.
I wfh but just have a desk downstairs we have 2 lounge areas downstairs so we have plenty of space.

Personally if they have decent sized bedrooms I would be happy with that and go for the lower end of your budget. My DH and I have unfortunately both lost a parent in the last 6 months & he will be getting a large inheritance. I will get some but much smaller but it's made us reevaluate what's important. I think inheritance is a very mixed thing....obviously having the money is helpful but the reason for receiving it would never be welcomed. I have struggled with how best to utilise the money and have reconciled that both parents would want us to make life better for us and our kids. We have considered moving house but we've decided to sort a few bits out on this one & enjoy things. It will be nice to not have to worry so much about money. To be able to have experiences with the kids, travel, buy their first car etc.
Maybe go and see a couple of houses and see how you feel then.

I would always go detached if you can. If there's a decent size garden could you put a home office there? With good insulation it will work really well.

@ Where the heck is summer.
Both properties have two bathrooms
And a downstairs toilet. Our rented property has one bathroom and a downstairs toilet.

Kids don't leave home these days. Sadly!

Where would you work in the 3 bed?

I would buy whatever suits you current needs the best rather than trying to ensure you can help your children get on the ladder. Realistically, will the difference in cost of 3 Vs 4 bed be enough to make a significant difference to both your children's chances of getting on the property ladder? If not, it might actually help them more to have the extra space in the house so they can stay at home for longer than they maybe would have otherwise and save up for a deposit of their own.

Either way, whichever decision you make will be a good one! You're choosing between two very good options, so there is no bad decision to be made.

@CrotchetyQuaver The three bedroom house had kitchen large enough for a dining table, a lounge and a formal dining room.
I was thinking that we could use the dining room as a study/ snug. So have a desk but also a sofa, Tv so it is another living area. We would never use it as a dining room except perhaps at Christmas.

I was one of 3 kids, 2 adults. Grew up in a 3 bed semi (3rd bedroom was box room). Sister and I shared and managed to survive without being mentally scarred for life even though MN insist kids/teens need their own rooms!

Can you give us some figures. How much would you need to borrow for a 4 versus 3 bed?

For extra info - the amount we would need to borrow on the 3 bedroom would mean we could clear it in 10 years, we would need to stretch the 4 bedroom to 15 so that the monthly repayments wouldn't be so high. But still manageable either way.

This sounds like plenty of room so I don't see any compelling reason to stretch yourself, you could WFH in the dining room

The 3 bed sounds ideal!

Double bedroom for each DC. Dining room turned into office for you/snug when you're not working.

Don't under estimate how good it will feel when your home is paid off 5 years early.

@JuneSoon Thanks for this. Yes, that 5 years is very tempting.

We were a family of 4 (2 girls) youngest happy with her box room. However 5 years ago eldest daughter’s boyfriend moved in with us bringing is to 5.

We did well to cope for 3 years but with 2 adult couples in one house we were seriously cramped. I was having a craft room built in the garden and offered it to them as their space. With hindsight maybe if we had not made them so comfortable they would have moved out into rented.

Its now been 5 years since the boyfriend moved in . They anticipate moving out in a years time. They will be 30 and 26. I know I will miss them when they go but also Jesus Christ I need my house back.

OP do not think your 17 will automatically be off your hands any time soon!

I would opt for the 3 bedroom house if it has all double bedrooms and 2 bathrooms. Presumably that will be lower council band for tax. I would use spare cash for some great holidays.

We are 2 teens and 2 adults.
3 medium size bedrooms - you could just about put a double bed in the smallest, but it works bed with a single, a desk and lots of guitars. He has a wardrobe built around the stair head.

One bedroom has an en suite, and we have a family bathroom and downstairs loo.

One large reception room which we split - living room/play room (now has piano and PlayStation and a sofa bed.).

The garden office has been our saviour. I would want the house smaller, but it's not so small to want to move.

I would go for the 4 bed. We have found that we actually need more bedrooms now that our children have left home and have children of their own, so that they can all co.e and stay - and we still end up with a couple having to sleep on the sofa bed if they are all here!

I think the 3 bed sounds perfect if all the bedrooms are good sized and you can have a dedicated office space as well.

There's more to life than bricks and mortar!

the bedrooms aren’t the issue so much as bathrooms imo.

with 2 teens and two adults you need at least 2 bathroom/shower rooms, plus a downstairs cloakroom if you can manage.

if you WfH as well I’d go for somewhere with a dedicated office, so if the 4 bed will accommodate that then that’s better. dh works from the kitchen table atm and it’s a pain. If you go for the 3 bed as pp said a garden office would work, but would that be any cheaper?

What about a semi instead of detached? You could probably get large 3 bed semi for the sane price as a the smaller detached.