AIBU - Homes

[CostaMad]

Is my DH (34) and I (37) being unreasonable to spend 600k on a forever home rather than buying something a little cheaper and paying off the remaining 300k of our student loans ~ raising it will friends tends to be a controversial topic. The way I see it is the sooner you pay off student loans, the less interest you'll have overall. However, student loans tend to have relatively low interest rates and home prices can rise every year, especially in Britain right now. Has anyone chosen to pay more towards student loans than housing and if so why? I'm asking after the fact as we have just settled in but I'm wondering what others would do.

It's impossible to say without knowing more details of your own situation.

But I would always say to buy your house now, meaning your forever house. Have you considered the stamp duty when having to move again?

You'd gain more capital growth from your forever home, than an in-between house. Giving you room to remortgage to release equity in the future (if necessary). Stamp duty and other fees when having to move again. Plus if prices keep growing, your forever home may end up unaffordable to you if you wait.

How are your student loans as high as 300kp?

This! I thought the OP was from the US

Jesus I have serious postgrad and was an England student with full fees/maintenance and my student loans still aren't even close to that! The SLC doesn't physically lend that much!

Have you changed some numbers OP for privacy?

In answer to your question though, DH and I are considering buying a house that's about half of our full budget this time so we can have a tiny mortgage and pay money into our pensions, with a view to upsizing later, and we did clear DH's loan with the sale of our last house as well. So I don't think it's a bad plan all told.