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Original poster

WWYD ~ Dream forever home

56 replies

Dreamhouseornot · 14/05/2024 20:32

Hello,

WWYD

Our house is under offer and we have started to view houses. It’s down to two possibly houses (hubby thinks one and I think the other)

Option 1
The dream forever home, amazing location, amazing south facing garden, room for our teen/adult children and space for them to stay with families in the future when they leave home.
Perfect for entertaining, all done up with nothing to do
BUT We would be highly mortgaged and probably won’t be able to afford the 2/3 holidays a year we currently have and as many days out etc (but could still manage 1 holiday a year)
It is the house I’ve manifested my whole life and work so incredibly hard, would feel like it’s all been worthwhile.
If interests rates go down in a couple of years we could look at a new deal which would perhaps decrease the monthly payments?

Option 2
Still a nice house, but smaller not as good as an area but still nice, small north facing garden but still enough room inside - bathrooms and decor we would change over time but no rush.
Much smaller mortgage so would be able to holiday when we like and buy treats, days out, take away now and again, weekly cleaner etc

Which one would you go for or have you done and did you regret it or was it the best decision ever

Thank you

OP posts:
Wolfpa · 14/05/2024 20:45

How old are you? When are you planning on paying the mortgage off by?

DorisDoesDoncaster · 14/05/2024 20:50

Option 1 - wouldn’t need to go on holiday three times a year!

DorisDoesDoncaster · 14/05/2024 20:50

Or move again…

ThroughThickAndThin01 · 14/05/2024 20:52

What are your reasons for moving?

Motnight · 14/05/2024 21:04

Option 1

Greenmayleaves · 14/05/2024 21:12

I have all the benefits of your option 1 at the minute and it's 100% worth it. We actually spend more time at home and I'm so content here that I'm no longer itching to go on days out any more.

BigWillyLittleTodger · 14/05/2024 21:14

Option 1 you will be forever live in regret if you don’t, it will always be the one that got away.

midgetastic · 14/05/2024 21:18

For me - Option 2 - life is for living and a house doesn't need to be anything special to be a family home

Sounds like it's back to the drawing board as one of you will end up resentful

thanKyouaIMee · 14/05/2024 21:18

Option one for me!

A dream forever home would be worth everything. I'd spend time if I picked option two wishing I'd picked the dream house I think!

SaulHudsonDavidJones · 14/05/2024 21:22

Option 1 dream house for me. A beautiful house with space for the children to visit with their families and entertain friends is up there in my life goals so I'd make sacrifices to make it happen.

LaWench · 14/05/2024 21:54

Option 1. You'll wish you went for it if you end up elsewhere. Holidays are overrated. You spend the rest of the year in your house, make it the best you can afford.

LaWench · 14/05/2024 21:57

We're moved to our favourite street in the village, good size and good price but needed a full refurb.

Our house is half done and we're taking a break from renovating, I love every second here. I still pinch myself. Don't really do holidays anymore but when we do I'm always wanting to be home.

TheFlis · 14/05/2024 22:16

House 1. You would always resent house 2 for not really being what you wanted.

Pallisers · 14/05/2024 22:18

House 1. As long as I had one holiday a year I'd feel fine. I love my house and get a great deal of pleasure just being in it.

But if you really can't agree maybe you need to think of house 3.

catherinewales · 14/05/2024 22:36

I'd go option 1 all day long. Mortgage stay the same mostly but you will get pay rises and your investing in the future. Im sure on a hot sunny day you get the bbq and pool out and have just as good a time there as a day out. Go for your dream. You don't know what's round the corner.

Cantabulous · 14/05/2024 23:23

I’d never settle for a north facing garden

TwoTimesShoeShop · 14/05/2024 23:26

I hate to face those moths too, boring brown bastards.

Much prefer looking in the direction of the butterflies.

Digitaldedado · 15/05/2024 01:01

Option 1.
We mortgaged ourself to the hilt to build our dream home. 7 years on our house has nearly doubled in value and our income has over doubled. Yes mortgage rates and col have increased too. But if we had to sell tomorrow we'd be mortgage free with cash in the bank. A house is worth throwing everything at - good luck

YorkNew · 15/05/2024 12:19

How much more per month is option 1?

Could you buy option 1 and extend the term and then shorten it if rates do go down?

Is there an option 3?

I think it depends how tight things will be if you buy option 1.

WimpoleHat · 15/05/2024 12:21

Option 1. I don’t get the modern obsession with holidays over everything else; far better to have the house you really want and which you’ll live in every day (to state the blessing obvious!).

hallan · 15/05/2024 13:45

I think you'd get a better financial return with option 1, especially if you would consider downsizing later in life. We maxed out our housing budget and I'm happy with the decision, and we are confident that we'll see higher returns when we eventually move, than if we'd gone for a more modest home.

We aren't homebodies though and still do loads of days out, but it needn't be expensive as there are plenty of free options near us.

tootiredtobother · 15/05/2024 13:47

option 1
north facing garden puts me right off no2

emsyj37 · 15/05/2024 14:04

Option 1, but that's because having a nice house is very important to us - it isn't a priority for everyone. We aren't interested in fancy cars or clothes or eating out regularly - we wanted space for the kids to all have a good sized bedroom, a nice big garden, to be close to a train station and the good schools etc. We stretched ourselves to buy the house we live in now and took a 28 year mortgage which we are now reducing due to overpayments as our income has increased a bit - we've been here nearly 7 years now and the value of our house has increased significantly in value, to the point where we couldn't afford to buy it now!

Some people really like regular holidays, nice cars, having spare cash etc - we prefer to deprioritise those things so that we can have the best possible house. There's no right answer, only what's right for you.

LadyLapsang · 15/05/2024 14:37

I suspect you are team one and your DH team 2. It depends on whether you can afford it. How many children do you have to see through HE? How much do you earn, how secure is your employment and are you debt free? How many years to retiring and what is your pension provision? I think the answer may be another house entirely.

Notallscumbags · 15/05/2024 15:46

What prompted the move in the first place?

I think you need to take stock of the finances and a bit of a reality check depending on age.

There's no guarantee your kids will return with their families. Everything is a good standard now but what about in 15 years? Will you be able to look after the house and garden as you get older? Would you still be able to cover the mortgage if one of you becomes ill? Would you downsize when your retire? Do you want to gift money to/go on holiday with your kids?

I think @LadyLapsang has it right.