Is this profligate? Moving to a bigger flat

[Repl]

We currently live in a one bedroom flat and paid £2,000 a month in rent on a take home of £7,000 a month. It feels cramped and we can’t host.

A two bedroom flat with two bathrooms and separate kitchen dining room is £2,900 a month in rent. Would it be profligate to move to that flat? We are looking at two year tenancies, where next year, our income will be around £10,000 a month.

So it would feel a bit expensive for one year but in the second year it would be fine.

It’s a lot of money but you earn shedloads so if it works for you…

What are your medium-term plans - is buying on the cards? If so I’d say stay put and build up your deposit instead of spending more on rent.

I have no idea what that word means, but it seems fine given your incomes.

We had a similar joint income and we chose to keep expenses minimal while renting, as we were very focused on getting a good deposit and maxing out pensions. But we didn't feel a small studio flat was cramped for 2 people and we had no desire to host (none of our friends ever do in London). We did however want a very central location so rent wasn't cheap.

We ended up with a substantial deposit (invested savings so it grew significantly) and have been able to move up to a 4 bed house in zone 2, which many of our friends have not been able to do despite being on similar incomes.