Anyone chosen not to move to have more disposable income?

[SkeletonSkins]

Our house is fine, but it’s on the small size and after a recent job change we could afford a bigger house/better location etc. However, I’m considering staying put, in a house we can easily afford, as it would be so nice to have extra cash for holidays, trips out etc for the first time.

Did anyone make the decision to not move up the property ladder, so to speak, in exchange for being able to do more/spend more freely? How do you feel about it now?

We are in the same boat. Currently able to afford overpaying massively on our smaller home. For us we would like to be mortgage free sooner so we can help our sons or cut down our own working hours (given we will likely be working til we are 70)

Houses in our town on the next rung of the ladder are a good £200k+ more than ours, which seems silly for a drive, one more room and a location that's not as ideal as where we are.

Yes I did when I first bought a house, but eventually ended up buying a bigger house.

Thinking back It would have been better just stretching myself back then, rather than now.

Yes, I stayed in my one-bedroom flat for six years or so beyond when I could feasibly have afforded to buy a house. It was a great move - I had a tiny mortgage which I ended up paying off in full and therefore was able to save a lot on top for when I eventually did buy a house last year, and in turn now have a much smaller mortgage and thus lower payments than I’d have had previously, so still have a lot more disposable income.

If it’s only a bit on the small side then clever storage solutions (and a massive declutter) is worth trying.

Yes we did but I think it depends on lots of things. My advice would be to aim for a balance - it's no fun being a slave to a large mortgage but likewise it'd be daft to be cramped in a small place if you can afford something more comfortable.

Yes we chose not to move up, our current location is perfect for us and it's big enough.

Of course a bigger house and garden would be lovely, but we don't need it.

We've been here 20 years now and have done it up nicely and it allows us a better standard of living. Over the years there's been a few redundancies and a period of being on benefits due to DH ill health but it meant they were manageable just about.

It was the right decision for us.

Yes.
We have a modest size house (3 beds, small garden, 1 reception room, 1 bathroom) which we bought before we had dc. We now have a 10 year old and 13 year old, it’s a bit tight, but it has seen us through redundancies, maternity leaves and other difficulties, and has allowed me to work part time whilst the dc are “little”, and the mortgage should be paid off in a couple of years.

If we were looking for a house now, we’d get a bigger one, but this one has served us well abs isn’t quite small enough to justify the costs of moving. I’d looooove a seperate office. Maybe a garden office.

@FurierTransform

Yes I did when I first bought a house, but eventually ended up buying a bigger house.

Thinking back It would have been better just stretching myself back then, rather than now.

This

@BikeRunSki

Yes. We have a modest size house (3 beds, small garden, 1 reception room, 1 bathroom) which we bought before we had dc. We now have a 10 year old and 13 year old, it’s a bit tight, but it has seen us through redundancies, maternity leaves and other difficulties, and has allowed me to work part time whilst the dc are “little”, and the mortgage should be paid off in a couple of years.

If we were looking for a house now, we’d get a bigger one, but this one has served us well abs isn’t quite small enough to justify the costs of moving. I’d looooove a seperate office. Maybe a garden office.

This is true. I think when the kids are little and need childcare I would stick with the small, manageable mortgage, but once they are teens I would move up. OP, it doesn't sound like yours are little?

We like our location, the house is a bit small, we could afford bigger but to buy bigger in our location would mean sacrificing our lifestyle. We'll stay in our small house in our nice location and have holidays and treats instead!

Yes, we cleared our mortgage and started looking to upsize. On balance, we decided to stay put and enjoy the extra money. It was the right thing for us, as our kids are older, so we are through the 'toys everywhere' stage.