What would you do...

[Mamabear1992]

If you had a large deposit and could get a decent size mortgage (deposit 230k, mortgage 320k, property value 550k) would you max out on a fab house, or buy something cheaper and have more expendable cash and a lower mortgage payment.

I'm torn between my "dream" home for 535k and buying one for say 350k and using 50k to do it up, leaving money leftover to enjoy life and experiences.

Actually writing that down has helped a lot!! I think I want experiences and not just a big house!

It depends what that money will buy you

If you're in an area where 350k will buy you all the bedrooms you need, why stretch?

What is the dream? Break it down to see if it's what you actually need in life. Remember big houses come with extra running and maintenance costs too. Plus take much longer to clean etc. Big gardens are beautiful but hard work.

What is it the more expensive house would give you that would improve your quality of life?

If 350k gets you something you'd have no need to move from I'd do that. But if it means moving again in a few years stretching now may make more sense

I don't think it's a great time to max out on a mortgage with cost of living, inflation and interest all rising. I'd buy a cheaper one.