I regret buying our house because of how much it cost

[Regretitnow]

The amount we paid is frankly mind boggling and I still can't get my head around it. It's a lovely house, but omg, I feel sick thinking about it.

We aren't in trouble with the size of the mortgage, that's manageble, but I know we'll never sell it for what we paid due to the bubble we've bought in.

I feel like everyone thinks we are idiots for paying this much too 😞

Just don't see it as a way of making money, enjoy it & live in it

And the great thing is you can afford it

Look at it long term. We bought last year and almost certainly overpaid. We then did lots of work on the house which would take us past the highest price for our (very short) road. But our mortgage is very affordable. If we sold now we'd make a loss.

But there wasn't an alternative. Nothing else has come up in as good a location or with as much space. And I've been keeping an eye on Rightmove here for two years. The work we've done was expensive but it's future-proofed as it's insulation, environmental stuff which, longterm, will reduce running costs.

And it's the sort of house we can live in for at least 20 years. It has downstairs bathrooms and space to live downstairs if/when we can't manage the stairs any longer. And we're close to lots of amenities.

If we hadn't bought it, we'd still be spending an unaffordable amount of rent (our rent cost was getting on for 4x the mortgage), would have had to buy a much worse house that didn't work as well for us.

We bought our house during the last time a peak happened, right before the last economic crash when some banks went bust. Within a month or 2 of buying our house the value of it dropped by 25% and we were in negative equity. We also thought we would never be able to sell it for what we paid for it. It’s now ‘worth’ a lot more than we paid for it. These peaks and troughs happen all the time in the housing market, but they always stabilise again. As long as you can afford the monthly payments that the only thing that matters.