Do you regret stretching yourselves financially?

[zlapeo]

Of all our friends who have done well out of property, it is those who stretched themselves.

DP and I are 28 and 30 and thinking about buying a flat for £1.4mil. We’d find a flat that costs £600k acceptable to live in, but not much scope to add value at the lower end of the market.

We could afford the expensive place, but if we change jobs in the long run we’d likely need to sell it. But it’s much more likely we’d make bigger equity gains in the expensive flat vs the cheaper flat, so if we ever downsized then there’d be more money to be had.

Do you regret stretching yourselves financially?

This sums up my view only addition is my appetite for risk and stretch on a mortgage at your age would depend on my career progression / career plans.

Dh and i both dont want the "big career" so salaries will top out at around 200-250k each that limits / dictates the budget. We also wanted children close in age so factored for thise costs (2-3 years of 40-45k pa childcare) on top of mortgage.
We borrowed 400k less rhan our max and are pleased we did that. Interest rates and costs of childcare would have made things uncomfortably tight. Prekids we had 000s sloshing around each month now we tightly budget and our salaries are a lot higher!