Should we buy a bigger house right now?

[HouseOrHolidays]

Myself (30F) and my other half (31M) currently live in a lovely 2 bed mid terrace, with a small garden, and village location. We are fortunate that due to the timing of when we bought etc we have a very small monthly mortgage payment, which allows us financial freedom in day to day life. I also enjoy travelling, and the small mortgage payment means I can do this more. The house is perfect for 2, but I think it would be a squeeze if we ever wanted a child - currently both of us are unsure if we do want children though.

We have the opportunity to buy a slightly larger house, detached, 2 bedrooms + study, larger garden and a garage, still in a lovely village location. But it will mean doubling our monthly mortgage payment. We could afford to do this but it would remove the financial freedom we have enjoyed for many years, and would mean me cutting back in travelling/holidays too. It is more of a 'forever house' and worth more than our current property so could be seen as an investment to the future too. But is more house than we really need right now for 2 of us. Location wise we're unlikely to get repeat opportunities to purchase a house like this in the future.

Do we buy the bigger house, and cut back in day to day luxuries and holidays, or stay in our smaller, cheaper house, but enjoy a more extravagant lifestyle for now?

I agree with this. You don’t need the extra space now and don’t know if you ever will. Don't underestimate the value of financial freedom.

Thanks everyone for all your replies, it's really useful to get some outside opinions!

Personally I wouldn’t do it (and didn’t!) especially if you are on the fence about kids. I didn’t move, decided not to have kids and now in our 40’s are glad we stayed in our 2 bed with a relatively small mortgage (not as small as it was thanks to Liz Truss!). Having more money to spend on other interests suits us much better than spending it on having more bedrooms etc!