Household income (after tax) vs mortgage

[PropertyLookout]

I’m 28, DH is 34….2 kids 3y/o and 5 month old

Current situation: H/hold income £4,900 vs £580 mortgage (16 yrs left)

Looking to upsize: £4,900 income vs £1,350 (30 years)

We would be upsizing from a small 3 bed semi to a 4 bed detached in a nicer area with better school prospects and great links to 2 big cities (thinking job opportunities for when DC are older). The financial jump seems daunting!!! We want to see what everyone else is doing.

Is this a normal income to mortgage ratio? Whats yours? (If you’re happy to share) I’m looking to be talked into it….or out of it :)

Well I can see why it has been on for so long….. the pictures were very deceiving. Very poorly looked after house. Frustrating but back to refreshing Rightmove ever few hours of the day. Argh!

Hi this has been a very interesting read, we are in similar position currently in 3 bed semi, two young kids, moving areas for 4 bed (need proper double spare room for grandparents for childcare post move)

Take home 5700 Inc child benefit - both in jobs that get annual increase so salaries will go up

No current childcare costs (thanks gp's)

Current mortgage 960 p/m looking at that increasing to around 2000 p/m for the area we want (25 years mortgage)

We currently have around 2k left at end of the month so this will reduce to around 1k for savings / unexpected spends / holidays - don't currently have any savings but am going to put 10k in a savings account after the sale to start us off.

Is this crazy? I thought it was fairly doable - like OP we don't spend a lot on much really, cut our own hair, I get it dyed once a year, no other beauty treatments, clothes from vinted / supermarkets rarely, grocery spend is around 400p/m (but will go up as kids get older I'm sure!)

Looking at other peoples take home to mortgage ratio has me concerned! But I know we spend a lot less on stuff than a lot of people I know