Stretch our budget for a bigger house?

[Goldenroses06]

We’re looking at 2 properties in the same area, one with an extra bedroom and bigger living space than the other, but this one would really be pushing us to the maximum we can currently afford monthly. We have 2 young children so our disposable income will most likely increase in 3 years time as I currently work 2 days a week and would go back up to full time, although we are still undecided about a third child.

we’re going back and forth over what the right choice is and I’m worried we’re being too short sighted if we go for the smaller house with cheaper monthly bills, only to realise in a few years when I am back to my full earning potential that it would have been wiser to go for the bigger house and really push ourselves (we’re talking virtually no disposable income although we would plan to keep around 10k of our savings just in case.)

would really appreciate opinions, especially from anyone with experience making a similar decision on how it played out for you!

All I can say is that when I've moved I've gone for the best that I can afford at the time. Moving is so expensive and disruptive it's best kept to a minimum. With luck, salaries increase and with time things become easier. Only you know if the larger property is in your range.

my generation always max out to buy the biggest house we could afford even if it was a struggle. It’s so expensive to move these and stressful

I think we are in a different world economically and the old stretch yourself to the max logic isn't so logical any more. Virtually no disposable income would be too much risk for me. Could you move to a slightly cheaper area to get the space?

Thanks so much everyone.

@Advocodo this is the thing, it’s definitely what my parents did but I feel like life is more volatile economically right now so it feels nerve wracking!

@bingodingoringo that is a great suggestion but it’s the village itself that we are so keen on which is why we only have these two properties to choose from.

@Cadenza12 you're so right, I definitely don’t want to move again in a hurry! The cheaper property has a bigger garden and I wonder if the smarter thing is to go for that with the view that we can extend if financially it works out in a few years possibly.

monthly the difference would be about £800 if you add in council tax and gas/electricity, which is currently about 15% of our combined monthly income so pretty significant!

I was thinking it would be easier if we knew we wanted another child but actually, one has no spare room and the other so expensive we risk not being able to afford another child 😬