House

[Flimingo]

what people think I should do

4 bed detached house,nice area and street,built in 2013,2 receptions rooms,nice secure garden,not big house but our needs serving.we can afford 80 % saving and will take only 20% mortgage likely to pay in 2 years and then out of mortgage.

should we buy this house or go for biggger house with higher price and potentially 50 % mortgage?

I’d go for it. Keep the mortgage low.

how long will you be in this house and and what are the compromises for you?

Will likely be in this house for many years to come.No compromises except that it is not very big

What stage in life are you? How will the house you're thinking of buying continue to meet your needs during the time you plan to stay there. Without that information it's impossible to advise you in the right decision because your needs coming up to retirement will be very different to starting a family or having a growing family.

Only you know if your needs will change over time and therefore a "too small" house isn't a good investment if it won't cater for your future needs.

Another consideration is that if your income is likely to be less in future years then you won't want to commit to a higher mortgage now.

How old are you? Children? How old are they? Why do you want a house bigger than your needs? (Genuine question. We all have different priorities).

Location, location, location. Are the necessities of life handy or not?

You don’t mention parking.

Be realistic, how much do you garden? Will you get the most out of a bigger garden or will smaller suit just fine?

How many people will be living there?
Does anyone work from home?
Is there a garage for extra storage/conversion?