Big or small, what's your favourite kind of house?

EltonJohnFan

Hi everyone,

I've been a longtime reader here in the forums and I often come across all sorts of people who, as you can imagine have their own views on what sort of property they'd like (or need) to be happy and content. I come across people who go out of their way to buy the biggest houses in town... regardless of not on whether they can actually really afford to live there or if it all just comes down to showing off to other people. I also come across the thrifty sort, people who live in the very smallest of houses, homes that are just right for them, neither too big or too small and they can easily afford the bills and usually have a lot left over at the end of the month too. Now, my question is this: who do you think has it right? the person paying through the roof to maintain the big house or the other person who lives in the average home, average neighbour but with below average expenses? Do you really need a extra large and extravagant home to be happy? Thanks for answering

roseland69

I hate housework so big is a no no for me!

Seriously though, I don't really care about "the Joneses". I care that I have a home that we can afford and that ticks basic boxes for us to be happy and not stressed by bills etc. I wasn't always like that. When I was younger I thought it mattered what type of house you lived in. Being strapped for cash soon knocks that idea out of your head though!

milliebear00001

Hmm, well it's easy to see what you think from your rather loaded question!

Personally, I live in a house I can easily afford on one salary. I would certainly like a larger house and a bigger garden. Mainly as I have children and space is always at a premium. I probably would have pushed things for a bigger place, but I wouldn't have been given a mortgage. I would have been less bothered before I had kids though. Many of the parents of my daughter's friends live in large houses and I think I do feel some pressure to 'live up to' their standards. I know my kids certainly notice the difference between the size of our home and their friends'.

I am very risk averse though, and wouldn't like to live hand to mouth each month. I think the parents probably have overstretched themselves, but are feeling comfortable at the moment due to interest rates being so low.

LisaLou1982

We have a 4 bed house which is rather big and its just me and my OH. Its in a nice part of town and where we want to be and we were lucky to get it at the price we did so decided that we would move here now rather than getting something cheaper and moving again in a few years time. However, we can still afford this house on one wage so we kinda have the best of both worlds

EltonJohnFan

milliebear00001 wrote: »

Hmm, well it's easy to see what you think from your rather loaded question!

Personally, I live in a house I can easily afford on one salary. I would certainly like a larger house and a bigger garden. Mainly as I have children and space is always at a premium. I probably would have pushed things for a bigger place, but I wouldn't have been given a mortgage. I would have been less bothered before I had kids though. Many of the parents of my daughter's friends live in large houses and I think I do feel some pressure to 'live up to' their standards. I know my kids certainly notice the difference between the size of our home and their friends'.

I am very risk averse though, and wouldn't like to live hand to mouth each month. I think the parents probably have overstretched themselves, but are feeling comfortable at the moment due to interest rates being so low.

Perhaps my question isn't so loaded after all, you've answered it yourself

I'm the sort of person, like you that believes we should live well within our means and I really commend that you do what you have to do and give your children the best that you can afford on just the one salary, can't be easy I'm sure. I really admire those that get out there and do what they have to do to get where they want to be in life but as you yourself say, I do worry about those that have taken to living WAY beyond their means and the almost inevitable rate rises will certainly affect them, of that I'm sure.

Geenie

I live in a very large house now, but have extended family in parts so we cover it all.

Had the opportunity to live in it 20 years ago, with just 4 of us rattling around.

Yes we would have looked grand, and there was a certain kudos amongst parents at school about how big your home was when getting friends back.....but we didn't care. Went for a small property we could run comfortably. A cottage that served us well. No debts, no holidays if not the cash for for it, and cars that were only changed after about 10 years and they no longer were viable.

I am not particularly old I hope, but I lived at a time when children shared bedrooms whenever possible. My 2 brothers shared until their 20's and they married and moved out. As a girl I was given the box room in our semi, but I could barely swing a cat in it, but also as a girl I moved out by 18.

You need to live in a place you can afford. Anything else will bring misery. Good luck Op.

brokeworkaholic

14 roomed detached house, a third of an acre within an hours commute of London.

Also have an investment property close by.

We're a young married professional couple - Looking at them longterm - these properties are our pensions.

Hate being a responsible grown-up!

milliebear00001

brokeworkaholic wrote: »

14 roomed detached house, a third of an acre within an hours commute of London.

Also have an investment property close by.

We're a young married professional couple - Looking at them longterm - these properties are our pensions.

Hate being a responsible grown-up!

There's absolutely nothing wrong with any of that though - if you can afford it. Are you living within your means - both now and if something untoward happened, or if one of you needed to give up work for any reason or if interest rates went up by a large amount? If you are, and the sums add up, then there's no issue and you needn't be that responsible!

brokeworkaholic

Hi Millie - Yep, accounted for interest rate rises. I am very recently unemployed (Another government statistic of redundancy!) & that was accounted for as well. I am a workaholic (as per my name) & don't plan on being unemployed for weeks on end.

We did try to keep our 1 bed house as a BTL but needed the equity as the next deposit.

quantic

I was actually thinking about this sort of thing recently, and I think that having a smaller house genuinely makes a family closer. My parents have a really big house and my fiancee's parents have quite a small house. Its interesting how it makes the way you interact with people different. I think having a house thats too big for what you actually need is a bad thing. My theory is to have a house with just enough space, but really really high spec, rather then go for the biggest and skint myself.

Mazzawa

Buy the house you need - if you get along wonderfully with your partner and kids etc then you don't need lots of family rooms to hide in! For us, with planning for the future, we're looking for a house with a dining kitchen and 2 reception rooms (lots of stuff needs homes) as well as 4 bedrooms or 3 big bedrooms and a study. Oh and a utility so we don't have to have a washing machine in the kitchen (*grumbles*...pans fly everywhere on spin cycle!!!). What we need most is peace and quiet having lived in the middle of a city for 4 years.

That's what we need and can afford a really nice version of that in our area.

However...

I would like a country house, 7 bedrooms so our parents can live with us in their old age, a large garden, huge kitchen, countryside and sea views...I don't ask for much!

I'll go buy a lottery ticket!

I think to answer the original poster's question I would say live within your means. If you can buy the biggest house but then have to pay for the heating bills on credit because it is too expensive then you cannot really afford to live there and that's just daft! You'll be a lot happier being able to afford a fortnights holiday a year than being stuck in your mansion 365 days a year!