Moving home vs early retirement

I have savings and have been in a dilemma do I buy a bigger house and pay a few hundred more for extra so do I retire earlier than 65 in the future? I looked at a bigger house but felt it could compromise location. I feel frustrated with this house as some newer houses have newer windows or kitchens. I also realise moving could mean less holidays abroad. I don’t really want the hassle of talking to the bank or financial advisor just looking for some general advise. Is it better to move or is retiring early just a life of boredom? Would be interesting to hear as there’s maybe others here had his dilemma or made a choice? 


  • Brie
    Brie Posts: 9,214
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    Do you need a bigger house? If no why do it.  Do you love your job?  If not then retire.  

    Have you paid off your mortgage already?  That is such a big relief if you know you don't have that big chunk of money going out of your account every month.  And it means that perhaps you could change to a lower pay scale role and chill a bit rather than retiring outright.  
    "Never retract, never explain, never apologise; get things done and let them howl.”
  • gadget88
    gadget88 Posts: 162
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    I’m mid 30’s so wouldn’t retire to say 50. Seems a trend to retire early I currently work just 3 days so always sort of semi retired. Not quite I moved from a flat 5 years ago and added 30k to it. I have alot of savings and my wife’s family have money so I would be confident of clearing it q before it runs out in 29 years. I have a two bed house just me and  my partner no family so don’t need the space more of a luxuary. And yes that’s right maybe by 50 I could cut to 2 days work from 3 that may work well? It’s just I am in a position to spend and I don’t know if I should hold off home improvements or move. I have been spending around 2 grand per year on this house since 2018 so this one is modern. I had been looking at 3 bed 3 bathrooms but sometimes find new builds have smaller living rooms and can’t fit my furniture. 
  • gadget88
    gadget88 Posts: 162
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    If I cleared my mortgage I could reduce to 2 days from 3 for same money. So maybe it’s a goal to clear a mortgage?
  • Retire is my vote. Other opinions are available. 
  • prettyandfluffy
    prettyandfluffy Posts: 634
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    edited 10 February at 9:48AM
    Depends on you and your lifestyle but my OH & I both stopped work before 60 (me for health reasons, him because he wanted to.).  We downsized so we have no mortgage and savings.  Every day is a busy day.  We have time for hobbies, visiting family and friends, travel plus we have 2 dogs who get a good walk every day.  Main plus is that you need a lot less, you can live a lot more cheaply and your quality of life is better.
  • SilverSix
    SilverSix Posts: 267
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    Retire as early as possible, life expectancy is not guaranteed. 

    If you value a nicer place to live more than you do financial freedom, then move and keep working. 
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