34 yrs to go

[TheRightStuff]

What I said: if you think that a 4-bedroom house is too small for 2 adults and 1 small child, you have an inflated idea of the space that you "need" given the area that I believe you insist on living in, and your household income.

Your life, your decision. But that was my point.

PS, contrary to what you say, you do have to compromise: you are compromising your retirement. Which I think was your original point.

so my average household income of over 5K net p/m and a potential mortgage of 1.5K. Of course that only gives me 3.5K p/m to survive on. I'll never manage to do that. Thanks for telling me that you have saved us from financial ruin.

I'm not compromising my retirment at all. Another reaseon for getting a bigger house is to become geared again. In 20 yrs time I will then move out of the house, buy a smaller place and regain the equity.

[Euro-commuter]

so my average household income of over 5K net p/m and a potential mortgage of 1.5K. Of course that only gives me 3.5K p/m to survive on. I'll never manage to do that. Thanks for telling me that you have saved us from financial ruin.

I'm not compromising my retirment at all. Another reaseon for getting a bigger house is to become geared again. In 20 yrs time I will then move out of the house, buy a smaller place and regain the equity.

Fine. But quite a different story from the opening of the thread, where

You said
34 yrs to go
... to retirement. Oh f*%K

and Chicane said
Real contractors always intend to retire within the next 10 years.

and You said
dream on. Kids, wife not working, increase in living costs etc.
Get in the real world

Look, I really don't want to run your financial life ot even give any advice. But I do sometimes reply to what people actually say. I did that here and now find that I have apparently insulted you. Sorry. OVer to you for last word.

[chicane]

blah blah blah

For what I imagined to be a flippant and light-hearted initial post on this subject, you seem to have become remarkably defensive.

[bobhope]

For what I imagined to be a flippant and light-hearted initial post on this subject, you seem to have become remarkably defensive.

He's trying to rationalise taking on a large amount of debt when the credit cycle is (or will shortly be) tightening.

It's easy to be seduced by the 'need' to have large, expensive houses, but you have to ask yourself how much space you really 'need'.

Personally, I'm taking the freedom and flexibility option, but each to his own.

[rootsnall]

He's trying to rationalise taking on a large amount of debt when the credit cycle is (or will shortly be) tightening.

It's easy to be seduced by the 'need' to have large, expensive houses, but you have to ask yourself how much space you really 'need'.

Personally, I'm taking the freedom and flexibility option, but each to his own.

Think we'd better shut this thread down !!!! I'm going through the same dilema myself at the moment but I'm living in a 3 bedder with a second kid just about to arrive and a wife with very strong nesting urges. I can afford the bigger house without a mortgage but I'm still constantly trying to justify buying big in a very toppy housing market. I think we are very near to the tipping point but I still think it'll take a number of years to see real 'bargains' out there and I might be an old man by the time it does happen.

[chicane]

Personally, I'm taking the freedom and flexibility option, but each to his own.

Similar story here. I consider high earnings to be a privilege rather than a right - this means that our monthly outgoings are (currently) roughly a third of our net income due to what some might consider to be a frugal lifestyle and lack of regard for material possessions.

The lack of money-related stress resulting from this is worth its weight in gold.

[TheRightStuff]

For what I imagined to be a flippant and light-hearted initial post on this subject, you seem to have become remarkably defensive.

I've gone through this thread but can't see where I wrote blah, blah, blah. I'm off sick today with a cold so need some assistance here.