Hi, my ex and I have finally got our house to the point it can be put up for sale. I'm currently living at my parents with our 4 kids (all boys, eldest is 8) while getting the house ready. Now I'm starting to look at my options moving forward as I expect to be able to buy a house after the sale of our joint home. I feel I've got two options, both with pros and cons:
Option A: buy a smaller 3 bedroom house, have the boys share a bedroom (2 in each room), more money to spend in extra curricular activities and holidays, shorter-term (5-10 years) as I may need to upgrade as they get older
Option B: buy bigger 4 bedroom house with study or extra lounge that can be turned into bedroom, all get their own room, less money to spend on holidays etc as bigger mortgage, longer-term (15-20 years)
What would you do? I've not had to share a room so i dont have experience with that as I was the only girl in my family. I've got a great job, the kids are at a great school and have family and friends here so I am not planning to move from the area. I've also got 100% custody of my kids as my ex has been unwell and still may be for a long time.
Thanks!
Which option to choose when buying a house?
Which option to choose when buying a house?
Posted in:
Money
4 Replies
I’d always say smaller mortgage.
And you can always upsize later. Either sell your current home, or use the equity to upsize and then have a property making you money.
Another option worth thinking of - we’re buying a 3 bedroom home with the view of extending it in a few years if we feel we need to
I would got he smaller option. Have them
Make do with what they have. Spend money on memories not things.. memories can’t be replaced, houses can. Don’t tie yourself up too much, you’ll end up too stressed and no time to enjoy it with the kids. They are still young.. enjoy it while you can! Life is stressful enough at times. This is what I’d do anyway. I’d be happy with 3 bedrooms and living the life with my kids.!
If the price isn't a big difference i would buy the bigger home, start as you wish to proceed and you don't know what the housing market will do in the future. Flash holidays won't make teen boys happy if in each others a grill all the time, and if they choose to share they get a play room? and way less disruption in the long term