A fair point, first flat not suitable to children (1 bed), 2nd house too small for two, but subsequent moves have indeed been a choice (and I did get screwed by endowments). I have no regrets, I live in a fab house I love, nice neighbours, lovely area, fair amount of equity but I sure wish I could clear the mortgage 😁 Congrats on finding and affording the forever house, that’s the dream.
The difference is (assuming you can get a mortgage, which in this day and age is ridiculous) at least you’ll partly own the house as you pay it off unlike renting where you own nothing…ever.
Also I’m still paying a mortgage like 35 years so far, because you’ll want to move up the ladder which means remortgaging again and again, so don’t get kidded by the older people finishing their mortgage after 25 years.
Doesn’t this assume lifestyle creep, though? The housing market is a complete disaster, no argument there, but my partner and I will have our mortgage paid off in 17 years, and we’re not planning to move again. You don’t have to keep refinancing and moving to a new place, unless circumstances in your life have drastically changed.
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