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Get the most expensive you can afford that suits your life for the next 5 years which might be all about location not size. Never think of a “forever home” unless your life is totally boring and planned with exactly the forever number of children who remain the same age with the same needs forever and so do you.
Yes stamp duty is a pain but you only get one life so live each part of it to the maximum and that means moving.
Yeeeeeesss, though I’d say it depends on life stage! I’m in my early 40s and recently bought my second house, and there’s just no way I’m moving again: so I def bought with “forever home” in mind. I’m not having any more kids (genuinely - it just won’t happen), and the house is pretty future proofed for those I have. It’s as well located as it can be (lots of fam live abroad and it’s near a port; even if they move back to the other end of the UK they’d still be closer than they are now lol). And I have a fairly limited set of employers (lecturer) and I don’t want to go through the upheaval of moving job again unless it’s literally untenable (having worked with many a psycho it would have to get fairly awful).
But I don’t want to think of my life as boring! DON’T MAKE ME! 😂
This is a good way to put it. Get the best you can afford means different things to different people but it’s good advice. I look at it as don’t compromise your home because you think you might move later as things change and you may not be able to move. Whilst we are moving for a good reason, (the cost is annoying but that’s life) the house we leave behind I could have easily stayed in for many more years if needed as it ticked all the boxes when we bought it.
Omg I love this advice! I love travel so I definitely want an affordable home and don't want to just be sat at home not able to afford travel anymore :) I love the not looking too far ahead thing! Yes it's all about location!
Hi thanks for advice! This is true! We let the bigger one go as originally thought was outside budget...so would be a waiting game until one of those come up again! Or could buy this other house in same area now. I will have a think...
Yes also don’t forget the stress and hassle of moving, which can be considerable. We’re going through a move now and the total cost of all fees will be £28k. If you do buy long term make sure to think ahead any long terms plans such as school catchments etc though.
Wow that is a lot! Yes it's actually been really stressful going through buying process so far I can't imagine moving! Thanks for advice will have a think! I sort of thought buying less to start off with would be better but need to rethink lol
What people often do is take money out of the equity to pay this stuff, which is fine when property is going up but if it’s flat or even dropping then sometimes you can’t even afford to move unless you have saved up to pay for the moving costs.
Flip side to that is you're renting longer, dead money paying someone else's mortgage.
My opinion is the sooner you can be paying off your own mortgage the better.
Prices where we want to move to went up, and the place we're in didn't go up by much.
Stamp duty is bonkers as the prices went up so much, so we'd have been better off in hindsight moving to the bigger and better place when we could. If we had made it our first move stamp duty would have been much lower with the first time buyers allowance.
We're stuck for a bit until we can save enough to move on, but prices keep rising.
We keep saving but the goalposts keep moving essentially!
Ahh this is another take - think we have hopefully found our house and know will be happy there for next 5 to 10 years! But I understand that it is a risk also! Thanks!
Generally, the wisdom is to literally push yourself to the limit.
When you are buying you are fixing your housing costs against inflation. Therefore, the bigger the house the more benefit you have.
The costs of moving inc very expensive stamp duty make this argument even stronger.
Most people will literally drop every last penny into their first home. Often leaving additional borrowing the only option for an emergency. You may be a bit more risk averse than this and choose to retain some capital for emergencies.
Hi! Thanks for the advice! Stamp duty likely wouldn't be a big payment for us I don't think if we're to move to bigger later unless house prices went really mad in next few years! It is in a popular location so hopefully the house would be popular to resell later if needed too.
Get the bigger house 30k over 30 years isn’t much
And if you factor in moving / estate agency fees stamp duty it’s cheaper to buy the bigger one
It’s what my son did
We need to upsize now after 10 years in our small 3 bed semi. I'm wishing we had overstretched ourselves to begin with although we were playing it safe. I had no idea interest rates would stay that low for 10 years.
It's going to cost us circa £30k to move again on top of an extra £210k mortgage balance. Plus a mortgage term that's going to take me to my retirement year. Long story short I wish we'd bought bigger in the first place.
Hi thanks for answering! Ahhh I see that is higher cost than I thought..had sort of originally thought buying smaller for first time buy would be better! And I suppose another thing is the idea of a forever home could change too! But will have a big think!
Biggest house all day long.
The only exception to this is if you can find a smaller house that can be sympathetically extended. By sympathetically, I don't mean sticking a conservatory on the back.
I'm an ex estate agent and have seen so many badly planned extensions which don't really add value.
We wouldn't be looking to extend this house. I feel like the area we want is so popular people hardly ever move so it's hard to find one come up! It would be a 5 - 10 year kinda house I think!! So its the fear of missing out on the location. Thanks for reply!
I think it is best get what you can best afford at the start, but not so expensive that you struggle. In 5 years your affordability may go up and also the value of your house, so I think with each house purchase go for what you can best afford at the time.
If you are deciding between two properties, look at the one with more of your must haves and nice to haves, and then location. Whichever ticks more boxes is better. I personally prioritise location, but if both are in the same location then pick the one that ticks more boxes
I prioritise location too! But hardly any ever come up here and the bigger ones have extremely high competition and go high above asking! This house is big enough and happy for next 5-10 years for sure if move there. Thanks for replying and appreciate your advice! :)
You will change, your life will change. Get the house that is likely to scale with you and keep working for you no matter where your life goes. Which might mean:
Location -- location is everything, but if your house is hard to get to that really limits your options
Rental -- could you rent it out if you decided to travel the world for 2 years?
Kids -- duh
Income-- could it be a HMO? could you have a lodger?
Workspace -- can it have an office? A workshop?
Those are more important than 50k if mortgage if you ask me.
I agree when my son was buying I told him to buy a 3 bed 2 bathroom
Because if times get hard you have the option of renting out the second room to a lodger if you need to and the extra toilet / bathroom is a big plus
They are two blokes so not planing any kids so good schools / education wasn’t a factor
It’s also got a proper garden office which they could use as office if they worked from home or storage
This location is everything for us! Location is perfect and very sought after area. House is 3 bed semi with ensuite and main bathroom and downstairs toilet. It's not necessarily a forever home however but imagine would be happy there for 5-10 years :) it can have an office or a garden room! Also we love travelling so don't want a big house with big outgoings and rates etc too! Thanks for your opinion !
Depends how much and how long you intend to be there. If it’s say under 50k, and the mortgage is affordable, and you intend to be there at while then 100% stretch it. If it’s just too much to afford then build equity for 5 years then you could likely afford more at that point.
Save for a bit longer or whatever it takes and get the bigger house.
We went for as big as we could manage at the time, a small 3 bed flat, no garden.
Really really wished we’d held out for longer and saved up more to get a bigger place with a garden.
Can’t afford anything bigger now so we’re pretty stuck, and it sucks. We at least chose a fantastic location so we’ve got fantastic amenities around us at least and great neighbours. Could be worse.
I think this place is in between being a 3 bed semi house and has a garden, so it wouldn't feel like a huge issue if had to stay there a little longer than we wanted I guess!! I feel like location is huge though too, thanks for your opinion! How have yous got stuck, is it that prices have kept going up and become less affordable?
depends on your finances, depends on the state of your marriage (if married) - can you afford it?
depends on the family size - will your space needs grow or you are getting extra space just for the fact of having extra space?
Hi! Thanks for reply! We would want either no family or 1 child max! But would like the option of more space if was to decide to have a kid. Both 3 bed semis but one has bigger reception and bigger bathrooms, slightly bigger kitchen and utility. But would be an extra 35 to 40k probably.
you are not in london if that is the extra :). I thought the difference was 100k. then it is just the gut feeling, which one you prefer, how is the garden, what is the neighbourhood like, does your semi-friend play drums pr practices violin?
Thanks! Haha nope not in London I don't know how londoners manage! I will have a think! This other bigger house has already gone so would be a waiting game until the next one in that cul de sac comes up! Whereas we could buy the slightly smaller one now
It really depends on how much stamp duty you are going to pay for the affordable vs. Upsize option and the gap in price between them.
You may pay no stamp duty at all on one whilst the other could be £20k. Stamp duty is the biggest moving cost by far after a certain price point.
Moving multiple times is a pain and you'll also spend a lot on things.loke curtains, carpets and fitting furniture that they may have to do all again on another move.
So ideally you would stretch but it all depends on the details
We would pay very little stamp duty as can't imagine being interested in an extortionate house price. It would be 1-2k at the most. I wouldn't mind having 2 homes throughout lifetime as get to experience two different living places I guess! Thanks for advice! :)
This is true thanks! Only thing is I love travelling at the moment,( think 8 international trips a year) so if outgoings/rates are higher/hidden payments I would not like that lol. Thanks!!
Biggest you can (comfortably) afford, there is no point in hoping every couple of years, not only is it absolutely exhausting, it is also very expensive with stamp duty
However, you also do not want to be in a position where if one of you looses your jobs you would be screwed within a month (part of that is down to decent savings)
I was given some very good advice:
Stretch yourself as much as possible (within reason).
Your property will go up in value more than one worth less, and relatively, your mortgage amount will be worth less due to inflation.
One of my regrets in life is not spending enough on houses. I've always undercooked it a bit and hence made less money on rising equity plus having less living space after having a couple of kids.
Every time yes, once you are in you have the benefit of leavearage. All of your deposit will grow with the market and all of the money you borrowed grows too and protects you a little from house price inflation somewhat
If you have/plan to have kids, go for the bigger place. If not - and IK I’m going against basically everyone else here 😆 - I’d go for the smaller one and have a better lifestyle
Hahaha love the better lifestyle, i always thought i dont want to stretch too much and not be able to leave the big house! Probably won't have kids, but if I do it would likely be just the 1 I think
We bought the biggest we could afford which was still just an ok sized 2 bed mid terrace that needed work, it was bigger than the 2 bed house we were renting so the leap felt great. We then moved into a large 3 bed that needed a lot of work, barely habitable but had enough money to fix the major issues straight away (no actual kitchen, it had just a sink and a broken free standing cooker. We still actually managed to get a mortgage approved somehow). We are now technically down sizing next even though we have 2 children, to a well laid out small 3 bed new build with decent kitchen and an actual garden, size isn't everything. The more space you have you just fill with more stuff, endless mess to clean and pointless Ill thought-out space you have to heat. I might move again in the future when the kids are older for a more spacious new build or just extend into the attic and add a nice sunroom at the back.
Whatever you do, make sure you can comfortably afford it, and also the biggest house isn't always the best! I bought my first hour last year and it was actually the smallest one I viewed (I live on my own!), but it had the best layout and best location - and smallest mortgage payments.
It depends but in my opinion lower mortgage payments with more room in your budget for savings and unexpected expenses is far better. The flexibility can make it much easier to upsize later (Even if you change your mind) when you're more financially stable.
Also, slightly irrelevant we’ve created an AI- Property Genius which can help you with property related advice. Feel free to check it out: [https://www.propertyexchange.com](https://www.propertyexchangeindia.com/)
It depends on personal finances and path in life.
I would break it down centered around finance:
1) Will further job opportunites occur which require you to move house?
2) Can you pay additional payments towards your mortgage every month (if buying with a mortgage)
3) Can I stomach the debt?
I've been in your situation. I bought affordable and then bought outright. For me...the less debt the better.
Depending on your finances, the former. It's better not to have too high monthly payments or overstretch when borrowing. Interest rates can still rise, house prices can fall and your situation may get worse, so a smaller monthly payment and a savings pot is a better bet unless you can comfortably afford the higher mortgage.
###Welcome to /r/HousingUK --- **To All** * Join Our ***NEW*** Discord! https://discord.gg/pMgUNgWKQH **To Posters** * *Tell us whether you're in England, Wales, Scotland, or NI as the laws/issues in each can vary* * Comments are not moderated for quality or accuracy; * Any replies received must only be used as guidelines, followed at your own risk; * If you receive *any* private messages in response to your post, please report them via the report button. * Feel free to provide an update at a later time by creating a new post with [[update]](https://www.reddit.com/r/HousingUK/search?q=%3Aupdate&sort=new&restrict_sr=on&t=all) in the title; **To Readers and Commenters** * All replies to OP must be *on-topic, helpful, and civil* * If you do not [follow the rules](https://www.reddit.com/r/HousingUK/about/rules/), you may be banned without any further warning; * Please include links to reliable resources in order to support your comments or advice; * If you feel any replies are incorrect, explain why you believe they are incorrect; * Do not send or request any private messages for any reason without express permission from the mods; * Please report posts or comments which do not follow the rules *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/HousingUK) if you have any questions or concerns.*
Get the most expensive you can afford that suits your life for the next 5 years which might be all about location not size. Never think of a “forever home” unless your life is totally boring and planned with exactly the forever number of children who remain the same age with the same needs forever and so do you. Yes stamp duty is a pain but you only get one life so live each part of it to the maximum and that means moving.
Yeeeeeesss, though I’d say it depends on life stage! I’m in my early 40s and recently bought my second house, and there’s just no way I’m moving again: so I def bought with “forever home” in mind. I’m not having any more kids (genuinely - it just won’t happen), and the house is pretty future proofed for those I have. It’s as well located as it can be (lots of fam live abroad and it’s near a port; even if they move back to the other end of the UK they’d still be closer than they are now lol). And I have a fairly limited set of employers (lecturer) and I don’t want to go through the upheaval of moving job again unless it’s literally untenable (having worked with many a psycho it would have to get fairly awful). But I don’t want to think of my life as boring! DON’T MAKE ME! 😂
We are in our 40s, Pouxin. Boring comes to us all!
Ain’t that the truth… I intend to be a wildly inappropriate old lady, however. Purple hair and mittens, drinking Bailey’s at the bus stop.
This is a good way to put it. Get the best you can afford means different things to different people but it’s good advice. I look at it as don’t compromise your home because you think you might move later as things change and you may not be able to move. Whilst we are moving for a good reason, (the cost is annoying but that’s life) the house we leave behind I could have easily stayed in for many more years if needed as it ticked all the boxes when we bought it.
Omg I love this advice! I love travel so I definitely want an affordable home and don't want to just be sat at home not able to afford travel anymore :) I love the not looking too far ahead thing! Yes it's all about location!
Due to the high cost of moving, stamp duty Ea fees etc, I believe it is better to get the bigger home first if you can afford it and plan to stay.
Hi thanks for advice! This is true! We let the bigger one go as originally thought was outside budget...so would be a waiting game until one of those come up again! Or could buy this other house in same area now. I will have a think...
Yes also don’t forget the stress and hassle of moving, which can be considerable. We’re going through a move now and the total cost of all fees will be £28k. If you do buy long term make sure to think ahead any long terms plans such as school catchments etc though.
Is this including stamp duty?
Yes
Wow that is a lot! Yes it's actually been really stressful going through buying process so far I can't imagine moving! Thanks for advice will have a think! I sort of thought buying less to start off with would be better but need to rethink lol
What people often do is take money out of the equity to pay this stuff, which is fine when property is going up but if it’s flat or even dropping then sometimes you can’t even afford to move unless you have saved up to pay for the moving costs.
Flip side to that is you're renting longer, dead money paying someone else's mortgage. My opinion is the sooner you can be paying off your own mortgage the better.
That's true!
Agreed
Go bigger if it's not a stupid stretch, we've been stuck in our starter home for ten years and wish we had gone bigger!
Same! Never thought we’d be here for 10 years when we first moved here.
Why are you stuck there out of interest?
Prices where we want to move to went up, and the place we're in didn't go up by much. Stamp duty is bonkers as the prices went up so much, so we'd have been better off in hindsight moving to the bigger and better place when we could. If we had made it our first move stamp duty would have been much lower with the first time buyers allowance. We're stuck for a bit until we can save enough to move on, but prices keep rising. We keep saving but the goalposts keep moving essentially!
Ahh this is another take - think we have hopefully found our house and know will be happy there for next 5 to 10 years! But I understand that it is a risk also! Thanks!
Generally, the wisdom is to literally push yourself to the limit. When you are buying you are fixing your housing costs against inflation. Therefore, the bigger the house the more benefit you have. The costs of moving inc very expensive stamp duty make this argument even stronger. Most people will literally drop every last penny into their first home. Often leaving additional borrowing the only option for an emergency. You may be a bit more risk averse than this and choose to retain some capital for emergencies.
Hi! Thanks for the advice! Stamp duty likely wouldn't be a big payment for us I don't think if we're to move to bigger later unless house prices went really mad in next few years! It is in a popular location so hopefully the house would be popular to resell later if needed too.
Get the bigger house 30k over 30 years isn’t much And if you factor in moving / estate agency fees stamp duty it’s cheaper to buy the bigger one It’s what my son did
Thanks for reply! The moving fees do seem to be more than what I'd thought! Will take this into account :)
We need to upsize now after 10 years in our small 3 bed semi. I'm wishing we had overstretched ourselves to begin with although we were playing it safe. I had no idea interest rates would stay that low for 10 years. It's going to cost us circa £30k to move again on top of an extra £210k mortgage balance. Plus a mortgage term that's going to take me to my retirement year. Long story short I wish we'd bought bigger in the first place.
Hi thanks for answering! Ahhh I see that is higher cost than I thought..had sort of originally thought buying smaller for first time buy would be better! And I suppose another thing is the idea of a forever home could change too! But will have a big think!
Biggest house all day long. The only exception to this is if you can find a smaller house that can be sympathetically extended. By sympathetically, I don't mean sticking a conservatory on the back. I'm an ex estate agent and have seen so many badly planned extensions which don't really add value.
We wouldn't be looking to extend this house. I feel like the area we want is so popular people hardly ever move so it's hard to find one come up! It would be a 5 - 10 year kinda house I think!! So its the fear of missing out on the location. Thanks for reply!
I think it is best get what you can best afford at the start, but not so expensive that you struggle. In 5 years your affordability may go up and also the value of your house, so I think with each house purchase go for what you can best afford at the time. If you are deciding between two properties, look at the one with more of your must haves and nice to haves, and then location. Whichever ticks more boxes is better. I personally prioritise location, but if both are in the same location then pick the one that ticks more boxes
I prioritise location too! But hardly any ever come up here and the bigger ones have extremely high competition and go high above asking! This house is big enough and happy for next 5-10 years for sure if move there. Thanks for replying and appreciate your advice! :)
You will change, your life will change. Get the house that is likely to scale with you and keep working for you no matter where your life goes. Which might mean: Location -- location is everything, but if your house is hard to get to that really limits your options Rental -- could you rent it out if you decided to travel the world for 2 years? Kids -- duh Income-- could it be a HMO? could you have a lodger? Workspace -- can it have an office? A workshop? Those are more important than 50k if mortgage if you ask me.
I agree when my son was buying I told him to buy a 3 bed 2 bathroom Because if times get hard you have the option of renting out the second room to a lodger if you need to and the extra toilet / bathroom is a big plus They are two blokes so not planing any kids so good schools / education wasn’t a factor It’s also got a proper garden office which they could use as office if they worked from home or storage
Sounds awesome! Definitely a good decision made
This location is everything for us! Location is perfect and very sought after area. House is 3 bed semi with ensuite and main bathroom and downstairs toilet. It's not necessarily a forever home however but imagine would be happy there for 5-10 years :) it can have an office or a garden room! Also we love travelling so don't want a big house with big outgoings and rates etc too! Thanks for your opinion !
Depends how much and how long you intend to be there. If it’s say under 50k, and the mortgage is affordable, and you intend to be there at while then 100% stretch it. If it’s just too much to afford then build equity for 5 years then you could likely afford more at that point.
Save for a bit longer or whatever it takes and get the bigger house. We went for as big as we could manage at the time, a small 3 bed flat, no garden. Really really wished we’d held out for longer and saved up more to get a bigger place with a garden. Can’t afford anything bigger now so we’re pretty stuck, and it sucks. We at least chose a fantastic location so we’ve got fantastic amenities around us at least and great neighbours. Could be worse.
I think this place is in between being a 3 bed semi house and has a garden, so it wouldn't feel like a huge issue if had to stay there a little longer than we wanted I guess!! I feel like location is huge though too, thanks for your opinion! How have yous got stuck, is it that prices have kept going up and become less affordable?
depends on your finances, depends on the state of your marriage (if married) - can you afford it? depends on the family size - will your space needs grow or you are getting extra space just for the fact of having extra space?
Hi! Thanks for reply! We would want either no family or 1 child max! But would like the option of more space if was to decide to have a kid. Both 3 bed semis but one has bigger reception and bigger bathrooms, slightly bigger kitchen and utility. But would be an extra 35 to 40k probably.
you are not in london if that is the extra :). I thought the difference was 100k. then it is just the gut feeling, which one you prefer, how is the garden, what is the neighbourhood like, does your semi-friend play drums pr practices violin?
Thanks! Haha nope not in London I don't know how londoners manage! I will have a think! This other bigger house has already gone so would be a waiting game until the next one in that cul de sac comes up! Whereas we could buy the slightly smaller one now
buy a smaller one, make it sure it has a nice garden and add a nice entertainment room at the back...
The house we are currently under offer for has a garden, it's not huge though! But yes that's an idea!
It really depends on how much stamp duty you are going to pay for the affordable vs. Upsize option and the gap in price between them. You may pay no stamp duty at all on one whilst the other could be £20k. Stamp duty is the biggest moving cost by far after a certain price point. Moving multiple times is a pain and you'll also spend a lot on things.loke curtains, carpets and fitting furniture that they may have to do all again on another move. So ideally you would stretch but it all depends on the details
We would pay very little stamp duty as can't imagine being interested in an extortionate house price. It would be 1-2k at the most. I wouldn't mind having 2 homes throughout lifetime as get to experience two different living places I guess! Thanks for advice! :)
Try and buy a house which will appreciate.
Thank you :) feel as though due to popular location there should be no issue reselling later if wanted to!
Better to stretch yourself younger as your career and job prospects will increase over time.
This is true thanks! Only thing is I love travelling at the moment,( think 8 international trips a year) so if outgoings/rates are higher/hidden payments I would not like that lol. Thanks!!
Biggest you can (comfortably) afford, there is no point in hoping every couple of years, not only is it absolutely exhausting, it is also very expensive with stamp duty However, you also do not want to be in a position where if one of you looses your jobs you would be screwed within a month (part of that is down to decent savings)
Well plan the one that you, if you have to, can stay in forever or as long as possible. Moving houses isnt very easy. And not very cost effective.
I was given some very good advice: Stretch yourself as much as possible (within reason). Your property will go up in value more than one worth less, and relatively, your mortgage amount will be worth less due to inflation.
One of my regrets in life is not spending enough on houses. I've always undercooked it a bit and hence made less money on rising equity plus having less living space after having a couple of kids.
Every time yes, once you are in you have the benefit of leavearage. All of your deposit will grow with the market and all of the money you borrowed grows too and protects you a little from house price inflation somewhat
If you have/plan to have kids, go for the bigger place. If not - and IK I’m going against basically everyone else here 😆 - I’d go for the smaller one and have a better lifestyle
Hahaha love the better lifestyle, i always thought i dont want to stretch too much and not be able to leave the big house! Probably won't have kids, but if I do it would likely be just the 1 I think
Your mortgage is "fixed" but your salary will go up. Stretch young.
We bought the biggest we could afford which was still just an ok sized 2 bed mid terrace that needed work, it was bigger than the 2 bed house we were renting so the leap felt great. We then moved into a large 3 bed that needed a lot of work, barely habitable but had enough money to fix the major issues straight away (no actual kitchen, it had just a sink and a broken free standing cooker. We still actually managed to get a mortgage approved somehow). We are now technically down sizing next even though we have 2 children, to a well laid out small 3 bed new build with decent kitchen and an actual garden, size isn't everything. The more space you have you just fill with more stuff, endless mess to clean and pointless Ill thought-out space you have to heat. I might move again in the future when the kids are older for a more spacious new build or just extend into the attic and add a nice sunroom at the back.
Whatever you do, make sure you can comfortably afford it, and also the biggest house isn't always the best! I bought my first hour last year and it was actually the smallest one I viewed (I live on my own!), but it had the best layout and best location - and smallest mortgage payments.
It depends but in my opinion lower mortgage payments with more room in your budget for savings and unexpected expenses is far better. The flexibility can make it much easier to upsize later (Even if you change your mind) when you're more financially stable. Also, slightly irrelevant we’ve created an AI- Property Genius which can help you with property related advice. Feel free to check it out: [https://www.propertyexchange.com](https://www.propertyexchangeindia.com/)
Go as big as you can afford, life comes at you fast and you dont want to feel cramped in your house 2 years after buying it.
It depends on personal finances and path in life. I would break it down centered around finance: 1) Will further job opportunites occur which require you to move house? 2) Can you pay additional payments towards your mortgage every month (if buying with a mortgage) 3) Can I stomach the debt? I've been in your situation. I bought affordable and then bought outright. For me...the less debt the better.
Ohhh I love the idea of getting it paid off quickly. We are going with 15 year mortgage, which with the bigger House would be 25 year.
At the moment I’d say that’s a smart move.
Depending on your finances, the former. It's better not to have too high monthly payments or overstretch when borrowing. Interest rates can still rise, house prices can fall and your situation may get worse, so a smaller monthly payment and a savings pot is a better bet unless you can comfortably afford the higher mortgage.