Anyone regret buying a home to “grow into”?
My husband and I (28-30 yo) have been on the verge of buying a house for the last year or so, and considering pulling the trigger. We have no kids, make $185k annually, and thinking of buying a home a little too big so we can grow into it. We’d like to have 2-3 kids, and not move for the next 20+ years, since both our families are in the area.
House info: $430k, $11k annual taxes, 4BR, 2800 sqft, 20% down, great credit, car + student loan = $750/mo for next 3ish yrs. Our mortgage/tax/insurance payment I estimate = $2700/mo. We pay rent at $1900/mo, and are putting ~50% of income after tax in savings (retirement and high yield savings)
However, I can’t kick the feeling that we’re buying a house that’s too big. It’s just the 2 of us right now, so it feels kind of weird to move into this huge home. I’ve always been frugal and tried to live below my means, so taking this step is outside my comfort zone. We’ve considered buying a starter home, or moving after having kids (in 1-2 yrs), but I would hate to have to move with more people/possessions or pay selling/closing costs multiple times.
I’ve had trouble getting advice from family and friends, who either can’t financial afford a large 4BR home, or have older kids and need the space. I guess I’m just looking for anecdotal advice from anyone (even internet strangers!) who have been in a similar situation. Has anyone here bought a house and regretted it being too big? Anyone regretting buying too small then moving? 18% towards housing doesn’t seem absurd, but buying a huge home with no kids (yet) does.