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I think for most people it's more about having a bit more physical and financial wriggle room. It's exhausting always being stretched to the limit the whole time. I don't need to tell you this. I've never cared about making loads of money - I just want enough.
dan-
I just want enough.
Indeed. The more I pay off the mortgage the fewer hours I want to work. I don't aspire to a bigger/nicer house or more stuff. (I do have garage envy though.)
It remains tight but our quality of life slowly improves. Only working 4 days a week (and my wife only working 3 days a week) is brilliant during the school holidays. Same with salary sacrifice to get an extra 2 weeks' holiday a year. MiniGB is very happy in a good local school (there aren't many, if any, shit local schools around here).
We don't want to move out of London (Mrs GB grew up 3 miles away from where we live, and never wants to be further than that) and we're in the lucky position that we've got enough space for our needs; we couldn't afford any more anyway. I'd happily live anywhere (grew up in the sticks - small village south of Cambridge, University in Sheffield, lived in big cities and small towns in the US for a while, but mostly 15 years in London).
Sure, a big garden (with direct access) would be nice, but there's hardly a garden in this area that's big enough any child when they get past 6 years old (for a decent game of football, cricket, etc) - that's what the local parks are for. Our small garden (without direct access) is still big enough for sitting in over the summer with a paddling pool or a sprinkler for entertainment.
20 minutes on the train to Waterloo, 10 minute run (crossing two minor roads and barely seeing a car) and I'm on Wimbledon Common. A bit more of a run/cycle and one major road to cross and I'm in Richmond Park.
If London works for you then it's great, when the time does come to downsize (kids leaving home, etc) or bail to the sticks completely the longer you've been there the better the return is likely to be.
But there are plenty of reasons why London doesn't work for everyone. I'll admit we were lucky to have bought 10 years ago (even though it was near the peak of the market at the time), but we were careful to buy something that could last us 30 years if it needed to, and we've only got one sprog (and no chance of any more).
Greenbank
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