Entry-Level Henry worried about lifestyle creep with house move.
Hey everyone, would love to get some thoughts on a house move.
I (28m) am on 155k OTE (120 base + 30 commission), partner is on 30k and so my net household income is £8k/month assuming no commission. My partner and I are in the process of buying a house (we are selling too), and we've found one for £600k that we love. We'd be mortgaging £500k. With current rates the mortgage is looking like it'll come in at ~£2500/month worst case scenario.
I have £95k in the bank (ISA and S&S ISA) which is serving as an emergency fund in case I lose my job.
The house is great and we could be there forever, but I'm so inherently risk averse that the idea of being committed to spending that much every month scares me. By most metrics this is well within normal/acceptable, but also the concept of being house poor is scary.
Sorry for the braindump, but eager to hear people's thoughts as another data point.