Okay - fair do's , I understand now.Count Steer wrote: ↑Thu Feb 01, 2024 10:37 amIn simple terms, I've seen a house I'd like to move to but, unless I completely empty the coffers, can't buy and can't get a mortgage obvs. If I'd kept moving 'up' for a few more years instead of saying 'this'll do' I'd probably be able to move/downsize and pocket the difference.Mr Moofo wrote: ↑Thu Feb 01, 2024 10:09 amI am not sure I understand the logic of that. Keep on paying for an asset on raised mortgage or have said asset - with no risk to it being taken away. It is still a rising asset!Count Steer wrote: ↑Thu Feb 01, 2024 10:06 am PS Having the mortgage paid off is BUT I sometimes wish I'd not done it so soon and kept moving/upgrading up until I retired - then paid it off because it's the one investment that keeps on giving in terms of rising asset value. Once you get off that escalator you're pretty much in downsizing territory each move or moving to cheaper areas to maintain the standard/improve your accommodation.
@weeksy you might be surprised how little £800k - 1M gets you in some locations.
800k buys a 3 bed semi in these parts