I was reading a post where there was a comparison between 2 countries mainly UK and India. In UK when the kids are small, the houses are big and when the kids move out, the parents sell that big house and move to a smaller house so that it is manageable. Now in India, people usually don't have a big house, they save, invest and then build a house. So they have a small house when the kids are small, they have a bigger house when the kids are bigger. Now when the kids move out, the parents stay in that big house itself, in the anticipation that the children might come back.
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Now this is true, my uncle have a really big house in one of the tier 2 city. Now when the children move out because of their job, the uncle and aunt is still staying in that big house. Now it's unmagable for them but they think that some day the children might come back. But the better option is to sell that house, get a smaller house and stay in that house. But in India bigger house means, bugger respect. It's a type of show off in India. And that's why most people spend their life savings on the house.
I am not saying that you should not buy a house. You can buy a big house if the family is big, you should move to a smaller house when the family is smaller because then you will free up the money as well as it will be a manageable. When only 2 people are staying, you don't need 4 to 5 rooms, 2 rooms is more than enough. I am not sure if UK people does it but if they are doing it, it's actually a good thing. Here in India, people usually don't sell the house where they are staying and thus the real estate never becomes a investment, it's always a high value asset.
