Is a £1.15m property too much

33M and 32F here. Joint gross annual income of ~£275k.

No kids. No cars. No debt. Like travelling and good wine, but also want to retire early 50’s.

Joint pension and savings is around £150k and we also have a £250k cash deposit for a house.

About to buy a property worth £1.15m with the above deposit.

Mortgage would be £3.8k per month, with joint net salary at £11k per month.

Are we being dumb? Should we buy a cheaper place or is this a reasonable next step.

Undecided on kids.