The speaker looks back on a house shared with someone else, and the whole poem is a quiet act of remembering. The house was small, but the speaker says it was "the perfect size for us," which tells you right away that love mattered more than space here. The details are ordinary and warm: mornings on the deck in the sun, nights in bed with paint on the sheets, a beat-up love seat that smelled of peanut butter and daydreams. The paint suggests the two of them were making something, maybe decorating or creating art, though the poem doesn't say.
The speaker feels fond and a little wistful. Opening with "We had a house" puts the whole thing in the past, so the happiness comes with a hint of loss. The mood is cozy, relaxed, and tender. By ending on the "little bungalo" and its "best moments," the speaker shows that a home is really about the life lived inside it.