Bonds often behave very differently than stocks do. By having some of each, you can reduce the overall volatility of your portfolio by rebalancing. I'm not sure how you do that with a house, unless you sell a room when the price goes up. Your profile shows that you are retired, so I assume you are drawing down your portfolio to pay living expenses. Most folks have a few years worth of "cash" (MM funds, CDs, etc) that they can live off if stocks are down, so they don't have to sell their shares at a low share price. Likewise, having bonds gives you another different asset type to sell if the stock market is down.
Is this house you're buying your personal residence or an income property? If it's your residence, then it's only something you live in, not a part of your investment portfolio that can be readily tapped. If you've invested your "bond 40%" in your residence, then is your remaining portfolio 100% stocks? Does that seem like a prudent investment allocation for you?