To extend or to move…

[tom13m85]

Hi All,

 

thanks for having me. We’re currently weighing up the question of whether to move house to gain more space downstairs and an extra bedroom, or whether a single storey rear extension and full loft conversion will be cheaper. I have some specific questions around permitted development that I hope you all can assist me with. I’ll post the specific under the relevant area shortly

[joe90]

Welcome, I am sure many face the same dilemma so bring on the the questions, Oodles of good advise and real world knowledge here 👍

[saveasteading]

1 hour ago, tom13m85 said:

weighing up the question

Financially, you seldom increase the value of a house by as much as the cost.

To which add the disruption.

 

However, the costs and hassles in moving are even greater. 

 

It's going to be your choice obviously, but BH can do a lot in helping with the extension route and hence the decision. And later the detail if you go for it.

[joe90]

3 minutes ago, saveasteading said:

Financially, you seldom increase the value of a house by as much as the cost.

To which add the disruption.

I agree and you need to take into account how happy you are living where you are? Also the risk in finding another place that suits you 🤷‍♂️

[tom13m85]

Yep, its a tough one. The cost to extend and have loft done i’m guessing will £120k ish. We paid £222k for this back in 2018, its prob currently valued around £275k with the extension it might go up to about £300-£325, meaning we wont be massively out of pocket on what we paid plus build cost. Point being though we would be intending staying here permanently meaning the value is moot.

 

for a 4 bed house with the design we’re looking for (ie no mods other than decorating needed), only options seem to be in pricier areas so getting on for 400-500k.

 

Topic is posted under the extensions section today so please have a look if you can. Thanks!