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If selling - build an extension or not?

(16 Posts)
TracyK Mon 27-Jun-05 11:05:29

We have got planning permission for a 2 storey extension onto our house. We have got the builders booked for a week on Monday. dh has a job interview on Friday for a job in Leeds - so if he gets it we'll be on the move!
Should we go ahead with the extension and sell after its finished - or cancel the builders and sell the house with planning permission?

starlover Mon 27-Jun-05 11:06:58

i would put builders on hold, and then sell with planning permission

TracyK Mon 27-Jun-05 12:06:16

But what if he doesn't get the job and then we lose our slot with the builder?

throckenholt Mon 27-Jun-05 12:08:42

how long is the extension going to take and how long would it be before moving if he got the job ?

The house may be worth more with the extension - maybe ask estate agents if they think it is worth going ahead.

Maybe they could build the shell but leave the finishing for the new people - so they can do it the way they want.

Do you have a contract with the builder - are the penalties if you pull out ?

TracyK Mon 27-Jun-05 13:24:33

They reckon the ext would take about 16 weeks to complete - but thats including kitchen and bathroom. SO would be less for just the shell. Maybe 12 weeks.
DH would live away during the week and ret. w/ends till house sold - just don't know whether we'd get money back in such a short time. and no contract with builders.

mancmum Mon 27-Jun-05 13:42:40

I would do it-- no guarantee of the job but if you do extend you get more money that you spend back when you sell...

throckenholt Mon 27-Jun-05 13:52:19

I am inclined to say if you can stand the hassle of having it done then go ahead with it. Unless there is something wrong with the design or the house is already close to its ceiling height in the area then you are likely to at least recoup your costs.

But it is probably worth checking with a few estate agents first - they know the local area and what sells for what price.

LunarSea Mon 27-Jun-05 14:31:13

I'd ask an estate agent to value the house as is, and give an alternative valuation with the extension built. Then you'd have a fair idea of what value you'd be adding to the house vs what it's going to cost, and can decide if it's worth the hassle, should the job possibility come off.

yoyo Mon 27-Jun-05 14:37:03

I would sell it with planning. If you are going to move the last thing you will want to do is check on building work. Presumably you will be house-hunting too so time will be precious. You would be able to give prospective buyers a good idea of the cost of an extension if they were thinking along those lines. I would only do building work if it was absolutely necessary.

throckenholt Mon 27-Jun-05 14:54:30

any idea what the odds of him getting the job are ?

Guard Mon 27-Jun-05 15:01:22

Can he explain to the new employers after the interview and see if they can give him an initial indication? We have just done a 2 storey extension and it is a lot of hassle (worth it) but if you were trying to move it might not be hassle you wanted. You could always talk to the builders about the programme - there's always preparation work etc that might buy some time... Regardless - try and get a contract JIT do one for homeowners to manage - which I used and it saves loads of hassle...

TracyK Mon 27-Jun-05 20:09:01

Its actually an internal promotion/move. He 99% has to move from his present job and can either move sideways into London or has applied for a promotion in Leeds. There is only one other chap applying for Leeds - but is actually workingin leeds branch at present so may have a better chance.
I think I shall let the builders do the excavating/clearing the site - which should take 3 or 4 days - which we could feasibly have to do before selling anyway - as we have let that bit of the garden grow wild in anticipation of being dug away. By this time we should know re Leeds and if needs be - cancel the rest of the project. We won't be popular - but have only booked the ob in the last month - so not as if we have been booked for a year or more.

throckenholt Wed 29-Jun-05 07:29:17

wow - how did you find a builder at such short notice ? Takes months round here (we have just completed that painful phase - signed a contract with the builder yesterday - he can't start til October though).

TracyK Wed 29-Jun-05 08:34:35

Well - we got quotes from 4 builders and they were all about £54k-£58k apart from one who came in at £72k!! we didn't use him obviously.
We are using the company that built our architect's extension. Although they are a small company I think they have a lot of subbies. They were just going to do the excavation and foundations and then do the rest at the end of August - but dh (in his wisdom) decided to tell them to go ahead and do the whole thing!
But spoke to the estate agent yesterday and he said not to do the work if selling. Sell with planning permission. So dh will have to stall the builders till he knows re Leeds job.
I hope he doesn't get it - I had such a beautiful kitchen designed!

throckenholt Wed 29-Jun-05 08:42:58

hope it works out for you - you can always buy a house in Leeds that needs a new kitchen ! Or even an extension if you really feel the need to have a building project .

Maybe contact the builders today and be honest - say it has all come up very quickly and you need to stall for a week to find out what is really happening.

It maybe that if you sell the new buyers would take on the builders - given you have already done all the leg work re quotes etc.

TracyK Wed 29-Jun-05 10:15:47

Thanks Throckenholt. dh has phoned builders and come clean with them - they said to give them a call when we are ready.
dh should find out by Monday whether he has job or not as there are only 2 of them going for it.

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