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Stay or move?

(10 Posts)
Stumbleine Sat 27-May-17 11:30:20

We have been in our current house for only 2 years. It is a 4 bed which needed complete renovation. We have done a fair bit of the work...new kitchen diner, solid wood floors new internal doors, carpets decoration, and replaced a few windows/external doors. It's still needs a new boiler and bathroom, front door, windows etc.

Since moving in we have had a surprise fourth child! Due to the ages of the other dc, sharing won't be ideal. I would also quite like another shower room/bathroom. Our house also has a large, south facing garden and is in the centre of the village. Plenty of opportunity to extend if we wanted/could afford to.

A new build house has just come on to the market (not yet built). It will have 5 beds, 3 bathrooms. It is on a nicer street but on the periphery of the village, and won't have as a big a garden. BUT more internal space - bigger rooms and a fifth bedroom. It is detached but not 'as detached' as our current house iyswim?

Price wise - it is on for approx 30k more than I think our current house will sell for.

I would love some objective opinions please!

Beckyb1 Sat 27-May-17 11:34:23

Take into account stamp duty, fees, paying for added extras you would want in a new build such as carpets, upgraded kitchen etc and your talking a lot of money. Surely a larger garden with more children and room to extend would be a cheaper alternative?

caffelatte100 Sat 27-May-17 11:34:47

well the renovations you need to do on your current 4 bed will cost more than 30 K? If it's a new build, you will be able to choose (I guess) the fittings etc you like.

Not sure of the logistics of securing the new house (deposit etc) while not having sold your house. Could be tricky or is that manageable?

DancingLedge Sat 27-May-17 11:35:57

First thing I'd look at is room sizes.Sounds like your current is an older house, room sizes in new builds are mostly shrinking.

Stumbleine Sat 27-May-17 11:50:19

Hmm yes, I'm not sure how it all works with new builds re deposit etc.

Looking at the floor plan the rooms in the new house are bigger than in our current house. That said ours are really well laid out...

Lucisky Sat 27-May-17 12:47:16

If you like your house and have room to extend I would think staying would be a better option financially, especially as you have a big garden. Besides, if you sell your house you will either have to do your outstanding jobs or reduce the price accordingly. New builds are put on such small plots now, you can't beat having a bit of land, after all, they're not making any more of it!

Riderontheswarm Sat 27-May-17 13:02:52

I think whatever you choose will be good. I would be stressed having to do all the work that needs done in your current house so would probably go for the new build but you are fine fixing houses up so it wouldn't annoy you the same way and moving house does mean stamp duty, fees, chains etc so is hardly hassle free. I think you should go with whichever house you prefer, the new one or your current one in its final fixed up state.

OVienna Sat 27-May-17 13:05:20

I'd move.
smile

Stumbleine Sat 27-May-17 15:53:48

Thanks for the input. I have picked up the plans from the estate agent and it does seem we would have a lot more internal space! The garden is also surprisingly decent (although still smaller than ours now). Need to do some sums!

sunshinesupermum Sat 27-May-17 16:00:53

It's the actual costs of buying and selling that need to be looked at carefully versus the cost of extending your current home which I imagine with the renovaations you've done to date are to your own taste?

Plus the anxiety and upheaval of trying to sell your property and moving to a new one that hasn't yet been built. If you don't love your current home then yes move but as it's only partly renovated it may be a difficult sell. New builds often attract buyers simply because tey look so fresh and new which may be the main reasons you like this one!

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