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Move or renovate(7 Posts)
Sorry for all the recent posts but could do with some advice as my head is not straight. Apologies for horrific length.
Mortgage ends in December. We've focused on paying that off in recent years and not done much to the house.
House is a 30 year old 4 bed detached. No ensuite or utility but has intergrated garage and conservatory. Reasonable garden. Lovely close in lovely small market town. Ok neighbours. We are a family of 4 with 2 dds in upper ks2.
We need to replace windows (are doing that regardless), do a bit of general maintenance (roof, guttering), redo bathroom, redecorate including plastering our bedroom ceiling, reskimming one of the spare rooms, moving the kids into their own separate rooms, recarpetting whole house and replacing internal doors. We also want to upgrade the kitchen but more in terms of replacing doors and appliances rather than a full re do.
Then we also want more living space. The conservatory is old so whilst sound structurally, is too hot/cold and needs a few panes replacing and to be functional needs a new roof at least. We are also considering converting the garage to a living space.
Appreciate this is a long list and will be done over a few years. However dh threw into the mix the possibility of moving. Realistically this would be slightly out of the area, wouldn't happen until well after brexit. I also have to consider my widowed dm as I don't want to be too far from her.
So not sure what to do. My current thinking is prioritise windows (they are knackered) and remedial bits and bobs including all the plastering. Maybe park bathroom for a year but give it a super good clean up.
This makes the place more sellable if we decide to go but needs doing anyway if we stay and shouldn't cost the earth.
Sorry am thinking aloud but hadn't really considered moving til dh chucked in the curve ball on the weekend!
Is well after Brexit months or years?
What you spend on the work very much depends on how much use you will get from a new bathroom v. getting your money back. A lot of buyers would rather buy a house with a dated but serviceable bathroom and do it up to their tastes. Cheap makeovers can be a waste of money. Kitchens and bathrooms sell houses.
You are unlikely to recoup the money spend on new windows - depends whether it's replacement double glazed units fitted to existing frames or complete new windows.
You need to decide when you might move and prioritise accordingly. Small jobs that need doing are often seen as a sign more important maintenance has not been carried out.
I would renovate if the house and area are working well for you. You could use the money you would spend on fees and stamp duty to do quite a few of those jobs on your list.
Thanks for thoughts. If we did move I think it would be in a couple of years alongside the kids move to secondary by which time I hope we'd be through the initial brexit turmoil and have an idea of what the landscape looks like. This also coincides with what is likely to be a career junction for me as well where a move may open up my commuting options.
That said I don't think I want to move! I love my little town and my little house. It may be a bit scruffy but I can fix that.
We do need to do windows - they are really ropey, drafty and a few have blown. If we're looking at 2 years if we move, I'm happy to get them done now, reap the benefits and not have them devalue the property (they are that bad!). Luckily the other stuff is mostly minor/cosmetic as we had a bunch of stuff done when we moved in including new heating.
We moved. I didn't want to. We have a bigger, better house in a nicer neighbourhood that's increased more in value than our old one ever could (because of the area) but by God I wish we'd stayed and renovated. Why? Because my heart will always be there.
Look at stamp duty and add estate agent, solicitor and removal fees - could be £20-30k depending on the value of your house! You could stay put and spend that money on your current house? On the other hand living with lots of work going on in the house can be hell and will always cost more than you think and take longer than you were expecting.
You've got 4 bed detached with a garage, why move unless you have 3+ DC or hate your area. Do little bits and bobs and see how you feel after Brexit.
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