Holidays or home improvements

[Kimberlymikado]

Just pondering really, we live in a lovely home in a great area, forever home I feel. Our kids are older now 13 and nearly 11 and I want to prioritise travel and experiences and have some lovely trips planned this year. I'd also love to extend our kitchen, it's not a necessity but a nice to have.
If I do the extension the overseas travel will have to be seriously curtailed. ...my thinking is we'll look back on the travel memories more than the big kitchen when they are older?Which do you prioritise?

I’d go for the holidays but that’s obviously my personal opinion. Extending kitchen will probably add value to property but I assume your current kitchen is workable?

Start savings pot for kitchen?

I’d go for both, I’d get a long term loan for the kitchen or increase your mortgage or mortgage term and use salary for travel. The new kitchen will increase the value of the house so you’ll get it back when you eventually sell.
You need space in the house while your DC are at home and it would be nice to travel with them too.

Thanks yes that's the dilemma, the space in the kitchen is fine but would love to add more space for sofa/ lounge area especially as kids get older somewhere they can hang out with friends...
Really need to see what cost is and see if all doable....don't want to tie myself up in debt and sacrifice holidays though either