To move or extend?

[WitchyWay]

I was wondering if I could get some (non-judgemental) views on whether you think moving or extending is best. It's going round and round my head and I need some external sense checking!

Some context to my person situation... Family of 5, kids are young. We both work from home and are home bods. We have a 3 bed semi with a study which we've mostly renovated, the only space left to do is the downstairs. Our plans are to do a double storey extension in a few years which will give us a 4th bedroom, bigger kitchen, utility and possibly another small study. We love our house and planned to stay here forever. It's nothing fancy but we love it non the less and it's well within our affordability currently. Estimating the extension cost to be ~£100k once including new kitchen, flooring, landscaping etc.

BUT we've recently wondered if it would be just as expensive to extend as it would to move. With the cost of labour and materials, we're looking at a big cost to extend and there's a ceiling on our type of property.

If we move, we'll likely want to stretch our mortgage as much as possible to get everything we want. More outside space. A 4th bedroom and utility etc already in situ. In our area, we could spend £200k more (so double the cost of extension) and get all that plus a bigger plot on a "better" road. Same town. We could afford the mortgage fine as it is, although of course increases the risk if one of us has to stop working.

I guess my question is; do we stay where we are and extend, keeping us well within our affordability but in an average run of the mill house and road.

Or do we move now (mid 30s) to a bigger and better property as if we don't now, we may never get the chance. Property is the safest investment after all?

What would you do?! (Or what have you done?!).

Thanks so much, I know it's a boring thread for many but would really appreciate your views!

I’d be surprised if you could do a two story extension and new kitchen for £100k. Costs have gone up so much.

@fruitbrewhaha oh really?! I know it depends on square footage and finish but do you know roughly how much they'd cost? We're in the South East.

I personally would move. The stress and upheaval of an extension, loss of garden space, increasing costs, it all seems easier to just move.

We’re in the South East too. Our single story extension (around 24 square meters) has cost us about £85k. (This includes decorating, and installing a utility room). We originally expected it to be MUCH cheaper, and costs have just kept spiralling. Bear in mind that something will ALWAYS go wrong and add money. The builder originally said it would take 10 weeks to complete. It’s now been 5 months since the initial completion date and we’re still waiting for snagging to be done. 😂
I definitely would just move instead if I could go back in time.
if you do go for an extension, make sure you’re really strict with the builder, get detailed cost breakdowns for everything before they start, question everything, and don’t give them too much money too early in the project. Either way, good luck OP!

Depends on size, where you live, who you use, materials type of brick used and then internal furnisihsing and other costs.

An extension done well that compliments the house will surpass costs come selling

Imortant factor is there is always a ceiling price in the road

I’d be amazed if you can get that done for £100k. But I guess if it really is just what you say (and no internal renovations) you might get close if you do the kitchen very cheaply and it’s not a massive one. IKEA kitchens are decent quality and good value. But get the appliances elsewhere

I'm so grateful for the comments, I think I've been a bit naive, I thought £100k would be plenty!

There's definitely a ceiling on our road and we're probably close to it already.

Have made some calls to estate agents and will keep our eyes out. I hate the idea of moving as life feels busy enough already but we need the space in the future and moving would be a whole lot easier than extending with 3 young kids!

Yeah, don’t underestimate the toll renovating will take on you and the family. We’re just reaching the end of a nearly year-long complete reno and extension and it’s nearly broken us all - individually and as a family. And my kids are older.

2 storey extension for 100k? Where do you live? I'm not in London, and have been quoted 110k on average for a single storey standard, about 36 sqm. That's before kitchen, flooring, bifolds...

I’d move, but that’s because our two storey extension resulted in me having a mental breakdown . I will never put myself through that again. That said I am undiagnosed ASD, and struggled with the upheaval, mess, problems, terrible communication from builders, terrible slap dash work, plus life being tough anyway. F-ing disastrous for my mental health.

I echo this....wouldn't have thought this kind of extension is possible for 100k.

Having just come through a major renovation, don't underestimate hidden costs and the stress. It was worth it for us but it really isn't something to embark on lightly!

Nearer 250k. Plus rental while you're not living there.

I'm about to move back to my house after a 12 month double story side and back extension.

No way will you get that all for 100K plus it will still always be a semi detached.
I live in one and have nothing against them but I don’t think you would recoup costs. Plus living in that sort of building work for months with children, no way.

Another one to say we live in Yorkshire and had a single storey extension, new kitchen etc and that was 85k back in 2022 with the builder honouring the quote he done as the prices had gone up. I'd say you would be looking at at least £120k for for a two storey