Aibu to want to borrow?

7 replies

user1471514421 · 03/05/2019 22:27

Evening everyone

My dh and I have what would be considered by most standards a reasonable size (2700sq ft) comfortable home, however since we have had 2dc, it seems to have become impractical in some elements, kitchen living space etc.

I would love to extend the property and convert attic, rough calculations, cost could end up about 150k.

We have no mortgage at present, cleared last year from early inheritance. Dh is reluctant to borrow again. I think we are v young, early 30's good income, why wouldn't me proceed?

Who is bu?

OP posts:

UnPocoLoco2 · 03/05/2019 22:50

Dh seems sensible. We have young kids and a small house ( no garden either) but we manage.
If you're free of greedy banks why would you want to be involved with them again? What if something happened and you had to sell up or something?

Just seems like Russian roulette again. Sometimes you just cannot have it all.

OwlinaTree · 03/05/2019 22:52

I'd go for it. You are young enough to pay that back. Or move house?

Original poster

user1471514421 · 03/05/2019 22:55

House is currently worth alot more than 150k, as it stands. This is forever home, family land.

Ideally I wouldn't like to involve banks, but I want the beautiful house more!

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VimFuego101 · 03/05/2019 22:58

2700sq ft is a pretty decent size. Can you give some though to how you can use the space better? It would be much cheaper to invest in decent storage solutions than to extend. I would love to be mortgage free.

How old are your children? I felt like there was crap EVERYWHERE when DS was a toddler. It's slowly getting better now he's 7 and he's getting more into computer games and lego (which can be neatly stored on Ikea shelving) and less into mountains of plastic toys.

Original poster

user1471514421 · 03/05/2019 23:00

Babies are 3 and 1, yes trying to explore all options. Yes very lucky to be mortgage free

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MeredithGrey1 · 03/05/2019 23:08

Do you have to do it all at once? Maybe your DH would be more willing to borrow a smaller amount of money and just do the attic conversion for example? Obviously that depends on what precisely the plans are and whether separating them out would make sense.

Original poster

user1471514421 · 03/05/2019 23:10

It would mainly be attic conversion, removing internal walls and adding extention.

Of course I see the practical side, however at times I think to help with it let's just do it

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