DH and I are wanting to build an extension to our semi. We are in the fortunate position that we own our house outright but after getting quotes for the building work - it is much higher than we expected - our savings won’t cover it as expected. DH wants to take out a mortgage and press ahead as it would replace an old lean-to conservatory which is open to the house and is either freezing or scorching.
I’m not sure as we are late 40s. I work poorly paid and part time. Kids are still not in full time school. DH is well paid but his job is precarious. As we don’t have a mortgage at the moment we able to save quite quickly and could probably go ahead next year. However we have little pension at the moment and all our extra cash is supposed to be going to that. Am I being too cautious?