£60k ? Am I crazy ?! Or AIBU?

[Toomanyshillings]

Please help give me some perspective as I’m driving myself crazy !

Maybe, subconsciously I don’t think I deserve nice things ? But a part of me thinks ‘this isn’t my forever home’ I may only be here for 5 years (mortgage term), but then maybe I’ll be here longer. ?

Our house needs a full renovation, kitchen is tiny and the rest of the house is very dated.

I am spending £60k on the work which includes:
small side extension
wall between kitchen and dining room knocked out to have kitchen/ diner. I will still have a separate lounge.
new (small) utility room and downstairs loo and shower
new bathroom
new kitchen with quartz / Neff appliances etc
loft board boarded up for storage

the AIBU is that I keep thinking am I spending too much ? I could just get a standard kitchen fit instead of going for what I really want ?

Will I be the money back when I sell ?

part of me wants to just spend as little as possible but I know I wont be happy with the finish

So confused 😐

Downstairs toilets are a bonus, opening the kitchen up can add value, as people do like this.
Have a look at houses for sale in your area, to see how much houses like yours, (current state, goes for) then see if you can find some, similar to what you plan to do. To see what the difference is.
It does sound what you plan is this things that add value.
We were in an old rented house, I did say if I was to buy the house. It would need a new kitchen, new bathroom. These do add value. As well new windows check the roof. (it definitely needed the last 2)

Wow you're a canny woman managing all that on £60k. I'm sure it will be beautiful and money well spent @Toomanyshillings

People always underestimate how much renovations will cost when they buy.

I needed a new kitchen, new bathroom, new en-suite, new downstairs loo and a new and extended kitchen. At the time I thought £75k would do it. The bathrooms cost £15k. The rest cost £120k.

I wouldn’t have paid this all in one go for the house - especially if it was not to my taste!

I do love my house now. I saw some beautiful renovations - and some truly awful ‘modern’ monstrosities.

@godmum56 could you change a few things to make it suit you a little better?

Nope.

How are you getting all that for £60k?? Where on earth do you live?

It's a lot of work for the money (I would expect the final cost to be a lot more) but if your house is worth £400k, then it's more worth the cost than if it's worth £150k.

We renovated and I did a lot of ‘no we’re not doing that it’s too expensive’…tbh it was our first home and I just wanted to move in.

Fast forward 5 years and there’s so much stuff I regret not doing, we are currently saving to extend and will redo everything. Although having lived here now so long we know exactly what we want. I think there always would have been an element of ‘I wish we did it this way’ if we renovated before moving in.

@godmum56 that’s such a shame. So sorry for your loss x

Never understand this “forever home” thing..

Go for it.
I thought I'd only be in my house a few years too. But priorities changed and over 25 years later I'm still there!

That's a bargain, our kitchen cost £15k without labour even!

That is cheap for the work you're having done. What are you adding to the house in square metres? You can calculate that added value from looking at other local properties, plus the extra toilet will add a bit. It depends where you live and how much you are adding whether you will make the money back, but it will still be worthwhile for 5 years of being comfortable in your home.

It’s an aspiration I suppose. I knew I didn’t want to spend a long time in my last house. The garden was too small and the neighbours too close. I resented spending money on it because I knew I wouldn’t be there for long.

Im my current house I can see myself here in retirement. I have done works which will suit me when I am older. I have planted things in the garden that I will enjoy for decades.

might not work out of course but the feeling of being settled is lovely.

It sounds like you’re doing a lot for the money. This is your home, so you can make it as nice as you want. It would be different if it was purely an investment property.
We’ve just started an extension and spending twice that. I have doubts every day as I’m sure we won’t make it all back when we sell. But we’ve decided to live for ‘now’ instead of worry about the future, and I want a lovely home that makes me proud.

Look at the ceiling price for your area and similar houses.

This will tell you whether it's worth investing.

Kitchens and bathrooms do sell properties but also having two sitting areas with teens is a big box ticked.

Kitchens honestly don't over spend. The British brand DIY kitchens do really good quality stuff and just hire and joiner to install. I'd use Fenex rather than stone countertops.