Convert loft or not?

[IAmSheWhoMustBeObeyed]

two youngest children are sharing a small bedroom in bunk beds. They are 8 and 6, same sex. We can't afford a 4 bed house. We are stretched financially already although I now work part time and bring in around £400 pm extra which once the overdraft is paid off could be used to contribute to an extended mortgage.
£30,000 is such a lot of money though.
Opinions please.

Have you had quotes yet?

Could you do some of the work yourself?

We are converting ours for using as a hobby room.

We did a loft conversion last year and am very glad we did. One friend said to me "imagine how you will use the house in a few years' time" - teenagers will want to have their own space. My DC are thrilled that they don't have to share anymore.
I was worried about the cost of loft extensions, but two things convinced me
a. loft extensions are not going to get cheaper in future
b. if money does get really tight, we have the space now to rent out a room in our house (DC would have to go back to sharing, but it would only be for a certian amount of time)

Please bear in mind though, if you are financially stretched already - in my experience, any building work will cost more than initially expected/budgeted, so only embark on the work if you have some extra money. (for instance, our hallway had to be redecorated, the stair carpets do at the very least need to be professionally cleaned - if not replaced..., we needed an extra skip, parking permits for plumber/electrician/builder etc)
best of luck

Two quotes. One £30000 one £35000. we hope that we could negotiate to do some of the work ourselves or lower the finished spec to reduce the price. Just slithering as we do cope atm but can see that sharing for them will get harder and harder. Also DP not keen to stretch further financially so I must be certain on whatever we do.

Swithering.

Yes ours would involve redecorating (at the very least) the bathroom as the stairway would cut into it.

I'm not sure it sounds like a great idea to be honest. If you are just 'coping' at the moment, then it doesn't seem like the best time to be adding significantly to your outgoings. What position would you be in if the interest rates on your mortgate went up? If you're DP's also not keen and it ends up being the wrong decision then you might have put yourself in a position where you are blamed for any difficulties you find yourself in if you go ahead.

Why don't you shelve the idea for 6-12 months and see how your finances look then. In the meantime you could put away the extra money you think it will cost you every month and see how you cope with it.

How much that 30k is relevant to the cost of your house also matters. In cheaper areas loft conversions are rarely the cheapest way to add space

Could you add a conservatory instead to make a playroom / extra living room? So that all they have to do is sleep in the room?

Hi. I guess I am thinking ahead 3or 4 years to the time when my middle child will want to spend more time in her own bedroom, this is judging by what her older sibling does. There is studying and homework to consider as well as privacy.
Is it a choice between stress caused by overcrowding or financial stress?