Extend or move?

[susannahmoodie]

We live in a v modern 5 bed detached new build in a lovely estate. It has good transport links but slightly too far out from being able to walk to local high street etc. for a while we have been looking into extending our kitchen downstairs so that we can have a large kitchen diner with bifold doors opening onto garden. That would mean we could turn current Dining room into playroom. The house is on 3 storeys which living room upstairs which has been ok so far but more and more I'd like more living space on ground floor hence extension.

We have had plans drawn up and 3 builders quotes which are between 20-25k. We bought our house at a stupid time (2007) for 400,000k and it has probably gone down in value since then maybe by 20k but not sure as haven't had proper valuation.

We have a really good mortgage deal on a tracker at .5 below base rate so we have been paying v little for the last 7 years but obv that will probably change soon.

Now dh is saying kitchen extension is too expensive and unlikely to add equivalent value to the house. I want to go ahead as I think it would make house work better for us. The house had been sold off plan by the builders to someone who had already chosen the kitchen, then the sale fell through and we got it at a discount, so we've never really like the kitchen and wouldn't have chosen it ourselves. It's getting to the point 7 years in where we do need to repaint/redecorate and dh is complaining about the cost but I just think that's normal maintenance which we can never avoid unless we move into a new build every few years....

The other option is to move. I'm really not a new build type of person but I have to say with 2 young dcs and two ft jobs it has been good to have a warm and efficient home. I'd ideally like to be closer to town with shops etc, but most within our price range there would be semis and dh says it would be like a step backwards going from detached. Also they don't have large garages which we have here for a lot of Dh's stuff...

Basically, if you were in our position wwyd? Don't really feel like we know what we want at all...we have no reason to move except that this house has never felt 'perfect'....we don't 'love' it although it has served us well......

Anyone

Could you spend some time looking at other houses? Then you'll know whether you are happier to stay where you are.

At one stage DH and I moved house 3 times in 6 years.

We have just done a very large (and disruptive) extension.

In my experience, extending is far less stressful and a little bit cheaper than moving. Plus, you end up with the house that YOU want, rather than someone else's choices.

I think it would come down to location for me. We chose our house specifically so children (when they're a bit older) can walk to school, access local transport, get to high street etc all quite independently. When you say its too far out for that, will you end up being a taxi service in the future? Do you have to go everywhere in the car (even for a short journey)? I doubt you'd get the cost of the extension back on the price of your house, simply because its a new build that is 7 years old, so people won't be prepared to pay a "new build" premium now, and you probably bought at the wrong time.

But having said that, presumably if you're going to a similarly priced house, you will spend a big chunk of £25k on moving expenses - estate agents' commission on your sale, legal fees / moving costs and stamp duty on a new house.

So its probably a question of whether you see yourselves in your current house for the long (and therefore probably worth investing in the extension even if you won't get it back because it will improve how you live your lives) or whether you should move now.

I think I'd move but that's just my personal view. Good luck

i'm sure moving will be more expensive and it sounds like your house is lovely (read me jealous at idea of 5 beds) already.

So, either make fab kitchen diner if you are happy with your location or move, but it will be expensive!!!!

Would movin nearer the high street mean you could still afford such a large property? If no, extending might be better for you.

No, we don't have to drive everywhere, there is a bus stop across the road and a metro station about 7 mins walk away. I don't envisage being a taxi service which is good. There is a community centre and school within walking distance (find out in April if ds has got in though!) also corner shop, post office, one restaurant and a small retail park with boots, m&s, tk maxx about 10 mins walk away.

If we moved further in we'd get less space for our money. But I still don't feel like this is our 'forever home'....we'd maybe stay 5 years at least if we extended....