Extension - now or wait?

[tatohead]

We want an extension, we can just about afford it now based on quotes we've had but it means spending all our savings and putting £15k on to our mortgage. We're tempted to hold fire a few years and build up our savings to cover it completely. BUT brexit and election mess - are we likely to see a huge increase in costs? We're assuming brexit might increase costs on building supplies (import charges etc) and labour. Is it better to go ahead now?

If you can afford it, do it now.

Do it now I reckon, if you can afford it comfortably.

It'll make it a much more pleasant space for you, and you can build it completely to your specifications, rather than working round what you currently have.

I don't understand why we wouldn't be able to build it to our specifications later? We wouldn't change anything in the two or so years, just live with what we have

I think namedy meant that if you do it in a few years and prices have gone up then you'd need to make compromises.

It completely depends on where you live.

If house prices are still on the up then it's not such a big gamble as if you're somewhere prices are stagnant are declining.

Ah ok, well we bought £150k under what we were allowed so we could do it but didn't really realise how expensive it'd be! It's going to be £65k to get what we really want (all open plan, space for kitchen island etc) but £45k to have just a box put on the back and wider door openings/arches and smaller kitchen so we're thinking we already need to compromise and do the latter and those prices are only the shell, no interior work at all.

If you are intending to be in this home for the long term, I would wait till you could extend with no compromise.