We are looking at whether it's worth renovating and updating our 150 yo victorian end terrace 2 bed into a 3 bed by adding a partition wall to our large bathroom (3.5m x 3.8m), as well as moving our tiny kitchen into the dining room (3.5m x 3.8m) to create a kitchen diner and then using current kitchen space as a utility room and extra wc.
However I'm beginning to suspect that it may become too cramped if we do this, rather than move house. What do others think?
Our other dilemma is that we currently have a small mortgage (40k) which we could release equity on the property to renovate. Otherwise to buy a 3 bed newer property in our area, we're looking at least a new mortgage of £140k.
I've attached our current floor plans as a guide.
Any advice from those more experienced would be appreciated, as this is our first time at such a large project.