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Original poster

Is it better to move, convert or extend?

13 replies

hercules1 · 15/06/2007 08:00

We need an extra bedroom for dd. WHat is usually the better option and cheaper one? I am also worreid about the loft getting too hot.

OP posts:
Original poster
hercules1 · 15/06/2007 08:00

although we'd have the loft

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Bibis · 15/06/2007 08:09

We had our loft done a couple of years ago and with all the building regs for insulation it doesn't get too hot.

I think it depends on what is happening around you, are all the other lofts converted, how much it will cost, how much houses go for with extra bedrooms. Do you also have enough space downstairs to warrant extra space upstairs?

TheBlonde · 15/06/2007 08:10

You need to work out how much moving would cost you - cost of bigger place plus stamp duty and other costs

WideWebWitch · 15/06/2007 08:15

It usually costs AT LEAST £10k to move so factor that in. So I'd say convert/extend is the cheapest/least stressful probably.

throckenholt · 15/06/2007 08:21

if extra space is the only reason to move then it is definitely worth looking at the extension option.

The added value is only important if you plan to move in the next few years - otherwise you just need to consider what value it has to your life now - and any extra you make when you sell at some point is a bonus.

Is there definitely room to extend ? Have others done it locally ? Can you visit and see what they have done - work out what works and what doesn't.

Original poster
hercules1 · 15/06/2007 08:27

Our house is only 6 years old and we've recently bought it fully on a shared owner ship scheme. Surrounding houses arent fully owned so it's not been an option for the neighbours.

It is a large 2 bed house and we've been told by a neighbour whose brother is an architect that it would be possible to do a loft conversion although there are lots of beams in the loft.

We have a driveway next to the house where we could extend on teh first floor and still partk 2 cars underneath it although I know this would cost more than the loft and not sure how it would look.

I reckon we could get 2 rooms from the loft - 3rd room and study.

THe location of our house suits is well for the next few years and tbh when we looked at buying a comparable 3 bed house costs in our area were way over what it would cost us to do a conversion or even extend.

DH and I are both getting pay increases soon so even though we've only recently got our mortgage I'm assuming we'll be able to extend the amount as it will be only about 21/2 times our joint income.

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Original poster
hercules1 · 15/06/2007 08:28

Yes, the extra space would be more valuable to us then how much it goes up in value.

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Original poster
hercules1 · 15/06/2007 08:29

If we moved then we'd end up paying the higher stamp duty as we'd have to go over 250 to get 3 rooms.

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throckenholt · 15/06/2007 08:58

sounds like it is time to call in 3 architects and get them to make suggestions - and costings - and then decide what to do.

Caroline1852 · 15/06/2007 09:14

If you move, you will have to pay Stamp Duty Land Tax at the prevailing rate on your purchase, and you will have to pay Estate Agent's fees, legal fees and removal fees. Work out what sort of house you would likely buy and then work out the likely costs. If the cost of the loft conversion is less, then it makes more sense to go ahead with the conversion as it will also add value to your house, making it win win.
I would also be asking myself the following questions:
Will your current house be large enough for the foreseeable future (might you have another child for example?).
Not sure how old your DD is - but might you need to move for school catchment areas?

If a move in the near future is inevitable in any case, it might be worth taking the leap now. I would say worth getting planning permission for your loft conversion in any case even if you do not do the work this will add value.

Original poster
hercules1 · 15/06/2007 09:20

We arent having any more kids, already got two. We ill move eventually after dd's schools all sorted and that includes secondary so not for a good 10 years yet!

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glitterball · 16/06/2007 18:02

I would extend, but I would suggest putting a second bath/shower room in the loft as well if you have room, and if it is affordable on your budget.

My previous house was a 3 bed one of which was a loft conversion (done by previous owners) the loft space was quite small so there was only room for an average sized bedroom - when i came to sell several people did comment it would have been nice to have a bathroom up there to avoid having to go downstairs in the night for the loo!

singingmum · 16/06/2007 18:16

How much is a loft conversion if turned into a bedroom not just a playroom?

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