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Original poster

£40-50K budget - move or improve?

35 replies

erniewise · 19/08/2019 19:34

We live in a 4 bed semi, in a reasonably quiet residential street, with a fairly big garden. 4th bedroom and kitchen are an extension put on by previous owners. It's an old house and needs a fair bit of work, though mostly cosmetic (new kitchen, bathroom, floors, external painting and landscaping). We are prepared to top up our mortgage by £40-50k which should amply cover all this work.

However for the same amount we could move to a bigger house in the same postcode area. A much bigger house. But it's on a busy main road and has a much smaller garden. DH is concerned about both of these things. I'm concerned that no matter how much money we put into cosmetic improvements, our current home will never be as big as this other one. I know people years ago brought up 13 kids in a 2 up/2 down and this is not a stealth boast. The reality is that these are the options we can afford and we are fortunate to have this dilemma.

But I would like to hear fellow MNers experiences or thoughts. Move or improve - WWYD?

OP posts:
Original poster
erniewise · 19/08/2019 19:41

For context we have 2 young children, work full time and don't have the time or skill to undertake much in the way of diy. Which is why the house that's already "done" appeals even though our current location is preferable. Thanks for any advice or thoughts!

OP posts:
lpchill · 19/08/2019 19:43

It's weighing up the pros and cons of each place.

For us personally it was location we wanted. We got a two up two down (with an extended kitchen) Mid 1970's terrace. We don't have a drive but ample parking nearby. We have a garage almost behind our house so can still wash the car and run electric out to garage. Its off the road and neighbours are lovely all owned with owners living in the properties. Beach 10 min walk tons of parks, wooded walks 10 mins in opposite way. Close to shops etc. We could of got a 3 bed semi in a really rough area.

We are making the 2 bed work. Decluttering, minimalism. Clever storage solutions and maybe looking to extend into the loft. Also maybe using small wardrobe in our master room to make tiny en suite.

Would the 50k your spending bring your current house up to a high standard? Higher than the place your looking to buy?

Original poster
erniewise · 19/08/2019 19:57

Thanks lpchill. 50k would make a big cosmetic difference to our house and it would beour choice/taste but it would still be a lot smaller than the other one. We could explore a loft conversion but I'm not sure the budget would cover it - and I'm not sure i can cope with the disruption! However I take your point re: decluttering, clever storage etc. That was the route we were considering before I saw this other house!

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LoveGrowsWhere · 19/08/2019 20:02

Is the other house detached? That would sway me. How much bigger? Just an extra bedroom or extra reception room too?

Original poster
erniewise · 19/08/2019 20:13

No, also semi detached. Attic conversion with ensuite bathroom plus 4 other bedrooms, 3 of them double. It's not so much the number of rooms but the dimensions of them. They're at least 3 to 5 ft wider/longer than even our biggest room, the attic bedroom is twice the size of ours. I think there's about an extra 400 or 500 square feet in the difference. So quite a lot!

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Cottipus · 19/08/2019 20:35

There’s no right or wrong answer. Do you need the extra space/will you need it in the near future? If yes then it may be worth looking to move up (maybe there is a “halfway house” that’s bigger but with less compromise on location).

The cost to move up is very cheap per sq ft! Does that include your stamp duty and conveyancing costs too? Is there a reason why the other house is so cheap comparably other than location?

If you don’t need the extra space and can use the renovation to improve your quality of living I’d be tempted to stay where you are. At least you know the extent of the work that needs doing.

JoJoSM2 · 19/08/2019 20:43

I wouldn't live on a busy main road. The pollution and noise would be horrible. If you open windows often, the rooms can get filthy quickly.

A 4 bed house sounds perfectly big enough for most families (unless you've got 6 kids or something?)

I'd spend the money on the house and make it really lovely to help you fall in love with it again.

Original poster
erniewise · 19/08/2019 20:52

I suppose those views are the same as my husband's...better the devil you know etc. And yes, a 4 bed house is big and I grew up in a much larger family in a considerably smaller house. I think we need to go and look at the other house again with a more critical eye as at the moment I'm dreaming about it!! Need to ground myself in reality again perhaps...

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Jkro · 19/08/2019 20:56

Depends on what value the renovation would come to. I'd suggest asking someone to do some designs for you and then asking an agent to value it. Worth balancing the books via a renovation imo. As we never know what joys Brexit will bring to the property market.

tootiredtospeak · 19/08/2019 20:59

Improve location and a big garden is more important than space in the long run especially when you sell eventually.

Original poster
erniewise · 19/08/2019 21:00

We don't need the space particularly but we'd like it and can afford it. And I cannot get more space (or certainly not much) at our house no matter how much we spend without huge costs and upheaval. I'm willing to trade a smaller house/big garden for a bigger house on a main road. But seems like I'm on my own!!

OP posts:
GreenTulips · 19/08/2019 21:01

You could always get a garden pod for a bit of relaxation and me time!!

Original poster
erniewise · 19/08/2019 21:04

We did think about converting our garage (which is separate from the house) into a recreation room but have been told it needs to be knocked and rebuilt as it's not suitable. So that would use all our budget and wouldn't solve any of my problems with the inside of the house! But a nice idea.

OP posts:
JoJoSM2 · 19/08/2019 21:20

OP, have you got any family or friends on a main road? Maybe you could spend a day at theirs to see what it's like? I find it only starts getting to me after a couple of hours.

Original poster
erniewise · 19/08/2019 21:31

Hmm, good thinking JoJo. I didn't notice any noise when we viewed the house but perhaps need to visit someone who lives on a main road.

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malloo · 20/08/2019 14:14

Location and garden is more important I think because your cant chang them. Our previous house was on a fairly busy road and I wouldn't do that again, i like to have windows open at night and it's too noisy, plus pollution. We're facing a similar dilemma, in 3 bed in great location, feeling squeezed (teenagers!) but can't afford 4 bed in such a good location. Wondering about extension but not obvious how to. If you're ok for cash can't you just get people in to do the work on your current house? DIY is so time consuming if you're busy.

Els1e · 20/08/2019 16:34

Does the new buy budget of £50k include all fees? Personally I would go for location over ready done.

AwkwardPaws27 · 20/08/2019 21:38

Does that budget take into account estate agent & solicitor fees, stamp duty, and moving costs?
Personally I'd prefer the smaller house with a nicer location & bigger garden but only you know what will work for your family.

missbattenburg · 21/08/2019 10:01

I wouldn't be trying to sell/buy in the current market. Too risky (for me) as prices are starting to fall.

sparkla · 23/08/2019 16:38

We have a four bed detached with decent garden in an average postcode. We looked to move to a "naicer" one but the cost would be +4-500k extra for the same size house! Instead we've opted for a £100k spend on a downstairs extension and landscaping. I'm so pleased we've gone this way.

PleaseNoFortnite · 25/08/2019 08:38

The last house we lived in was on a main road and no amount of extra space would entice me to live on one again. Apart from the extra pollution (our front door had to be wiped regularly to get rid of the black deposit) the noise was dreadful, and the kids had to cross it (no crossing) to get back from school every day.

MarshaBradyo · 25/08/2019 08:42

No I’d wait until you can get one off a main road and bigger garden

BookwormMe2 · 25/08/2019 08:53

I wouldn't move to be on a main road and have a smaller garden than what I currently had. Plus, as AwkwardPaws27 says, does your budget cover stamp duty, survey, solicitor fees, etc? I'd plough the money into improving your current house – when you do come to sell it will be more attractive to potential buyers.

changeitis · 25/08/2019 09:21

Two small children?
What about when they are 8 and want to ride their bikes? Or roller skates etc.

Current house you can sling them in the back garden or possibly on the drive and pavement.

Larger house you will be paranoid about their safety from the moment you move in.

And if you have pets they are at a huge risk as well.

Stay put!

SciFiScream · 25/08/2019 10:52

Bigger house = more to clean.
Bigger house = more to maintain and more costly
Bigger house = bigger bills (utilities and council tax)

Noise and pollution might change over 15-20 years if electric cars take off but the road will always be busy.

A bigger garden is an asset and can be used like an extra room when the weather is good.

If you improve will you increase the value of your home?