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£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:
Oct18mummy · 25/08/2019 10:54

Have you considered stamp duty and solicitor fees - not sure your budget but 40/50k could be eaten up by that alone.

PickAChew · 25/08/2019 11:02

I would not be moving right now, unless I needed to.

wigglybluelines · 25/08/2019 11:52

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.

Mumsnet is hilariously conservative (with a small C) sometimes.

Don't move because smaller houses are dangerous? WTF? Barking!

I'll just go suggest to my friends with lovely large houses that they should swap theirs for my poky small house for their peaxe of mind, shall I?!

wigglybluelines · 25/08/2019 11:54

Oh oops!! That'll teach me for MNing and looking after DD at the same time, totally missed the bit about the busy road Blush

Snog · 25/08/2019 11:59

Could you add a garden studio?

treeplop · 25/08/2019 12:08

Small garden and busy road would discount the new house for me.

Floralnomad · 25/08/2019 12:08

My dsis has a house on a main road however it has a large frontage and a huge garden , we don’t find the noise aspect a problem you just get used to it . I wouldn’t move to a smaller garden if I had small children . I would also say that 40-50 k doesn’t actually get you much if you are using tradespeople .

lovelyupnorth · 26/08/2019 11:17

For me the cost of moving would be a big factor

Estate Agent, Legal, Stamp Duty etc. Could easily be 10k plus of your budget. That’s a kitchen.

I’d put it into your current house. And did last time we had a similar decision.

PooWillyBumBum · 26/08/2019 15:07

Based on your info I’d improve. Does the 40-50k improve stamp duty, lawyers etc (our move is costing us £22k!)? I’d never move from a quiet road to a main one, and to a smaller garden. Your house sounds like a decent size for a family of 4. I’d stay and improve it

blodynmawr · 26/08/2019 17:48

Improve. Every time. It's why Kirsty almost always wins over Phil in Love it or List Smile. Also, if your £40-50K investment will increase the value of your current property by at least that amount, you can always move later on, if you still want to, but maybe to a larger house with less drawbacks than those you've listed for the current 'main road' option?

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