Move or extend???

[Umberellaellaella]

Would you rather move or extend your current home? Were not sure if an extension would be worth it as in if we wanted to sell in 5 years or so not sure we would make much profit after the extension? Were in a 2 bed bungalow, hoping for 2 bedrooms and a small toilet room upstairs, velux windows as double dornas front and back will be a lot more expensive, this would mean staircase, supports, flooring, electrics, plaster and a new roof, french doors and possibly a conservatry with doors onto garden, would also want a new bathroom.
What would you do? Look for somewhere bigger or live through the extension and stay longer?

I would stay and not do extension-property market has tanked. I’d stay and wait to see what happens-for at least a year.

What do you need? Do you need 4 beds? Do you like the location?

Depends. How big is the plot you’re on? Would you still have a decent garden? Are there any other downsides like being very overlooked/dodgy area/dangerous roads/issues with location/limited local amenities?

Basically if you love your area, would still have a reasonable garden and didn’t have any other major drawbacks then I would extend.

If you’d still have some major drawbacks and there are other houses that you like and can afford, then I would move.

It's a big ish garden so yes would still be a decent size, to stay we would need 3 bedrooms but would also like a dining space so current bedroom 2 would likely become the dining room it's also next to the kitchen if we wanted to remove the wall or put an archway through etc.
Location is ok but just ok but same as anywhere really close by and don't want to move the kids school, but also probably unlikely to stay once kids un senior school so a 5 year timescale really.

If you're thinking of moving to get into a decent senior school then I'd look to move by the end of year five.

Totally depends on where you live surely. If you’re happy with where you live and will be for the foreseeable then extend. If you’re ever going to want to live somewhere else then move.

We’ve got PP for a big extension but I’ve now decided this isn’t the area for us. Oops!

Ask an estate agent, they will know if the extension will add value to your property. For instance, my D iL was advised not to extend out to the side of their house as it would not add value. The only real reason for extending a house should be if you need the room and will value the space. We extended our kitchen and lounge at the back and converted our loft and have never regretted it. But we have had 25 years to enjoy it.

An estate agent will very rarely advise to extend - why would they? If you stay they dont get any work or commission. Do it if it works for you and you're planning on staying for a few years afterwards.