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Original poster

Loft conversion or house move

26 replies

Leobynature · 08/07/2020 19:04

I know this has been done before but hey I’m posting anyway.

We live in a small 3 bed semi, huge back garden, 2 double bedrooms and a box room which just only fits a toddler bed and chest of draws. I have a 2year old DD and 2nd baby on way although they won’t need their own bedroom for a while.
I had a quote for a loft conversion today; double room with hip to gable and dormer windows and en-suite. They will need to lower ceiling about 4 Inches but house has high ceilings anyway. DP feels the quote is very high at £30k. If we did the work we wouldn’t have to move. I like the area.
Is this a lot of money? Does anyone recommend a good company in the West Midlands?

I don’t have that kind of savings to fund it we would need to remortgage. I would rather do it sooner to enjoy the room.

Has anyone done this? Would you get the value back?

OP posts:

needsleepz · 09/07/2020 06:05

I am considering this (few years away) and had double that amount in mind - sounds cheap to me, and surely cheaper than moving to a bigger house?

Rebelwithallthecause · 09/07/2020 06:11

For £30k is I’d do the loft rather than move

ComeBy · 09/07/2020 06:15

Your Council Tax doesn’t increase in a house you extend, your band will stay the same. But if you buy a bigger house you will be paying higher CT.

BimbleWimble · 09/07/2020 06:18

Speak to estate agent to see how much value it would add to your house. What’s your downstairs like? Would it feel too small compared to upstairs? Will you end up wanting to extend downstairs too?

Don’t forget that the stamp duty threshold has changed at the moment if you are weighing up costs of moving.

burritofan · 09/07/2020 06:19

Sounds like a bargain. Does the quote include flooring, bathroom fixtures and fitting it?

I would stay and do the conversion, moving is always more expensive than you think and it's disruptive – unsettling to your DD to have a new house and a new baby to contend with.

sahbear · 09/07/2020 06:27

Have you considered an extension instead? For nearer 50k, we built a downstairs bedroom bathroom and utility room. We considered a loft extension but we would have had to raise the roof line. I like having the extra space downstairs, and still having a loft.

cherrypiepie · 09/07/2020 06:48

We have three storeys although the top floor even thought it has an en-suite is more a 'multipurpose room' for work hobbies storage etc it was built like this.

My only though is would you want to be on a different floor to your dc while they are are still young? What age would you be happy to be in a different floor from them? I had the 'down stairs' bedroom from a young age and didn't like it.

superram · 09/07/2020 06:54

£30k is very cheap (undoubtedly it will be more). I would stay if I was happy with the living space-at least 2 separate rooms.

onlywomennotmen · 09/07/2020 07:22

The cost of moving (even with a stamp duty holiday) is huge and it is very disruptive. You may well get the cost of the loft extension back when you finally sell if the value to per square foot is high where you are? The large garden sounds lovely for children. How are the schools near you? This might be a deciding factor for me.

HildegardeCrowe · 09/07/2020 07:26

Yes, do the loft conversion. You really like the house and area and moving is very expensive and disruptive. I live on a street of terraces with lots of loft conversions but I already had one when I bought the house.

ComeBy · 09/07/2020 07:28

I love our loft room. Our house sounds very similar to yours, some people have put two smaller bedrooms in the loft, for kids, ours is one big space, with a WC and shower room adjoining. If you do a conversion rather than move you get to choose everything exactly as you want it.

It will be massively disruptive though.

The quote sounds v reasonable to me, but I am in London.

TipseyTorvey · 09/07/2020 07:32

30k is cheap! Ours was 40k and then decoration on top of that. Ours is big though with a bathroom and space for a desk etc as it doubles up as the home office. I would definitely do it, it will surely add value to the house and you still might move in 5 or 10 years but if you're happy with the area that's worth a lot.

Itstartedinbarcelona · 09/07/2020 07:33

£30k is very cheap. We’ve just a bedroom and en-suite put in the loft and paid £39k. This included all work except the painting and carpets and we had to buy the bathroom suite. It was definitely worth it though. Much cheaper than moving, although with the stamp tax holiday it would be worth weighing up the costs and what you might get. We are Midlands based too. The company we used was really good.

Undervaluedandsad · 09/07/2020 07:33

Loft sounds much cheaper than moving. I’d stay and do the work and as you say, sooner, rather than later. That way you can enjoy the space and spread the payments over your mortgage period.

Itstartedinbarcelona · 09/07/2020 07:35

I found it much less disruptive than an extension as most of the work is done on the roof, on the outside of the house and they only come inside for the last 3 weeks or so.

AltheaVestr1t · 09/07/2020 07:36

30k sounds very reasonable for a hip to gable conversion with en suite. You have a few things to consider here...as others have said, what is the downstairs floor plan like? Do you have adequate dining space? A downstairs loo? What is the ceiling price of properties in your area? Will you add 30k of value to your house by converting the loft? Will a house with the bedroom space you need cost more than 30k over the value of your current property? If the answer to all of these is 'yes' then it sounds like a good idea. If it's no, then it might be time to move.

Rebelwithallthecause · 09/07/2020 07:55

Not that it will go up massively but yes your council tax band does get reviewed after you have extended and may get increased up a band

Svalberg · 09/07/2020 08:06

Your council tax band only gets reviewed when you sell, it doesn't increase for you, just for your buyer.

sunlight81 · 09/07/2020 08:07

I could have written this post myself.

We chose a loft conversion, no en-suite but a hip to gable dormer. £32k + vat

Lots of structural work inc steels to support the floor and a chimney removal.

We only moved in 3ys ago and the house still has work to realise it's full value. Our house is perfect for us at the moment and close to good schools. Also moving is HARD and takes a long time. I think we are due a massive recession as the gov try to pay back all the money they are giving away. Mortgage rates will rise therefore better to get a fixed loan now than a new mortgage (for more money as we would need to upgrade) at an unknown probably higher Interest rate.

lovelyupnorth · 09/07/2020 08:27

£30k for loft conversion is cheap. Ours cost £50k but did include new slate roof.

I’d be doing the loft conversion before moving.

Allhallowseve · 09/07/2020 08:30

I could have written this myself too!
We have already extended downstairs however to create a large kitchen diner . There is also an old extension to the side which prev owners did to create an extra bedroom - planning to use as playroom when sorted out- ours was a complete Reno project! I however have 3 dc so one will still get the box room if we go into the loft which I feel guilty about . However like you , we have large garden and walking distance to good primary / secondary. I would be happy with 30k tbh I wonder how that would change your mortgage payments ?

Redwinestillfine · 09/07/2020 08:34

If you have a big garden and like the area I'd definitely do it. That's a reasonable price and would add value to the house.

IdblowJonSnow · 09/07/2020 08:45

30k is cheap around these parts.
Are you solidly in the catchment for good schools? If so I'd go for it and stay put.
We have the same dilemma and have been dithering for years.
I might get a few more quotes though. Also has the company been recommended by someone you know who has had it done? Otherwise I'd hold out for another company.
Having the floor/ceiling lowered is a massive messy job. Do you have somewhere else to go for a few weeks?

THNG5 · 09/07/2020 09:14

We are having the same dilemma. I got quotes a couple of years ago and they were nearer the £50 000 so 30 is cheap! (We are near London though). Adding 2 beds and shower room will add equity to the house in our case but the downstairs will become too small as the children grow (currently have 3, soon 4). Up until now, we were sure about doing the work and potentially extending downstairs in the future but now the government have announced this stamp duty holiday, we need to do our sums again!

Ariela · 09/07/2020 09:40

It sounds a very reasonable price to extend into the loft, given the costs and hassle of moving, solicitors, surveys, removals etc etc when you like the area and the house anyway.

However as others say, particularly as the children get older, will the downstairs be big enough?

One thing to consider, is to also have your architect draw plans at the same time for a ground floor extension too, which would give you that expansion space. Then, get your builders to quote for also putting in the footings for your extension, and get that included in your mortgage extension.

So long as your build has started within the required timeframe for your planning permission, you do not need to complete it all. Friends of mine did this and just had a patio for their ground floor extension for nearly 10 years till they finished it, as they expanded their family and needed more time to save to do it.

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