I am also hoping for 20 years
love the location and it has good transport links to employment hubs, DD in school for another 5 years or so and this is well placed for a variety of post-18 options, good local leisure and shopping facilities. We're developing a network of local friendships.
So, that has steered my decisions on what to include. It is going to work out at about £75,000, and I would guess (if the market was the same as when we bought, which it won't be!) about £50,000-60,000 of that would be recouped at sale, depending on who exactly is looking and what else is on the market.
The price we paid reflected the need for rewiring, new kitchen and bathroom, new boiler, and redecorating throughout. The extension would probably increase the price by at least as much as it cost to build, the central heating will add some value. Downstairs toilet? Not sure, but with a 3 bedroomed house and one bathroom it can only make it more attractive.
Some more cosmetic decisions, e.g. complete re-plastering rather than patching up, replacing skirting boards rather than patching existing ones, the quality of some of the fittings, reflect that this is our long term home and chosen because they will last in the long run and/or suit our taste so will add to our enjoyment. The big costs are labour, so slightly more expensive fittings are proportionately not that much.
In terms of downstairs layout, I would guess moving from one big living room and a separate small kitchen to one big living room (opening into kitchen extension) PLUS moderate size living room/home office would add value in the current climate. It means we will have a good sized family living room/dining area/kitchen extension opening onto a patio and garden at the back, and a home office with a couple of comfy chairs for peaceful cups of tea at the front. I could see that suiting a range of living arrangements.
It will suit our lifestyle better (probably a 60/40 split post COVID towards working from home) and probably a good number of people will be in the same position going forward. But who knows what the housing market will be like in 20+ years?
If I get a windfall at some point I would add a loft bedroom and en-suite...