Moving home? Should we or not! Are we mad?

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Hello 😊 just looking for a bit of advice! We bought a mid terrace 1930’s style home 6 years ago..love it, we have lots of original features, renovated over the last 5 years knocking a wall down at the rear to create open plan living etc. The house is a very lovely.
We have 2 young girls..I would love a little extra space or an extra ‘living’ room.
There is a house at the end of our street (5 houses away!) it is similar style but is an end terrace on a corner plot. It has an extension to the back and a garage to the rear too. This house was owned by an older lady who died and her family I believe may be selling.
Am I mad for even considering it? We would need to renovate obviously but there would be more space and bigger garden, more potential at side of the house etc.
If we were to sell our house I think we would probably make about £50k-£60k on it. Obviously we would need a deposit on the other house but the remainder could be used to renovate?
Anyone with similar experience? Any advice?

Should I just settle with what we have got given we have done a lot of work to it? Help a girl out x

I’d move personally if the numbers stacked up.

Just check the extension potential - is it next to a road? You may not be allowed to extend?

I'd look at your numbers very carefully. The costs of selling (estate agents' commission, legal fees, any mortgage penalties etc) then the costs of buying (legals again, surveys, stamp duty etc) and then the cost of renovating / extending. When you add all that together, is that worth it? If it is, then yes, approach the family.

I moved to the house next door once. I was in a 2 bed terrace with garage in nearby block, and moved to a 3 bed end terrace with bigger garden and garage with driveway at the side.

I couldn't have cared what other people in the road thought of it all. it suited us.

Best move I ever made and for not much more money. The person buying mine actually wanted to be in the middle of 2 houses for the warmth of it so it was meant to be. Made a good profit on it when I moved on too.

If moving gives you what you wants just do it. You will have some money in the pot to do it up which is a bonus. And enjoy the extras it brings.

Sounds ideal, but you need to knock off your legal, stamp duty ( if you’re out of time ) and moving costs. Only you know those numbers.
When you say renovation does that mean just cosmetic or rewiring and plumbing?
I’d say go for it, if it gives you a better lifestyle and the numbers add up.

I'd move.

Thanks so much everyone. I have put a letter through the door to start the conversation! I haven’t seen inside the house so can’t comment on what it’s like. Obviously it would be dependent on that..however from the outside it has a bigger garden at the front and side because of it being a corner plot. It’s not next to a road. The roof is in good condition, the extension is to the back and the side and again is in good condition with a good roof. And there is a garage that is accessed by the rear lane..I was considering this could be utilised for something else..ie my office (started a new business). And just put a drive at the front to the side..oh decisions decisions!