What would you do? We are stuck. We need more space and can afford a bit of a bigger mortgage. So do we rennovate or move? Financially it would work out about the same, maybe a bit less to renovate but you know how costs spiral. We would be staying in the same area.
Reasons to stay: lovely neighbours, ideal location. We could have it exactly as we want it, no compromises (within reason, financially - but it would be our design).
Reasons to go: one thing we can't change about the house is we are on the side of a hill so there are steps up to the front door and a tiered back garden on 3 levels. I love houses that have a flat entrance and garden. No drive here and if we wanted to put one in it would up the total amount by £5k +. But parking is fine.
The work we want to have done is quite extensive - loft conversion, side extension with downstairs loo, back extension for bigger kitchen/diner. We have a 6yo and an almost 2yo so the renovations could be a nightmare with a toddler.
We aren't sure whether we are better off moving, staying and renovating, or doing neither at the moment and wait out the financial uncertainty and cost of living increases then review in a couple of years. Option 3 is probably the most sensible but also least appealing but I do wonder if we are mad to be considering a bigger financial commitment at the moment.