Hi
We’ve been in our house 2.5years, renovating throughout (though nothing structural as yet), doing it all as we go with income savings/short term 0% cc debt etc. Quite proud to say we have no debt outstanding on it except for the mortgage.
We need to do something about the old polycarbonate conservatory roof. It’s leaking, the room gets mouldy, there’s bad condensation despite my best efforts. I love the conservatory about 8 months of the year for reading, yoga, birdwatching etc. But it needs reroofing, decorating, flooring.
We have had a quote for £10.5k to put on a new tiled roof , seems extortionate and prices have clearly risen a lot as we had several quotes 2y ago about 20% less than this.
The rest of the 3x3m structure is about 12 years old and in good condition.
Wondering whether to replace it all (so roof and conservatory are same age and last longer) or just the roof or knock it down and replace with an extension. We could potentially wrap around side of the house although would only gain about 2mx3m additional by doing this. However could really do with a bigger kitchen as we have the standard tiny 30s semi kitchen. It’s dilapidated and due for replacement asap as well.
I’m just torn because I really can’t face taking on debt of any magnitude - my understanding is that extensions start at £2k per metre and often go over budget. We’d be adding to the mortgage in that case, extra £400 a month, extra £15k in interest over the 17 year term (staggering when you look at those numbers).
The alternative with the reroof option we were quoted today was 50% upfront (I could use 0% CC) and the rest interest free over 5 years with no penalty for paying off early.
I’d rather take on a loan than remortgage because of additional interest.
I’m aware that many consider a conservatory to be a poor man’s extension, although I do like aspects of ours.
Any words of wisdom?!