Renovation or re-build

[Millylovespuddles]

I'm in a stalemate position with my husband! We bought a bungalow with the intention that we would downsize at some point.

Our current home is in a lovely street, and is 3000sq ft. DH loves it, whilst I see all the problems of upkeep, maintenance etc as we get in on years. It has 3 storeys. I mean, we are still pretty fit and active mid-50 somethings, so hopefully we'll be fine for a few years yet. But, the kids have left to work/study and we also have an apartment in Spain that we hope to use more and more as time allows.

However, whilst the bungalow is in a lovely position near a park and very handy for convenience as we get older, we have had major disagreements - he wants to re-build and I want him to consider a renovation/extension.

We currently have planning through for a new build, but by the time all was included and prepared, it is 26500 sq ft... I think as time went by, I have rethought what is necessary and feel this is too big, especially when building costs have risen so steeply lately.

So, my idea is to pretty much keep the original bungalow, and put on an extension to one side. This would still give us a new living/dining/kitchen area, with a master suite above. I would want it to look like a a new build so we are still talking of new roof, new windows etc - so I know it's not going to be cheap, but I think it has to have considerable savings over a new build of 26500 square ft, especially thinking of all the landscaping etc on top of the build. I have done a lot of research and have come across some very appealing looking renovations.

The photos show the kind of look I'm going for.

Would appreciate your views - am I mad even to be thinking of a renovation?

renovation sounds fine. it should be more 'planet friendly' as I assume there will be less knocking down old stuff and less use of new concrete etc.

I would renovate if the house was sound and insulated or able to be easily and effectively insulated (hugely important now). It is pretty cheap to do this and give it a major face lift internally and externally (I have done this) so that with an extension and new tiles it would like a new house. Also quicker, cheaper and a lot less stressful (as well as environmentally friendly).

Renovation is my way to go. DH keeps going on about saving the VAT on a new build, but I reckon it would balance out the removal of the original bungalow.
Regarding insulation, I dont know how how well it is insulated as we have never lived in the property, but I have also looked into external insulation methods, and whilst it isn't cheap, would be do-able.

You could save the VAT... but I think a renovation will come in under the price of rebuild even taking VAT into consideration. Might be worth looking at a mixture of internal and external insulation depending on wall/room. There's a few ways to do it and some are cheaper than others.

The standard option is when finishing works start from the first floor. First, they make a kitchen, a bathroom. ... And if the layout of your house provides for a flight of stairs in the living room, then it is not finished. I recommend it's better to install radiators right away so that you don't have to suffer with them later. If you are interested, slimline radiators are available here. And after that, when you finally start finishing the second floor and the third floor, you will have to carry everything through a brand new renovation.