Extend soon or in a year or two?

[NumericalBlock]

We're moving soon. New house needs updating throughout and some works done, nothing urgent really. We should get enough from our current property to extend. I want to do it ASAP. My husband thinks we should wait as family members who are in the business say that the prices will start coming down next year. It would be a big project and take months, double storey extension, rejigging the downstairs entirely and knocking through a wall upstairs, I want it done sooner as I really am fed up with living in a doer upper.

I can't see the prices dropping significantly as supply issues are still going to be there surely? And labour costs have risen and aren't likely to drop?

You really should live in it for 6-12 months. You can't know a house until you really live in it. Then you will know how you live in the house and really understand what needs doing and what the priority is.

We know the house well, it's a family property. DH grew up in it and we're buying it from our family member directly.

Even so it's worth living in it for a while.

Our first renovation was an inherited property. DH had lived next door in the mirror image house as a child.

We had to wait for probate before we could submit planning etc but that delay really helped up with our ideas.

We had planned one thing but living in it showed some slight changes in how we lived there as adults and what we wanted.

That's interesting to hear, thanks.

I don’t know, but let me know if you find out the answer! We’re also planning an extension. We’ve already delayed by over a year as the quotes were massively over budget. We’ve scaled the project back a lot and gone out for quotes again. If they come back too high again I’m wondering whether to just wait (again) or scale back even further and just get what we can done before prices go up even more.

We are def putting off all renovation work that we can't do ourselves for 2 years .