Hi!
very new to the world of extensions so please bear with me.
we have a period house and on the back there’s a minting, cold, damp single storey extension. You need to walk through this dark little hovel every time you want to get into the back garden. It’s only half the wide of the back of the house.
We would like to knock on down and build a much nicer single storey extension , almost the full width of the back of the house… with French or bifold doors. This would also turn our kitchen into a kitchen Diner. The kitchen itself is find and would basically stay as is - don’t need a new one.
my husbands income has gone up since we bought the house and I have returned to work…. We can borrow quite a bit more than we are already. Our mortgage is around 150k atm , 5 years fixed at a good rate (3 years left to go). I think we can actually borrow up to £320k.
if it wasn’t for the crazy prices of extensions/ building materials we would be looking to remortgage for a larger amount and redo the rear extension, to get the benefit of it now (we have young children and the space and easier garden access would be so lovely).
now I’m thinking it’s madness to do it now… pay inflated building prices and lose our good interest rate. And we should wait it out…. But then things might not improve for ages and we are still stuck with what we’ve got.
we could spend a small amount insulating, skimming and putting some nicer flooring down in the current rear extension (and maybe look for a second hand composite door to replace the thin draughty timber one that’s currently on there). Maybe that would make it more bearable for the next couple of years. But then again it’s money down the toilet if the economy improves sooner than expected and we knock the whole lot down.
in case it’s relevant, we live in southern rural Scotland and the new extension would be around 9-10 square meters.
what would you all do?
thank you!