I currently own a small 2 bed purpose built 1930s flat in zone 3 london. 1 double and 1 largish single and 1 reception. I am married and am ttc but not sure about my fertility, have never used contraception but am not pregnant after more than 8 years of marriage. Only started officially trying in the last year so who knows! main reason why i am moving is to accommodate one child, probably wouldn't have more assuming I can coneive.
I want to move to a bigger flat preferably with two double bedrooms. I stumbled upon this flat in my price range which has a very small second bedroom (but in my area). However, it has approved planning permission to add a bathroom and two double rooms. I have never taken on any big building projects and DH isn't overly keen (he would rather a spacious flat with two big double bedrooms in his preferred london location- he has lived in london all his life). I feel like it would be really hard to find a flat with 4 bedrooms even if two of them are in the loft, particularly at a price point I can afford in the area i want.
I asked a local builder how much the cost of this entire loft conversion would be as per diagram and he said £55k plus vat! Seems a bit too cheap judging from the quote! However, that aside, is it wise to pay stamp duty to move into a flat that is in some ways smaller than mine but with ability to extend? I know I wouldn't be happy with it if for some reason I couldn't extend.
I would be able to borrow to fund the loft conversion as I have 40% equity in my current flat. But it still feels risky for some reason.