Remster

I'm having a bit of a wobble with regard to our proposed house extension. I would appreciate any comments/experiences from SNetters who have been down this route or are actually in the building game.

We have a nice old property which is currently a 3 double bedroom based around an old cottage that has been extended to create bedroom 3 and large kitchen/conservatory. Our original idea was to have a loft conversion with en suite as we have a big open loft space. In doing this we would loose the smallest bedroom, currently a nursery, to facilitate space for the new staircase and give a large open landing/living area. We have had a couple of builders round who reckon £15-£20k for this work and see no problems other than moving the Combi boiler which is currently in the loft.
However, one of the builders has suggested something slightly more drastic.
His idea is to extend the whole of the 1st floor and loft area by approx. 8ft thereby creating a much larger loft conversion, regaining the lost bedroom and extending the size of the current bedroom 1 and bathroom. This extension would be achieved by removing the gable end wall and extending out to 3 pillars. He reckons all this could be done for £25-£30k.

Now the dilema is that if we did the big extension, we would be gaining a LOT more space for not much additional cost. However, there is only myself, the wife and our 9mth old at the moment and although we hope to have more children we do not immediately need the space. The other issue is the hidden costs of an extension. Obviously one has to decorate and furnish the new rooms as welll as heat and maintain them.

The property is currently valued at £240k and I have estimated that the simple loft conversion (still 3 bed) would probably increase value to £250k. If we went the whole hog and did the big extension, I imagine the value would jump to £275-£280k being a 4 bed with big rooms/bathroom.

Our mortgage is currently £100k and the extension would be funded by bumping this up by £30-£50k dependant on option choosen.

Any pearls of wisdom from those that have had extensions done and costs incurred? What would you do?

Help ease my anxieties this Friday morning.

DCI Gene Hunt

20K to convert 3 bed to 3 bed (albeit slightly bigger 3rd room) = House Value 250K (-10K profit)

30K to ADD a room 3 bed to 4 bed = House Value 275/280K (+10K profit)

No brainer........ go for the extra bedroom......

Hidden costs?!? if you don't need it dont decorate it............

OllyK

Worry about the accommodation you want / need and if you can afford it rather than the resulting value, unless you plan to move in the next couple of months, in which case why extend?

TopBanana

Can't argue with your maths DCI. A good way to make yourself £20k more wealthy... how long would it take to save that much?