Extension Funding..

Janeyxox
Janeyxox Posts: 37 Forumite
in In my home (includes DIY) MoneySaving
Hi All,

Me and Hubby have just brought a house which we would like to extend up and knock through the kitchen (which is an outside wall) which is obviously going to set us back a few quid! Im looking for what the best way to fund this would be..... would I be best to take out a secured loan over say 5 years or wait a few years to try and take some equity out the house? We have estimated the works to be around £20,000.

We are first time buyers so literally don't have a clue. Any help would be greatly appreciated.

Many Thanks

xx

Comments

  • tonyh66
    tonyh66 Posts: 1,736 Forumite
    First Anniversary Name Dropper First Post
    your estimate is way to small for that amount of work, what is it based on?
  • Janeyxox
    Janeyxox Posts: 37 Forumite
    building over a one story extension 11’2 x 8’2 which I believe all the footings are already there for... Any ideas what its likely to cost then?

    Thanks
  • Babbawah
    Babbawah Posts: 685 Forumite
    Janeyxox wrote: »
    building over a one story extension 11’2 x 8’2 which I believe all the footings are already there for... Any ideas what its likely to cost then?

    Thanks

    £11.389.29p

    That's the POWAH of the internets for you . . . !
  • Janeyxox
    Janeyxox Posts: 37 Forumite
    Oh cool thanks! How accurate is it likely to be? lol x
  • Janeyxox
    Janeyxox Posts: 37 Forumite
    Sorry just re-read my original post! So the ground floor part of the extension is already there we just want the first floor bit added on plus a wall knocked through to make a bigger kitchen/diner downstairs which just so happens to be an outside wall so I guess will need some sort of structural support put in place....
  • Babbawah
    Babbawah Posts: 685 Forumite
    Janeyxox wrote: »
    Oh cool thanks! How accurate is it likely to be? lol x

    'Bout as accurate as your measurements :-)
  • Janeyxox
    Janeyxox Posts: 37 Forumite
    Babbawah wrote: »
    'Bout as accurate as your measurements :-)

    :p:p:p

    Im a woman so anyones guess!! lol x
  • tonyh66
    tonyh66 Posts: 1,736 Forumite
    First Anniversary Name Dropper First Post
    edited 3 July 2015 at 8:36PM
    the footings for the ground floor may not be big enough to support first floor, so may need redoing. you could also spend £20k on just the roof, depending on where you are in the country, the labour could be close to £10K.
    New windows? new kitchen? relocate or add radiators? where will you live when you have no kitchen for weeks?
    I can guarantee it will cost more than £20K.
  • 1trainer1
    1trainer1 Posts: 1,010 Forumite
    Name Dropper First Post First Anniversary
    At a conservative estimate we did something similar and it came in about £32,000 parts and labour.

    But we live in the north west England which is supposed to be one of the cheaper areas in the country
    Blessed on 18th February 2014 at 0814 with little Sarah xxx
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