Is it worth it to extend?

Bozzy20

Hi, we are planning to extend our kitchen to make it into kitchen/diner and extend our utility room to include a downstairs toilet. There will be a few more bits of building work as well. The total costs would be nearly £30k.

I had the estate agents around this morning and told her of our plans. She said it would increase the value of our property by £5k!! Yes FIVE GRAND!!!

I'm now reconsidering it all as it is a huge amount of money to spend and not getting it back when we get round to selling the house is putting me off. We could use the space god knows that but......................

What do you think? I need some help to make up my mind!!

Thanks.

Boz

ormus

in certain areas that might be the case. i would usually go with the local agents viewpoint.
generally you get your money back with an extension, but only to a certain point.
if you can get your costs down to 15k, i reckon you may get it back.

peeps will only pay a certain max price for any given road or area.

latecomer

Looking at it from another point of view, what would it cost you buy sell your place (if you could), and buy another with the extra space. If its space you really need then maybe its worth it to you.

OddjobKIA

if your house is a home then do it if its an investment then dont bother...

richardw

Consider how much longer you intend to live there and if the alterations will add much to enjoyment of the property, you might like it so much you may stay even longer. Extensions are all about adding to the home in a good way, look at the total costs and all the likely benefits.
If you are adding sit down eating facilities to the kitchen, consider how much you would use them, if not much consider a smaller cheaper extension.