House lost 50% value, outgrown house, can't move, any options?

PixelPound

Bankruptcy is an emotive subject, especially as many who go bankrupt have run out of options. I also think that the fallout effects of bankruptcy has changed, it has been getting more of an acceptable route out of debt, but less so as far as home ownership goes.

Extensions don't usually work out to add as much value as they cost - I have heard it said that its better to move into a house with an extension done than to buy a house and put an extension on afterwards. They can be cost effective in costing less than the difference in moving up to a bigger house.

If your current house isn't big enough, then is getting an extension affordable, and would it solve the house-size issues? Do you mind staying where you are if the size issue goes away? I wouldn't bother worrying about whether you get the money back in increase in house value because you have such a large decrease that its not really going to matter if spending £15K only increases the value by £5K.

m4rc

moneyistooshorttomention wrote: »

Bar a darn good explanation as to why it happened (ie 100% not the persons fault in any way) then yep.....there are people who wouldn't be interested unless it was provably not the persons fault/choice in any way.

Anyone with that attitude isn't a friend, merely someone passing through and it would be good to see the back of them.

I have been bankrupt, but in the days when you were bankrupt for 3 years and ere was a lot more stigma around and and it was a lot harder to do. I didn't lose a single friend, they were very supportive and helped me and my family through a very difficult time. If anyone hadnt accepted it at would have been their problem and a I would not have attempted to justify myself to them.

You do what you have to do, not sure it matters what other people think, going bankrupt isn't a crime, it's a little easier these days and over a lot quicker but it's still a big decision and people don't have to feel ashamed or worry that their friend might not want to play anymore.

grifferz

moneyistooshorttomention wrote: »

Bar a darn good explanation as to why it happened (ie 100% not the persons fault in any way) then yep.....there are people who wouldn't be interested unless it was provably not the persons fault/choice in any way.

Please can you change your forum nickname to moneyistooshorttomentionbecauseofmypoorlifechoicesiunderstandifyouwontbemyfriend unless you have a darn good explanation as to why you're in that predicament i.e. 100% not your fault in any way. Otherwise there may be people who wouldn't be interested in what you have to say.