Worth improving

barnaclebill

We have been in our final home for about 14 months, it was a 2 bed bungalow that had 2 bedrooms fitted in the loft with velux windows in the 1980's so now a 3 bed, the small bedroom was used for the staircase.
I have realised the bigger of the 2 bedrooms in the loft does not go to the end of the bungalow and through a small opening can see there is about another 8 to 10 feet behind the bedroom wall to the gable end.
This would make another room, it would need a window in the gable end however it would have to be accessed from the other bedroom direct with just a door as not wide enough for a corridor but it would then be a 4 bed, 3 up and 1 down.
There is a small toilet and hand basin bathroom upstairs which could be extended to a shower as well as the landing is quite big.
The thing is we do not need the room and we do not intend moving as we are both 70, do not have much spare cash to do the work so would have to borrow.
If I was younger and had bought it as project I think it could make money, I could almost hear what they would say on ' homes under the hammer' ,
It is on a corner plot and detached which is what we wanted but my wife is still not 100% happy with the area but in reality does not want to move again.
I suppose I am just disappointed to find a house that could be improved like this at this stage in my life.
I just wonder why they did not use all the room in the loft when they did the conversion.

Jamiesmum

Do you have any hobbies? I know of a man and wife who are in 80 and 62, he loved to build trains, she loved to play piano and the sax.
They extended the garage and joint it on to the house and the converted loft her for upstairs him for downstairs (amputee) and said it drastically improved there life style as their 'pet hates' for each other were separated (sound for him, mess for her). Even at that age!

Never too late. But only if you really want it. Not too be rude but if you're planning on staying there forever you won't get any appreciation out of the higher house value, so better to save your cash and spend it on something you'll enjoy. If you would benefit and enjoy the extra space upstairs then do it.

My nan and grandad have his and her bathrooms for the past 20 years. I'm considering this at the moment as we've only a downstairs shared toilet/bathroom.

Davesnave

barnaclebill wrote: »

This would make another room, it would need a window in the gable end however it would have to be accessed from the other bedroom direct with just a door as not wide enough for a corridor but it would then be a 4 bed, 3 up and 1 down.

It would still be classed by most people as a 3 bed with a dressing room, and it certainly wouldn't command the price of a 4 bedder.

It might also be considered 'top-heavy,' depending upon the downstairs measurements and layout. Well-designed homes have balanced floor areas.

HUTH is a dated and misleading programme. I'm not saying there isn't money to be made by true professionals, but the fact that you mention it suggests you're inexperienced. Outside the real hot spots, it's easy to come a cropper on home improvement for profit. Factors, like the ceiling price for the area must have due consideration. One person's idea of good taste and style can also put the majority of buyers off.

Having to borrow at your age means the risk from getting it wrong is even greater.

jk0

I admire your ambition. However, I think we all know when the time has come to say 'enough is enough'. I've reached it at 51, so maybe you should also.

Davesnave

jk0 wrote: »

I admire your ambition. However, I think we all know when the time has come to say 'enough is enough'. I've reached it at 51, so maybe you should also.

Oh dear! :eek:

I bought my full 'rip it to bits' 5 acres + renovation at the tender age of 61.....

But we're doing it for us and there is no profit motive. Suggest the OP does similarly.

J_B

Jamiesmum wrote: »

....... but if you're planning on staying there forever you won't get any appreciation out of the higher house value, so better to save your cash and spend it on something you'll enjoy.

This ......

pmartin86

barnaclebill wrote: »

The thing is we do not need the room and we do not intend moving as we are both 70, do not have much spare cash to do the work so would have to borrow.

You've answered your own question really... I don't need a gold encrusted toilet...so I won't be buying one...Why spend time, money and disruption on an "Improvement" you neither want, need nor can make a profit on?

vansboy

Think about moving, if you REALLY aren't happy there. That would be enough hassle/stress/fun/expense/worthwhile than doing the 'improvements' to where you are now

Or spend the cash it would cost on what you WOULD enjoy, car, holiday, going out...anything really, which would be something you BOTH enjoy!

VB

Davesnave

vansboy wrote: »

Think about moving, if you REALLY aren't happy there. That would be enough hassle/stress/fun/expense/worthwhile than doing the 'improvements' to where you are now

Or spend the cash it would cost on what you WOULD enjoy, car, holiday, going out...anything really, which would be something you BOTH enjoy!

VB

I almost agree with this, and if it really is the area which is the problem for Mrs Bill, then moving again could be considered, but 14 months in a place is not long for feeling settled. Looking back to when I last shifted area, it took longer than that for me to feel truly at home.

It could also be that the Bills have not made this place 'theirs' yet too, by doing more of the smaller things which remove evidence of the previous owners.

moneyistooshorttomention

Being in my 60s myself, there is two things I would say:

- Once one gets to this age then I tend to think it's an idea to start factoring in how long you will get the usage of something for. Hence - my initial thinking about something is "I'll probably get about 20 years worth of use from that - bearing in mind the average British woman lives to about 85". It's a sort of take on the "cost per wear" way of buying clothing (which goes - a £10 dress is expensive if only worn once, a £100 dress is cheap if worn dozens of times). At 70 you have an Estimated Usage Time for anything major you do on the house of about 15 years. Imo - that is worth it - if you planned on converting the rest of the loft for your own personal use (not as "an investment").

- However, I don't think it's a good idea to take on a sizeable loan at any age if it's for a luxury and most definitely not at retirement age. In our agegroup there is always the risk of having to spend thousands of £s "subsidising the NHS" as I call it (ie covering the cost of some expensive medical treatment the NHS tells you you must either wait some time for or do without - and hence going privately) and a loan might have to be taken out for a necessity like that anyway.

I agree with Dave that I don't think it would be a good idea to do this as an "investment" and I think you'd see little (if any) return on your money if you do this. By the time you take into account moving costs etc - you would be more likely to make a noticeable loss.

Again, agreeing with Dave, it is sometimes necessary to take a while to "bed in" to a new house. Sometimes it's down to major stuff like having to do a lot of work on a house (when one hates that sort of thing - and just wants a place that is "ready to move into"). Sometimes it's the neighbours having a go to start with to see if they can get you to "knuckle under" and do as they want. It's even down to all the little "bits and pieces" of it takes a bit of time to live in a house to see how well things work or otherwise - and make all those little decisions like "Oh yes...that bit of space there would work better if I put in some shelves" for instance.

So - don't do it - unless you genuinely have money spare you are wondering what to do with AND you would be using the extra space yourself (eg as hobby room).

barnaclebill

thanks for all the replies, most are in line with what I think, already changed the downstairs bathroom to shower only as our preference and all new units and worktop in the kitchen.
The reason I asked was it was a surprise to find so much unused space behind the wall. I may just make a door and board it out to use as storage