House extension dilemma - Advise please!

akorn77

Buying a 1930's 3 bed terraced probate property - current owners lived there for 50-60 years. The style and decor is very old but the house itself is clean and well looked after, with no major issues. The house requires full refurbishment, for which a few builders have estimated that it will cost circa £150,000 to do a modest rear extension (20m2) + full refurbishment of the house (literally everything). Unfortunately due to sky high inflation at the moment, it seems like its a terrible time to be doing building work. Sods law.

Due to my refurb budget, in my mind I've opted not to do a rear extension as I'm 50k short on the required cash. However I've been advised that if I do a full refurbishment now and do the extension at a later date, it will be harder because I'd effectively need to tear down/demolish parts of the house, which would be inefficient, cause me money loss and disrupt me as the house will turn into a building site again. 

I'm now incredibly confused as to what to do. It would take me a couple years to save the money and I dont NEED the extension (will be living there alone) but at the same time, it will future proof my home incase I have a family, boost the value (over the long term) and be way more efficient.

For anyone whos experienced a similar situation, do you have any advice for me?

Note - not interested in home refurbishment loans. I could 0% finance some things, but generally not a fan of buying things I cant afford outright cash (excluding mortgages of course!)

ka7e

Do you have a floorplan? Sometimes a constructive change to the layout can give you more useable space. Also prioritize what you want/need from any extension - just a bigger kitchen or do you want a utility/pantry/downstairs loo? Does the house need a re-wire or can you add extra points for today's tech. Are there designated cables for showers or double oven?

I reconfigured a 1930s semi for about £45k, 3 years ago - re-wire, 2 new bathrooms and new kitchen, but I shudder to think what it would cost now!

akorn77

ka7e said:

Do you have a floorplan? Sometimes a constructive change to the layout can give you more useable space. Also prioritize what you want/need from any extension - just a bigger kitchen or do you want a utility/pantry/downstairs loo? Does the house need a re-wire or can you add extra points for today's tech. Are there designated cables for showers or double oven?

I reconfigured a 1930s semi for about £45k, 3 years ago - re-wire, 2 new bathrooms and new kitchen, but I shudder to think what it would cost now!

Well the house itself needs everything done: re-wire, plumbing, kitchen, bathroom, plastering, insulation, windows, doors, floors, central heating etc. 

The extension will primarily be for a bigger kitchen as its currently very small (3.7mx2m). The house already has a small conservatory extension thats 10m2 which has a WC and utility area but it was built in the 1980's and will need tearing down if an extension is done.

Twixty3

Small kitchens like this and 3 bedrooms upstairs usually means there are two reception rooms downstairs. Could you knock through sideways to make a bigger kitchen or kitchen/diner ? 

akorn77

Twixty3 said:

Small kitchens like this and 3 bedrooms upstairs usually means there are two reception rooms downstairs. Could you knock through sideways to make a bigger kitchen or kitchen/diner ? 

Yeah it has two lounges, the wall in-between has been knocked through. 

Yep its been suggested that i could knock down the wall between the lounge and kitchen, but it would sort of a half-baked/"fake" extension if that makes sense! And I dont think i would want to lose the second lounge.

Twixty3

That is exactly like mine and I want to restore the wall and make a kitchen diner. There are already patio doors down that end.  My kitchen Is not much bigger than yours. 

I wouldn’t consider it half baked if done right.  Each to their own 

Can’t afford it currently! 

Slinky

Sadly I have to say I think that estimated figure is probably about right. We're in the middle of something similar at the moment and I can't see us getting much if any change out of that budget.

theoretica

You have mentioned the potential - and disadvantages - of postponing the extension.  But have you also investigated if it would be practicable to do the extension but postpone some of the expensive bits of refurbishment work?  It might not work out, but seems worth thinking through.

akorn77

theoretica said:

You have mentioned the potential - and disadvantages - of postponing the extension.  But have you also investigated if it would be practicable to do the extension but postpone some of the expensive bits of refurbishment work?  It might not work out, but seems worth thinking through.

Yep I have done that. Excluded refurb of the garage, garden, porch extension, exterior painting and some driveway re-paving which amounts to circa £30k 

I could pop a number of things on 0% finance (kitchen, bathroom, flooring, windows, doors etc.) but then I'd have £0 left and a mountain of debt to pay back within a short time period of 36-48 months. It will put all my eggs in the house basket so to speak, and leave me with nothing for everything else. Its such a huge financial decision, driving me loopy!

DRP

I am not sure what you mean by a full renovation , but In the absence of details, I would do:
the extension
the heating system
the electrics
then anything else that you can afford (windows, doors, flooring?)

then renovate and decorate a room at a time when you save the cash.

I wouldn’t rule out the other suggestion which is to remodel the house layout and make a kitchen diner without an extension. This will make the house feel much bigger and useable. A kitchen diner that size will also feel like an extra room, as it could be designed to have a small comfy /tv area

akorn77

DRP said:

I am not sure what you mean by a full renovation , but In the absence of details, I would do:
the extension
the heating system
the electrics
then anything else that you can afford (windows, doors, flooring?)

then renovate and decorate a room at a time when you save the cash.

I wouldn’t rule out the other suggestion which is to remodel the house layout and make a kitchen diner without an extension. This will make the house feel much bigger and useable. A kitchen diner that size will also feel like an extra room, as it could be designed to have a small comfy /tv area

To-do list: re-wire, plumbing, kitchen, bathroom, plastering, insulation, windows, doors, floors, central heating etc. 

By all means, I can leave out the windows and doors but the rest will need to be done for sure.