Move, or improve?

kcmatt79

We have been considering moving for about 2 years now. Stupidly waited and now regretting it.

The thing is, we could cope with staying here if we got a few things done. We need a new kitchen and bathroom, and would even consider extending. Our bathroom needs completely rebuilding, as it's an add-on (old Victorian terrace). We have a lovely garden, and I would miss it if we moved.

Would the cost of this be better spent than moving? I'm aware that selling/buying fees can cost anywhere up to £10k, so it makes sense to me to spend that money on the house. Would a remortgage be a good idea to fund it? Our mortgage now is only £50k, so we could manage an increase as we would have had to have done for a bigger house.

Any advice greatly appreciated.

elona

I would stay and just improve the house.

You love the garden and would miss it.

We are trying to sell and have been on the market for a year.

It is horrible and stressful buying and selling houses and if the market stays bad then you could find it cheaper and easier to do the work you want.

We have a viewer this aftenoon and have been slaving all morning to spruce up the house.

My head hurts and I have not even had a cup of tea yet!

Any kind people out there please cross your fngers for me.

Eon4

Good luck Elona with your viewing... we have only had 2 in ten weeks and with two young children, a dog and both of us working full time it is a nightmare getting the house ready but you have to give it your best shot if you want to sell don't you?

kcmatt79.....trying to sell now would be a nightmare!! If you love the house I would improve it and stay a while....we hate ours and can't bring ourselves to spend a penny on it!!

kcmatt79

Thanks for comments. Good luck with your viewing!! My sister in law's house has been on since Jan, they've had 2 viewings. Nightmare.

The problem is, this house is too small for us. What would help is if my o/h could have a place to work from as he works from home, but the garden isn't big enough. I couldn't see how we can add on another bedroom though.

Incisor

kcmatt79 wrote: »

We have been considering moving for about 2 years now. Stupidly waited and now regretting it.

Only stupid if you were planning to rent for a while. Whether there is a housing boom on or not, your house will retain the same relative value to the houses you would want to buy - possibly the cash difference will be slightly less if the housing situation has penetrated further up the market.

Just sell yours and keep your eyes open for what you want. You may have to go low to attract a buyer, but be laid back about it if that happens and just offer low on your new purchase. If you have a buyer, you will be in a good position

kcmatt79

Yes, our plan was to rent! Just didn't happen, had manic year! I wish we had done it though! Never mind. Why do you think selling would be better?

Doozergirl

If you like your house then I would stay.

It's lovely to have everything the way you would like it. You can move to a spanking new house and not everything would be exact.

If you have the space to extend then I would do so.

Incisor

kcmatt79 wrote: »

Yes, our plan was to rent! Just didn't happen, had manic year! I wish we had done it though! Never mind. Why do you think selling would be better?

It's not necessarily better. You may be a bit late to sell to rent, but if you can take the inconvenience, there might be some mileage in going via rented for a while - if you can rent AST and then go on a rolling monthly basis. It may put you in a better position when it comes to buying to hold one end of the chain.

Just remember that a house is a place to live, over and above being an investment vehicle. Form that perspective, selling with 1 move may work better for you than renting for a while with 2 moves.

kcmatt79

What would people estimate for new kitchen and new bathroom to be built? It's only a small add-on to our house and the roof needs redoing. I guess it could be extended further out. Not sure how much this would cost.