- 2 months ago
- Wedding: July 2011
I came on here a few months back to ask opinions on whether we should move house or not. Don’t know how to link to old posts but the situation was that we were planning a second child and were starting to feel quite cramped in our house. We own our house outright (inheritance) and so we were thinking of either renovating or taking a mortgage to move. Bees advised me to not take a mortgage if we didn’t need to and to wait until baby was in being before making a firm decision.
So – I am now expecting baby 2 (due Jan) so we had to make a firm decision, which we have 🙂 We are going to stay put and renovate!
We had our house valued and it came out as much higher than we thought it would be which meant we could afford another house without a mortgage using pretty much all our savings (£100k of that would had have to be spent on a tax called stamp duty when we brought a house)
Before doing anything else, we got an architect round and gave him the budget of £100k (if we would have to spend that money on tax we might as well see what reno it would buy us) and all our requirements and asked what he could do for us. OMG his plans were amanzing! Just what we needed to do to get the house we really wanted. We would have 4 double bedrooms 3 of which suitable for a 6’9 bed, a 5th room downstairs which could be a gym for now but a single room later if we needed one for a parent. A HUGE kitchen / diner, an adult living room, a play room and a utility room. It would mean sacrificing some garden, but we don’t really like gardening anyway. If we wanted to we could stretch the budget and have a bigger porch and maybe an extension to our bedroom to get a walk in wardrobe.
For completeness we spent a day looking at properties all over the London borough where we lived and we saw some nice places but no where that would be worth spending £100k in tax on or wiping out our savings for.
Now that decision is made we feel so exciting. We aim to submit plans for planning permission this year but won’t start any work until at least next summer when baby is a bit older. This is our second renovation on this house and I think it will mean that we never have to move (unless we want to leave London) We learnt so many lessons from last time so we are going to take our time, perhaps upgrade a few other bits in the house that we cheaped on last time.