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I'd echo what others have said RE: how much things cost. To the point that even though we'd always planned to do a loft conversion in the future so the kids can have separate rooms, I'm now leaning towards looking for a bigger place/extra room, as the price difference in houses is probably half that of doing the work.
Also if you're relaying on sub-contracting out trades, be prepared for everything taking a lot more time than hoped for / do lots of chasing to get folks through the door.
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I'm seeing this a lot. I know a few architects and builders who specialise in domestic extensions whose work is drying up and they are worried.
I had to work quite hard to get my loft conversion to make a "profit". However, even if it only pays its way, we wouldn't have been able to buy a bigger place, but can pay for the loft in various/staged ways; so can move up a step on the ladder incrementally.
So 5 months after accepting an offer, the sellers of the house decided to try and hold us hostage for another £50k. We told them to feck off and that's that. Back to evenings on Rightmove.
Found a project house. Will need new electrics and possibly new heating (although boiler looks relatively recent). Hopefully going back for a second viewing with a builder later this week. We think it's liveable as is, and we wouldn't extend, but would remodel internally at some point.
Is there anything that any one wishes they had done/know now having taken on a project themselves?