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Renovate or new build in the garden?

Middleage Fanclub · 2023-03-05 21:40:59

So to completely renovate and extend my house would cost something close to 500k. The house sits in the center of a lovely mature 1 acre site. Alternatively, I could just build a completely new house in the garden, so now I have a brand new house but what am I to do with the original one. Splitting up the site would leave…

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05-03-2023 10:40pm

#1

Middleage Fanclub

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Join Date: July 2014

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So to completely renovate and extend my house would cost something close to 500k. The house sits in the center of a lovely mature 1 acre site. Alternatively, I could just build a completely new house in the garden, so now I have a brand new house but what am I to do with the original one. Splitting up the site would leave me on maybe 1/3 of an acre in my new house. I guess my point is that renovation costs are just nuts but I don't see what choice I have if I want to stay where I am on the plot I have. Any thoughts?

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#2 05-03-2023 10:49pm
Gumbo

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https://www.boards.ie/discussion/2058287007/renovate-or-new-build-in-the-garden

Build and sell original, making new site favourable to the new house.
Build and rent out original providing passive income in later life while maintaining its own loan now.

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