You might be just like me who started up with almost a raw house yet good enough to live in (especially if you bought in in sururban areas near the Metropolis) and had enough lot for house expansion once you have a new family soon or even having a separate, quiet space for your work-at-home set-up, when is the right time to do it?
Of course, it will not happen in a span of 24 hours as you will need months or even years to prepare for this big jump in your life then you have to consider this.
1. Your income for the next few years to come
If you have a stable job either outside or at work-at-home then it will be easier for you to project on how small or big will be in your upgrading. If you only have passive income either in those said work set-ups then better to have some bulk savings first before going in this big project
2. Your current house structure
It depends on your current house. Is it currently a one-floor hub and you want to convert it into a 2 or 3-storey house? Do you have a small second floor that you will have to expand it?
3. Maybe transferring to a nearer yet big house is an option
This might not be a popular opinion but who knows that you might spot a bigger house inside or near your area with a better price compared to what will be the total expenses if you will expand your entire current property. If you are not sure about the possible pricing, then an online calculator for these situations can help you.
4. Mortgage
If you got a pretty good property and still want to expand it then why don't you go on a mortgage deal? If you have a stable job yet you have in a short time frame (example, you will be having your first or new baby soon) then you might have to check out or figure out on what to loan. A website can help you out at mortgagecalculator.uk
With this advice, I hope that you will have these options ready in your next big step on your house upgrade
