Living in a flat, negative equity

[ticktock]

Hope this is right forum!

Just after some opinions and advice please! Me and OH live in a one bedroom flat and are ttc. Being very optimistic that we will get pregnant at some point, we wanna move our kitchen, into our big living room as a kinda open plan kitchen-living area so we'll have a spare room!

Our kitchen is v badly designed I only have 2 cupboards even tho its a fairly good size room. we're also hoping having an extra room will put our flat up in value so we can sell sooner as with this bloody recession we're in negative equity

Anyone done this? Any words of advice? Friends and family not aware we're ttc as don't want extra pressure lol

Thanks everyone!

 

[Cham]

The only thing you may need to consider is the cost of relocating your kitchen, as you will probably have to relocate your utilities (gas, water etc), so you may find it quite costly.

It may be worth speaking to some estate agents to find out what would give you the most money. Also, if you are ttc, you will have 9 months to get pregnant and it is recommended that your baby sleeps in your room for the first 6 months, so you've got at least a year - might be worth sitting tight and seeing if the market picks up.

Good luck.

 

[aly888]

Yep,as said you will need to re-route your gas and water and drains etc,and it could end up costing more than you expect.and probably cost you more than what ul get back for having the spare room!!
It depends how far into the negative you are.if its only a small bit then you are probs better off with how you are and selling when the market picks up a bit (hopefully in a year or so).if its a lot then there isnt much you can do!!
Sorry hun.good luck with ttc xx

 

[ticktock]

We live in the south so property round here costs loads! My husband is luckily a kitchen fitter/electrician so we won't be paying any labour costs as he's gonna do it all himself and get mates to do any bits that he can't do. If he couldn't do it, we definately wouldn't be able to afford it!

We're quite alot in negative equity as flats have been hit the worse. We got valued and prob down about 25 grand! Eeek!

Thanks for your replies x