We've been approved a mortgage to buy a run down property with £25,000 extra for renovations. It's not big but has scope to extend one day but that'll be a long way off. As we have a young baby I don't want to live in it whilst all the work is going on so the idea is that baby and I will move in with in laws and hubby will stay in the house to do a lot of the work himself for a few weeks / months before Baby and I move in.
We want to:
Redo the electrics throughout the house.
Laminate all floors (3 bedrooms, 1 living room and 1 dining room)
Put in a completely new kitchen and bathroom (both are only about 6.5 square feet so they are tiny and don't need to be fancy because the idea is that's where we'll extend one day so just a basic kitchen and bathroom for now)
Replaster all the walls and paint.
Put a log burner in the chimney (chimney already fully functional)
We can't do the plastering or the electrics by ourselves but my husband could do the vast majority of the rest with a little help from family.
Does £25,000 sound a reasonable budget or are we being too ambitious
Husband says it's plenty but I don't know and he has a tendancy to be overly optimistic and I'm the one who manages our finances day to day so would feel better to have more opinions on it.
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AIBU?
To think we can renovate a 3 bed terrace house with £25k
76 replies
Woodlandwalks · 01/07/2020 07:00
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