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is this a stupid idea?

(13 Posts)
BobPatSamandIgglePiggle Sun 23-Mar-14 21:26:55

Been dealing with the Monday dread this evening by dreaming of ways out of teaching. I'm due a 40 / 50k inheritance in the next 2 or 3 years (an unimaginable amount of money for us) and was wondering about becoming a childminder but...

Houses in our area are cheap - we're in the north east

I was thinking about buying a small house with a garden (70k ish) and putting down a big deposit

Running a childminding business from that house - with it and the garden done up to be child friendly

It would have a small mortgage and the house could be a retirement fund

Is this feasible / stupid and naive?

I've not invested anything in this idea at all - just thought of it today so won't be offended to be told I'm a naive idiot!

BobPatSamandIgglePiggle Sun 23-Mar-14 21:28:02

Unclear - the house would just be to childmind in, not to live in.

Littlefish Sun 23-Mar-14 21:32:45

If you don't live in it, would it be a nursery, rather than a childminding business?

I think you need to check the legalities of it before you go any further with your plan.

BobPatSamandIgglePiggle Sun 23-Mar-14 21:35:02

That's what I wondered - and running a nursery seems more daunting some how.

It's just a thought bubble at the moment - but one which may get me through tomorrow!

happydutchmummy Sun 23-Mar-14 21:41:30

Even though you'd only have a small mortgage you'd be covering the cost of running 2 houses (double your gas, electricity, council tax, insurance, leaky tap repairs,fence being blown down in Gale force winds, etc). So your first few kids would be paying for the house running costs plus mortgage.

Would you consider moving to somewhere slightly larger with a granny annex or something separate from your home but still part of the `house`

I'm not sure whether it's a good idea childminding wise, I sure someone with more experience can comment.

Pepperglitter Sun 23-Mar-14 21:44:50

I think it would be better to buy a bigger house to live in with a separate part ( an annexe? for childminding).

BobPatSamandIgglePiggle Sun 23-Mar-14 21:47:46

That's very true. Only problem is that our house is a (cheap, ex council) do up job that we're painstakingly improving and I love it... food for thought, thanks so much for the input.

MaryPoppinsBag Mon 24-Mar-14 19:15:44

I'd just put an extension on your existing property. I dream of a playroom that I can shut off at the end of the day. But DH won't give up his garage.

MaryPoppinsBag Mon 24-Mar-14 19:16:41

Also parents choose CM's because they want their children looked after in someone's home not a fake home.

longjane Mon 24-Mar-14 19:54:20

You of course have assistant or Co childminder living upstairs. They could then pay you rent which could cover some of your costs.

BobPatSamandIgglePiggle Mon 24-Mar-14 20:00:19

No room for an extension really Mary - although we need to extend the kitchen there wouldn't be room for a playroom or anything.

Like I said - just dream but I kind of saw the house set up as a home from home but without my family and our stuff being in the way

MaryPoppinsBag Tue 25-Mar-14 11:03:21

Bob I hear you!
I've just moved and left behind a massive conservatory. Miss it loads. But I love our new house more just hate not being able to separate work and daily life! Slowly going crazy with all the baby / toddler clutter when mine have a playroom upstairs.

BobPatSamandIgglePiggle Sun 30-Mar-14 16:32:47

Thanks mary - think that's why I'm wondering whether it'd be the best of both worlds - small mortgage, house could be sold to fund retirement, no family clutter in the way of mindees... I can dream!

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