Hi all,
There is me, dh and 2 young dc (toddlers). We bought our current house before dc and are quickly outgrowing it (2 bed). We want to stay in this town as this is where family, friends and nursery is and its in between our work places. Unfortunately it's quite an expensive place to live and you don't get much for your money. We are OK money wise at the moment with a small mortgage and can therefore afford days out, holidays etc which is something we are keen to maintain.
To get somewhere bigger here we would be stretching ourselves. We don't earn massive amounts and I work part time and wish to continue to do so, at least until the youngest is in secondary school.
We could afford a 'done' 3 bed. This would be smaller than our dream forever home but we have to be realistic, as much as I love to day dream otherwise. The 3 bed would be in a nice part of town.
However, a 'run down' 5 bed has come on the market. It's in a less desirable part of town but still OK all things considered. It would need fully gutting and modernisation. We would be up to our limit, so would not have much money immediately to renovate and would therefore have to do it room by room, while living there and it could take some time. The thing is it fills me with dread thinking about working, looking after two small children all while living in a building site, but I can see the potential of this house and feel we could make it a wow house and our forever home.
What would others do? Does anyone have experience? How was it? Worth it in the end?