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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

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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Flamingolingo · 02/07/2020 07:07

I’m not convinced, I’m sorry. But then I’m mid renovation. Our house is pretty big, so will naturally cost more, but our spend is more like £100k, and we have probably had tradespeople here intensively for 6 months. We’ve actually had people in and out of the house for 9 months, but there have been quieter periods within that. So unless your DH is going to give up work, I’d expect it could take up to a year of evening/weekend work for one person.

Our log burner cost £4k, one bathroom just finished at £5.5k including labour, we have spent at least £10k on plumbing and heating (including all new radiators, water tank and plumbing). We had some structural work done which you won’t, but that was £20k, then another £20k on a new kitchen (not massively high spec, it’s a DIY kitchen, but by the time you have units, sink, appliances, worktops, flooring, and fitting it all adds up). We had all new electrics which probably cost us about £7k, and new carpets at £3k (in the sale). We have plastered some areas and had lining paper put into others, but almost all work done has been charged at time spent rather than a quote, so I know exactly what the work has cost. The standard hourly rate for most things here is around £25/hour, but some things like plumbing/heating are much much more.

But the thing I’m most worried about for you is that life with a small baby is hard and the time this is going to take is extreme. I’m not trying to be negative, but renovation is hard work emotionally. This is the second we have done and it’s relentless, the mess, the dust, the choosing of things, the expenditure. We are down to our last £20k with one bathroom still to do and a bunch of decorating left, which feels a little nerve wracking to be honest.

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