Being very mercenary here - but help me work this out

[KatyMac]

If I open the nursery without a second floor - I will be able to have about 24 children

If I have a second floor I can have an extra 6 children

The second floor will cost about £25K all in

So on paper it is better to have the second floor because of the additional income

BUT I may never be more than 75% full - so that would be 18 children vs 22 children so it is less clear

Plus the advantages of the second floor are

1. not heating the full height ceiling
2. second floor potentially providing income

So what do I do?

Wouldn't it make sense to start on one floor and only develop the second if you find you have enough demand that you would fill the extra places?

That's what I would do.

But I can't close to add the second floor - that would let the parents down

Pus I have to fit kitchens & toilets in either upstairs or downstairs - it could cost a fortune to do it twice

Is there an option to fit out the 2nd floor and then rent it out? Perhaps not as it probably wouldn't make financial sense?

Well I 'might' be able to rent it either as a one off rental or like a village hall as sessions (I'd have a wooden floor so it could be used for dance sessions (it would be about 7msq)

Are you having to put in the whole floor?

Well if I just do the bit I need (loos etc) then I still have to pay to heat the full height ceiling

Sorry, but 25 k for 7 sqm? That's expensive! Hard to see it making financial sense...

no sorry 7 metres square (49 sqm)

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Yes - mid week parties would be good (as well as the apready planned w/e ones) - plus yoga? baby massage? probably not tumble tots because of getting the equipment upstairs

Maybe even adult ed

Dh would probably have it 1 or 2 nights a week for dancing classes

It just doesn't seem a straight forward decision

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What's happening now KM? I try to keep up but have missed your posts since you were about to view a new property, did you buy it?

No - I was talking about it to my vicar - who said 'well don't buy that one, have one of mine'

So we are in negotiation atm

It is a lovely Art Deco building - with about 15/18ft ceiling & a school room to the side

It has no water no drains........but it shouldn't be too expensive to convert

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Methodist chapel

It is really lovely & I want to convert it sympathetically tbh

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Leasing not buying - that way the building is 'returned to the community' but still owned by the church - which is better financially for me

I need to invest approx £75 to make it work

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I don't think so - I don't think it would be appropriate to ask

I'm not sure the difference between borrowing £50 or £75 is that great over 20 yrs

But it's very complicated (& to be honest I do agonise about these sort of decisions)

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That's it isn't it

When I was trying to convert the barn I was leasing & I was prepared to borrow £210

So this is really a no brainer isn't it plus the eco-ness of only heating half the space

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ahhh, that does sound great!! Things usually happen for a reason, so I guess this is what was meant to be (gosh - bit deep there lol)