Am I completely mad to consider this?

[Twentytwentytoo]

Last month me and my DH missed out on a house on my parents street that we were negotiating privately with the sellers on.

It's a big project, needs a rewire, new GCH, windows and full decoration. We'd also hope to extend over the garage so we'd have a bigger upstairs at some point. We had a surveyor friend come round and spotted subsidence on one corner due to big trees that would need to be cut down. Prob 5k to fix.

Anyway, we finally negotiated a price verbally. I was dropping letters through her door and calling her on the landline. Often it would take her a week to come back to me on something. I then came back to her a day later than agreed and I found it on RightMove for £25k more than she'd accepted.

Annnnyway, she's not sold it, the house is a state and clearly people have been put off with the cost of work at the moment. She's since knocked on my folks door and apologised for the miscommunication and asked for my details again (she's fairly old and dotty) and will take a lower offer but this time go via solicitors (rather than dealing directly).

Here's the thing. We have two kiddo's under 4 (one of whom is highly spirited and we're considering if she needs assessment for ND) but we can't afford this sort of space anywhere else in the area.

Every house we bid on, we're outbid and we're just not able to find anything else that's chain free like this in the area. Also, we want to get our eldest registered for school by xmas/Jan deadline. Also, I mentioned it's on my parents road and um, childcare?!

Am I completely batshit to even consider going back to her and taking on a project like this?

Thanks all, I keep flip flopping between keeping life simple and living in a done house in a less desirable area, or taking on a load of stress to be in the place we want to be.

I've done a couple of renovations.

The major plus is you get a house designed perfectly for you in a location you couldn't afford a done house in

The major con is it's is a ton of work and stress and money

But... it's close to your parents, you could live there while it's done, making it cheaper and quicker

Where will you live while the works done and do you have the money for it?

Assuming youve done the maths and can cope with the major upheaval of a project….no you aren’t mad.
moving into the same street as your parents and assuming childcare (even if they’ve offered it)……yes you are.
we relocated 150miles to be near my DM. There were several reasons, but one was definitely childcare. Anyway, within 6 months we’d got a nanny. DM still maintains “I’ll help you out whenever I can”, but it always seems such an inconvenience that it’s easier to find someone else and pay. Last summer she helpfully pointed out to me that ‘I’m busier than you are’. Yes mum, sure you are given you are retired, live in a mortgage free house, have a great pension and don’t even have a spouse to run after. (I work almost FT and have 2 primary school aged kids and a DH who works away 3 nights a week). Its totally ruined our relationship.

I'd go for it. You already know the issues with the property and haven't been put off. Yes living for a number of years whilst you do work/gradually afford to do more/do some aspects yourself can all be hard but actually quite rewarding.

Yeah absolutely. Though they have a small bungalow down the Road so wouldn’t all fit. But, we could drop the kids there whilst we paint/cry so that’s something!

@Perple we’d have to go somewhere for a few weeks for rewire and heating, my folks helpfully have offered their caravan in Wales if we could do it in season.
Yeah, we’d have the money. But it would be done in stages I think

@Trainfromredhill Sorry your rship with your folks is hard.
We used to live at the end of their road (yes, we’re following them 😅) and what we mean childcare is really ad-hoc and not days each week. That said, could imagine it would be more regular than that during the work.

@PragmaticWench I’m feeling validated, thank you 😆
It does feel a bit like a case of ‘better the devil you know’

How will your children cope with living in a building site, in caravan, back and forth with grandparents? Would any special needs be impacted?

Never done a project just watched tv and feel sorry for children when parents think renovating will take 6 months and a year later still not settled.

@Bagzzz this, I can’t answer.
I suppose a few weeks in a caravan to start with won’t be so damaging. But the building site bit, yeah, who knows.
Our eldest is fairly fearless, but she is sensitive.

I've done a renovation and it was fine. I'd do another. As long as you know what you're letting yourself in for you will be fine! You might even enjoy it xx

And it will be easy to go to your parents' place to cook and for showers.

As long as they are ok with that

I've renovated too and agree it can be hellish at the time but the long haul is worth it usually!

I'm living this now! No children, but living through an entire house renovation and small extension. New roof, windows, rewiring, plumbing, floors the lot. We are living in a static van in the garden. Would a caravan/static van onsite be an option? Would you really be able to move in my the end of year and register your child at that address in time for school? Is your partner (if applicable) really happy to be living on the same street as your parents?

Don't underestimate current delays on regular trades supplies and costs. We got the keys to our house 18mths ago. The cost of steels needed to be locked in, within 7days, due to the increasing cost of steel. We changed the design of a garden room from wood to a block construction due to costs. We were told last year that our windows had a lead time of 4 weeks. Ordered in Oct 2021 and the last window only went in last month- 8mths later!!!! It was a special shape, but even so- the timelines have been stretched FAR longer than I imagined.

This is despite having a known team of workmen in place already, that work well together. Very few gaps in things going on

Don't underestimate the amount of dust and debris a renovation will cause. Even in the van, we return from the house having brushed past walls and get covered in dust. Sealed bags are covered in dust and even when entire rooms were 'sealed' they weren't!

Have a back up plan for when things extend months longer than you expect. Have somewhere clean and nearby to stay. Living onsite has been invaluable to answer questions there and then. Be realistic about the upheaval and if that is what you and your family can cope with right now. Happy to answer any questions. Best of luck x

Just wanted to add on the school applications thing.

We were mid renovation on our house when applying for our son's primary place. We were living with my in laws at the time but applied using our actual address. No issues at all. Our house was still our perm address.