Hello,
I would love some advice from experienced renovators!
DH and I both have busy jobs and no DIY skills, experience or connections. We’re currently TTC.
We’ve just sold our first flat and are looking for a house which we can make a long-term family home. We’re struggling to find something we like in budget and in the location we want. We weren’t looking for a renovation but came across this house which we love in our ideal location: https://www.rightmove.co.uk/properties/148399262
We love houses with character and the idea of being able to put our own stamp on a house and have it exactly how we want it! But is it worth it?
How much would it cost to renovate a house like this and how long would it take?
We’ve recently had a big jump in income so we can get a large mortgage but don’t have a lot of savings due to previously being on much lower incomes. This means we have a budget around £800k but we don’t have a lot of capital to fund a renovation immediately (we’ll around 70k left after deposit and stamp duty on this house). So, we’d probably have to prioritise renovating some rooms and live in part of the house while saving more before finishing it.
Houses like this in the area are around £1m if completely renovated so we could never afford a house like this without renovating. But is it worth it?
I would love tips and advice from anyone who has been through something similar!