Has anyone bought a house that is a true state and just lived with it? How hellish was it?
Our dream home has come on the market. It is wildly overpriced - as is everything locally - but the house will be insanely amazing when it is done. Currently it is two flats and it is a total state.
After payng for the house - including fees - we could waterproof the house (roof, windows, pointing, render). Then we'd have a slosh fund that would cover plastering the third floor bedrooms so we and our kids had a decent room to sleep in. Then, we could redo the bathroom cheaply and could put in a really cheap / second-hand kitchen.
But that is it really. The heating, electrics, other rooms would have to wait. It is would be - at best - a 'boho chic' style of living. Think sagging ceilings, horrible old wallpaper that is in poor condition etc.
Everything else would have to just be done slowly or not at all. We'd have to do lots of stuff ourselves - skirtings etc... We've done it before but it was a much smaller house.
Would we regret it? Or would we say - in five years when it is done - wow, look at our awesome and enormous house on an absolutely ideal road!
We're in 2 minds - we can tighten our belt and totally do it. We could even borrow more in a couple of years when it came to remortgage if we were struggling. But is it really worth it?
Our two kids aren't old but aren't so young that it would be dangerous. And when they are teens it will give us lots of space.
Thoughts?