Moving onwards, the family home and making it MF. LP diary pt2

sarahevie

That's exactly my plan too LP - we are definitely going to outgrow this house in 5 years too and I don't want to take on another mortgage over £143,000 what we originally borrowed for this.

Houses round us are £250,000 for a three storey 4 bed new build, 1920s 3 bed but extended to provide 4 bed, 3 receptions (repo though so bargain) would love this house, 1970s 3 bed detached. Or 1880s stone town house 4 beds over three floors, but no garden, but opposite a large park (think this would do.)

So we need £100,000 equity I'm hoping within 5 years so my girls are 8/6ish. Currently got £40,000 at a conservative estimate. I'll watch with interest good luck:)

pammyj74

OOh all your plans sound interesting. Makes me jealous, would love to be able to get our forever home, but on my own there is not a chance.
Congrats to OH on the new job thats fab in this climate, shows it can be done!

LilacPixie

Merry Christmas Pammy. Hope it was a good one.

Sarah its a huge task isn't it, currently we a 3 bed semi, we have large room, older girls the middle room and Ava the small room. We are thinking that we should maybe switch with the older girls to give them more room for toys. We also think we may have to build space somewhere for the short term but no idea what option would be best considering no money/savings and alot to do in the next year. We are aiming to plan during 2012 and actually do during 2013.

I need a work area I think and someplace inside the house would be ideal. Trying to work out what is the most cost effective option for both actual costs then value added to house if any.

I worry house values will rise and the gap between wat we have and what we need will grow.

We have a few ideas kicking about to take the PT business forward which will increase income but really would need a dedicated work space and with family commitments renting a premisis is not an option.

LilacPixie

still juggling things in my head. On paper we are still against it without some major cuts in cost of living. I think i may need to post an SOA soon for advice