WWYD

Message edited 6/5/2009 12:08:36 PM.

Re: WWYD re downsizing with potential....

If the smaller house has more potential than your current home and if it would eventually suit you down the road with renovations, then I would go for it.

Re: WWYD re downsizing with potential....

ooh that is a tough one.

honestly in terms of hassle and $$, i think you will win out if you expand in your current home. think of the $$ you would have to put in to update the new home, is that more or less than you would spend to expand your current home? plus would it take longer? interfere with your living space?

sorry i am not much help

Re: WWYD re downsizing with potential....

I am actually in a very similar predicament, except our current house has plenty of space for us, but I hate the location and the layout. Ahhh, I made so many mistakes as a dumb first time homebuyer.

I also would like to buy something of a fixer-upper now (but with great "bones" and location), enjoy low mortgage pymts and possibly be a SAHM while my kids are young.

However, it is VERY hard for me to imagine going from something that is perfectly renovated and almost fully decorated to starting over with a newborn at home... I am sympathetic about how hard it must be without a basement though. Mine is FULL of stuff right now.

The whole problem I have with downsizing is you would be losing out in this housing economy... If anything, we should be upgrading, and getting more house for less $$$ KWIM?

Re: WWYD

Message edited 6/5/2009 12:08:56 PM.

Re: WWYD re downsizing with potential....

Why do you just make your living room a play room? And give the new baby the bedroom?
When the kids are older you will get your formal living room back and you save lots of $

Or do you have a garage which you can convert into a playroom?

Message edited 6/3/2009 12:21:51 PM.

Re: WWYD re downsizing with potential....

Re: WWYD re downsizing with potential....

I am in the same predicament. Baby #2 coming and we only have 2 bedrooms on one floor and the 3rd on the main level. Having baby #2 sleep in our room is not really ideal either is having the DC share a room. We thought about expanding but for us the best option was to buy a new house. Our mortgage will def be more money and the new house will DEF not be as nice as ours now. We too will most likely go from a MINT home to a house that needs work but with potential providing we do all the work to it. It is hard but you have to do what is best for you and your family.

Re: WWYD re downsizing with potential....

This is a real toughy because I have lived and continue to live in the fix me upper state that my husband also did all the work for and I can't imagine doing it again. I don't know if I could deal with another fix me upper. I always say if I move again the house has to be done.

Re: WWYD re downsizing with potential....

We just sold our first home and closed on our new house while I was 8 mos. pregnant...Now I am 9 mos...And DH has spent a month doing major renovations, and the renovations continue.

All I can say is that it was REALLY hard showing the house/keeping it spotless/packing/moving while so pregnant. I don't ever want to do that again. I am sitting here, 9+months pregnant, and surrounded in boxes. I don't even know where my kitchen plates are! It's just soooo hard to do all that while pregnant.

Good luck with your decision!

Re: WWYD re downsizing with potential....

I think I would stay in the house you are in. Can you have the baby in your room for a while then have the 2 of them share a room? Then you can build on to your house when you are ready. It seems like way too much of a hassle to move just for the extra bedroom.

Re: WWYD re downsizing with potential....

the prices quoted to you are insane.
my girlfriend is in the process of dormering the upper part of her home and for 4 bedrooms, a full bath complete, and a 5ft tall attic she is paying 90k and the rooms are to prime. if you want the contractors info let me know.
free estimate and no fee for the architect either.

I would def stay in my home that I did over to my liking and add to it. especially with 2 small children.

Re: WWYD re downsizing with potential....

It sounds as though the house needing TLC isn't scaring you off - so I think I'd go for that one. We have a full finished basement and it's worth its weight in gold - I can't imagine not having it.

Re: WWYD re downsizing with potential....

I know the permits thing is a PITA but IMO I'd stay where you are and dormer (unless a larger house came up). With the dormer you'll be in good shape space wise, it seems, and you love your block and neighbors - I think that goes a long way. Moving while preggo with a toddler doesn't sound fun (and I'm sure I'll be able to certify that in late July / early August ).