Baby changes things

[1911naomi]

Found out I'm pregnant (and very very sick butnquestion is move or extend.

I have a 2 story house (cost $495k in 2010-11) which we lease out downstairs for $360 pwk plus electricity.

Downstairs is 3 bd 1 bth kitchen upstairs is same space but more open living with 1 large bedroom, large bathroom, open kitchen/lounge/dining/balcony/garage.

We don't want to move downstairs and too cramped for us and upstairs has nice views and we have lovely tenants.

I know some people would say you don't need to change anything for a baby and we could have it in our room or the lounge but its my first baby and I would love it's own room/ we can stay in it if family stay over etc.

Option is build another room upstairs ontop of the garage roof(would all be same level) would make main room and bathroom slightly smaller and cost $15k ish or move.rent out top part of this house as is and buy something else.
Only thing is we just bought our 5th investment property and don't have too much cash. Would look for maybe Duplex $250-$275.

Would love to love Into a nice 2 bed unit but we have 2 small dogs. Would also love more of a yard for dogs.

I guess my main concern is, is it a waste of money addy on extra room in terms of value??

 

[beachgurl]

We lived in a unit when I had my first baby. After a few months of going to the basement car park with baby and half a suitcase in tow I got sick of it and moved. the idea of living in suburbia sounded great just from a space issue but we needed to try it out first. We rented out our place and rented somewhere else. No issues with serviceability and your living expenses are likely to be lower while renting.

It will give you the opportunity to try out your new place and not feel overburdened if you already feel you have enough credit. While babies are a wonderful thing, they can also bring the worst out in you. If you are stressed about other things (eg money) then sleepless babies will exacerbate it.

So to answer your question, I'd hold off on the renos and find somewhere to rent. That said, I know of others who continue to live in a small space and it works well for them. Babies don't need a lot of space, just lots of love. It's us as parents that feel we need a bigger space straight away.

 

[DaveM]

I cant really give any suggestions regarding living... but congrats on the bub!

 

[jim1964]

Babies don't need a lot of space, just lots of love.

Kudos for this thought.

 

[DaveM]

Babies don't need a lot of space, just lots of love.

Someone should send this quote to Kim Jong-un

 

[devank]

In terms of housing, I they need proper security and space for entertainment.

Make sure whatever choice you make is safe for the baby as she/he grows. Avoiding every single ‘danger’ (Eg: steps, windows, kitchen design) can save you time, money & energy and let you live with less stress

Boredom is one of the main reason kids start to create trouble. In my view, they need space and ‘stuff’ to keep them away from TV or them getting grumpy. Time to time our kids get on each other’s throat but all I need to say is “Who wants to feed our fish?” or “Who wants to slide?” or “Who wants to jump on the trampoline”? Immediately they would be the best friends and cheer all the way to the backyard! The whole atmosphere changes.

Having said that, congratulations! Don’t stress out too much about every thing

 

[Lil Skater]

I'll add my congratulations too!! How far along are you?

Whilst babies don't need much space, I found I couldn't sleep with bub in the room with us. I just kept waking up thinking I fell asleep while feeding him and he was lost under the covers, and every single noise I'd jolt awake.

So while I still wasn't getting much sleep, I could relax a lot more.

 

[rowena]

congrats on the bubby!!! Mine is due in 7 weeks! its scary how quickly the time flies!!!!!

i guess the other thing to consider is the noise of bubby, will it annoy your tennants downstairs enough to want to make them leave.

 

[1911naomi]

Thanks guys, I'm super sick but I guess that's a whole new thread. I'm only 12 weeks so only wondering what to do, won't make any decisions yet. My husband doesn't want to rent and I have had a look at rentals anyway and I'd rather buy an ok duplex renovatable in future. I think if we built an extra room I feel it would be a temporary thing maybe 2 years which is why I want to make sure it's not a waste of money value wise. May have to win the lotto, $500k would do.
Actually $50k would make me happy. Yes to downstairs tenants too their lease is due in may should I speak to them about it too? I think my husband has heart set on staying here, but we are in flight path too and they drive me crazy sometimes. I think he's concerned about renting both areas of the house out as it would be hard for either side if tenants were loud etc

 

[rowena]

definatley speak to your tennants, so this gives them the option just to possibly extend their tennancy for a couple more months and give you a little more cash before bub is born. It would give you the extra room if they moved out...

Your options are to rent out the entire property and buy another. However if you do this, you may find it difficult getting finance due to banks worrying about you going back to work after maternity leave... I am giong through this pain atm. But i finally got a approval for finance back today. Just note it will take around 30 days just to get the finance and this depends on which lender and if you have all your loans with the one lender or not and i am just under 80% lvr for my 2 IPS, and buying a PPOR with a 20% deposit, and it just got over the line for the approval. it is painful but do-able.

next option is to sell this property and buy something more suitable and this might be your more suitable option especailly if your in a flight path now, and you can use the money from this property for buying the ppor.

 

[psylink]

i guess the other thing to consider is the noise of bubby, will it annoy your tennants downstairs enough to want to make them leave.

+1 to this. While babies are magical I don't know a single person who would want to have a newborn that wasnt family/close live in their house. Sleeping with earplugs is surely bad for your ears

Congrats on the pregnancy!