Great thread! Some very informative comments.
We too are tempted by a renovation/restoration jobbie on a mid terraced house in Dublin, around 1000 sq/foot
Big fear for us is whether we can future proof the home, and create a sell on option in years to come. Big disadvantage at present, is the fact that you'd have to go through the house to get to the garden. Also size of main bathroom upstairs is relatively small, with no current ensuites upstairs. Also no utility bathroom downstairs.
We would hope to put on single floor extension across the rear of the house, and create an open plan layout with existing living room. (I.e kitchen come dining area, and put in double patio door) Existing kitchen at front of house would need to be turned in to seperate living room.
Meeting with builder over next few days, so will be interesting to see how accurate my guesstimates are below??
Kitchen: (Would be small area to fill, so I'm imagine 7k-10k)
Electrics 10k (Family Friend would help us out, but still need materials)
Plumbing and heating 15k ++ (Depends on what could be done upstairs)
Windows (7 windows frames x double glazing )15k
Internal restructuring (We would need to change layout to hallway and knock through existing utility room at back, keeping connection with garden, seperate from rest of house.) 10k
150k would be needed to make it habitable... Major ouch on the cashflow, but alot of 3 bed new developments in dublin, do not come to the market with space upstairs in the bedrooms, big gardens stc.
Could be worth the risk, or could be stuck with a mid-terrace house for life and in debt