Hello! Would love your thoughts on what you would do with this floor plan! If anything …

We just bought our first home! To get into the neighbourhood we like, we had to make some concessions. Which came in the form of the layout. The house had everything we were looking for, but is oddly laid out. It is an older home, but all of the ‘boring’ updates (roof, electrical, plumbing etc) were made by the previous owners.

We have about $25k to make some updates in the short-term. And let’s say $75k in 5 years to do a bigger renovation/remodel. In the short-term, we don’t want to make updates like new floors or the kitchen if we’re going to updating the floor plan a few years later.

SO - can we somehow have at least two functional bedrooms on a floor + an open floor plan?

Our first thought was to take down the wall between the primary bedroom and the living room and switch the location of the kitchen. Moving a kitchen seems expensive though?? Also creates some awkward unused space at the back of the house.

Another thought is to lose the bathroom upstairs and convert it into a bedroom. Then we can open up the whole right side of the main floor. Problem is that that bathroom is small with awkward roof angles. So ‘useable’ bedroom is questionable.

So taking into account short-term budget of 25k and long-term total budget of 100k, what would you do?