yah def double your budged time and $$..I personally would wait til you had all the funds before starting the project (although I'd def buy here and there for it) You don't want to start it, then run out of $$ and have to live in a 1/2 finished project for months before you can save more $$ and start it again.
The house we live in now was bought pretty cheap but needed a ton of work. My dh pretty much gutted and remodeled it from the ground up with the intention on selling it for a pretty profit. It took MONTHS to finish...(we ended up listing this house and our other house and our old house sold first so we moved in this one) we're very happy here though...probably the happiest we've been in any place we've lived.
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