I could be your neighbour! I had a somewhat similar chair that I refurbished when it was just a matter of a new layer of batting and fabric. But after a few years of use, the fabric and batting gave out, and the springs started poking through. I kept the chair for several more years, thinking I would learn to do proper upholstery, but never got around to it. Finally I gave it away, as we don't have room for another chair anyway.
I still think upholstery would be a terrific skill to acquire. It is astonishingly expensive around here--typically more than a brand new, good quality piece of furniture.