First read this carefully to find out if you can do it yourself or have a friend that can help: http://sheldonbrown.com/frame-spacing.html


I did this to two 20" bikes. Since they are that small the chainstays and seatstays are short so I had to cut the brakebridge and the bridge behind the BB (forgot the name) to open it up enough. Then had a local welder weld it up again in the new spacing. I think this may not be the case with your bike since it is 24" not 20".

I think you should go with the hub that makes you happy in the long run. You can get 3 and 5 speed hubs (without coasterbrake) that should fit in without altering the rear fork but if you need more go for it. If you use the bike a lot you need a bike you like and trust.