Property extensions – adding value to your property?

Extending your property?

One of the frequent reasons given for wanting to achieve a higher sale price than a similar neighbouring  property is an extension or significant upgrade. Usually the vendor expects not only to recoup the cost of the development but a mark-up as well.

In reality it’s a bit like buying a ten year old car that had a new engine 20,000 miles ago. The owner probably paid in excess of £2000 for the engine. The car without the engine would be almost worthless.

property, extension, sell online, Rossendale

New kitchen

If you fit a new stylish kitchen to replace the existing one that is maybe five years old then the return will be minimal. If the kitchen is almost thirty years old then replacing it will at the very least make it more saleable however it could be that the buyer doesn’t like your contemporary style and is going to replace it anyway.

Some people would love to have their own swimming pool but in reality the chances of recuperating the cost are very slim. Purchasers don’t want to be encumbered with the high on-going maintenance and energy costs.

Ask the surveyor

Adding an extra room or conservatory can make a difference if the work has been done to a high standard and the quality of the fittings matches the rest of the house.  If additional building work has been done always check that the necessary approvals from the planning department or building control can be provided. This key information can be provided or verified by your surveyor when carrying out a home condition survey. Far better to pay for a survey than risk finding out that the necessary permissions were not granted.

Home Inspection Services in Rossendale, provide independent property advice, offering EPCs, surveys, inventories, floor plans, and property marketing. Ring us on 01706 600540.

 

One Response to Property extensions – adding value to your property?
  1. Steve Frost
    July 26, 2012 | 7:30 pm

    In total agreement, pay for the survey, it will save huge potential headaches.

    Steve

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