House Valuation Q for Homeowners

lostinrates

Really2 wrote: »

Indeed they were done for us accept the conservatory and the garage (the old conservatory started to leak and the garage was already there)

But in reality we most probly we would have lost (made less) in the long run had next door sold at a realistic price.

Was the first conservatory beyound repair then? I have no idea how much the average conservatory would cost (my parents conservatory was expensive but its really quite big). Was it (and the garage etc ) less than the ten grand ''extra'' over next door's asking price?

Really2

It has risen in value/fallen by less than average.

lostinrates wrote: »

Was the first conservatory beyound repair then? I have no idea how much the average conservatory would cost (my parents conservatory was expensive but its really quite big). Was it (and the garage etc ) less than the ten grand ''extra'' over next door's asking price?

Yes roof had gone and one window broke due to the movement of the roof. (we doubled the legnth when replacing it, it only cost around £8K for 16' X8', it was only a semi anything larger would have been a bit out of place on the house.
I would say in total we spent around £20K-£25K on the house in 7 years of ownership on block paving the whole front and sorting out drainage new conservatory and cosmetic changes to get it to a very good spec.
Next door is still on sale now at £22K below our sale price (so realisticaly sell for around £40K less).

We most probably purchased our old house a few £K more than we would of paid for next door due to the garage.

I do not think many could argue jobs done on a house make value perhaps not what you recive back but a fully modernised house is always going to get more than an identical one that is still untouched from the 80s.:)

chucky

mitchaa wrote: »

Bit of a strange choice of poll there Generali.

There is no distinction between risen in value and fallen less than the 20% average?

I've had to choose the 1st option, as my home has lost around 10% of it's peak value according to the various indexes.

how about this Mitch - i buy a property at 30% of peak, prices have dropped 15% for my area, has my property increased 15%?

Really2

It has risen in value/fallen by less than average.

chucky wrote: »

how about this Mitch - i buy a property at 30% of peak, prices have dropped 15% for my area, has my property increased 15%?

I am in a similar situation to that and houses have sold for more than mine.

I do not think mine as increased but I do think I purchased at a price that is the bottom for its size at the moment.
I think i could sell it for paid price at the moment but I think I could still do that on another 10% falls .

So I would not say an increase but holding steady for future falls.:)

Generali

chucky wrote: »

how about this Mitch - i buy a property at 30% of peak, prices have dropped 15% for my area, has my property increased 15%?

Hi chucky,

The point of the poll is more about the perception of the change in the value of somebody's house rather than the actual change.

chucky

Generali wrote: »

Hi chucky,

The point of the poll is more about the perception of the change in the value of somebody's house rather than the actual change.

hey Gen - i understand the perception, home owners will be biased and look at the positives and forget the negatives.

as long as your happy in your home, would you care if your property dropped in price or increased? for me personally i don't really care if the value of my property had increased or decreased if it was my home.

for investment properties you would be more concerned but with a view to the yield or the time where you could sell the property to realise any profit.

lostinrates

chucky wrote: »

as long as your happy in your home, would you care if your property dropped in price or increased? for me personally i don't really care if the value of my property had increased or decreased if it was my home.

for investment properties you would be more concerned but with a view to the yield or the time where you could sell the property to realise any profit.

I think a poll on how many OO plan to move at some point would be interesting too. I think its a wee bit more complex than 'home' v 'investment' because some people obviously feel that 'investing' in a 'better' envrionment is key-whether its for their family/inheritance/self/society whatever -and I mke no judgement on any of those in lisinting them- whereas some people feel that a home is a house and thats it...its where they sleep when not doing other stuff. From either camp their might be some who see their house as a one off never leave it purchase, or a stepping stone to a change of investment ...trading up or down etc etc

Really2

It has risen in value/fallen by less than average.

Just thinking out loud.

Have most places not fell by less than the national average?

NI, Wales and areas of the south east have actualy made the UK average falls higher than most areas falls.

So people may actualy be right in thinking that there fall was actualy lower than the national average.;)

stephen163

It has risen in value/fallen by less than average.

I suspect house price falls (and rises) will follow a normal distribution. But the point of a poll like this is perception anyway.

And a sophisticated bear with the intention of sobataging the results would vote for 'less than national average fall'.

neas

It has fallen in value by the same amount as the national average.

Generali wrote: »

I'm trying to see if I can prove a modern economic/psychological theory as it goes. Just for fun.

whats that?

Denial, which isnt a river in egypt :P