how much value do extensions add?

brians_daughter

I have also posted this on debate house prices/ecomony but wondered if anyone here could also add any imput?

Now i know this is hard to answer as so much depends upon it but we are thinking of building an extension for additional bedroom, we already have a large kitchen extension with footings to build up and the plans and permission from when the kitchen was done before we bought it.

I have asked a few of the builders who have given us quotes and a few EAs and i have been given random answers!

As i say, i know theres no formula to follow etc but it would be good to know if its worth considering moving rather than extending depending on what value it will add (it does concern me as we know this isnt our forever house and plan to spend the next 3-4 years here before moving on)

I have tried to look on rightmove etc but i cant find any on our estate that are for sale/recently sold so thats no help. So, really i want to know is there a rough guide, say a % of the house value that is used? If not who could i approach to ask the questions the EAs (and rightly so) only seem interested if you are planning on selling, and obviously if we mention an extension they know we arent planning on selling

Just to add we have a 3 bed semi and plan to extend to 4 (with the extra room being a double bedroom)

poppysarah

You'll add value but depending on how you do it and how nice it makes the house will depend on the increase.

If you put on a tiny bedroom with tiny windows and no extra bathroom then the value is less.
Put a nice bedroom with en suite on and in theory the value is more.
However in a rising market the house would have been worth more, and in a falling market it may be worth less.

Thermidor

An extra bedroom will always add value irrespective of property trends.

Cannon_Fodder

Maybe consider it from the other direction, not value, but necessity.

Do you need the room? If yes, do it. If no, don't.

If the alternative is that you would wish to find your 'forever house' ahead of schedule (because the costs of extending were not likely to be fully reflected in increased value) then you might struggle to find a 'forever house' in the current market. Markedly increased volume of 'for sale' signs around, compared to 3-6 months ago, but still poorish quality houses. The keen/desperate to move after waiting so long, rather than the nice houses that think the timing is right to command a premium.

No point moving twice, once to a big enough place, then again to the 'forever house'.

To me, a 4-bed house should be detached. The plot, the parking, etc are unlikely to have been designed for potentially 5 occupants/adults-to-be...

Some, on a budget, might be grateful of a 4-bed semi, but not sure that it would be enough demand to add sufficient value to cover the whole expenditure on the extension.

tyllwyd

If it is a good extension you should add value - but it is very difficult to say whether the value you add will be more than the cost of building the extension. Or if you do the calculations now, whether they will still be true in three or four years time. I'd agree with CF above, only do it, and put up with the noise, disruption etc, if you want the extra room for your own family.

Bananamana

Be sure to get PP, Building regs and covenant consent to say yourself hassle when you do sell.

geoffky

4 bed semis where i live seem to stay on for sale for a very long time..it might be because of the extra money people are asking compared to 3 bed ..
strange things 4 bed semis.

lincroft1710

Friend of mine who lived in a "good" area had a 3 bed det. But people wanting to buy there always looking for 4/5 beds, so he has now extended ready for when he eventually decides to move.

Not everyone who needs a 4 bed can afford a detached, and I know of plenty of 4 bed extended semis near me, but as geoffky posts it can depend so much on the local area.