Approximate House Value Rise After Extension

remotecontrol

Is there a way of estimating the value of a house after an extension?
We've recently added a 2-storey extension to the side of our 3 bed house, mesuring approx 3.5m x 5.5m, which will include a en-suite bedroom and a new kitchen diner.

The house was originally valued at about £200000 and the extension cost £60000 with another £7500 for the kitchen.

Any help would be appreciated.

Happy New Year:beer:

attila_

Does the street ( or neighbouring house) have a ceiling value?

This is sometimes a good indication of what u could expect

drdpj

Have you tried plugging the numbers into Zoopla? It should give you an estimate of increase in value?

remotecontrol

We're in a close of 22 houses and we're the second to extend to 4 bedrooms. The other one hasn't been sold since it extended so we have nothing to gauge it on.

remotecontrol

drdpj wrote: »

Have you tried plugging the numbers into Zoopla? It should give you an estimate of increase in value?

I tried that, it gave a figure of nearly £300,000!!!!

princeofpounds

A few approaches are possible without involving a surveyor or EA.

- look for nearby houses with the same number of rooms and similar characteristics for sale. Deduct a few percent to account for asking price vs valuation gap.

- Use a square footage valuation, add on the value of the space you have added.

- Simply add on the cost of the extension.

Would advise you to take several approaches and think of it as a range. No-one knows for sure, there is no precise method although a surveyor would essentially perform a slightly more sophisticated version of the above.

theartfullodger

It will add roughly £43.7k.

Cheers!

remotecontrol

theartfullodger wrote: »

It will add roughly £43.7k.

Cheers!

Thanks everyone. Gives an idea what to expect.

john_white

theartfullodger wrote: »

It will add roughly £43.7k.

Cheers!

I made it 45.2k


Are you using the 2013 guess or the updated 2014 guess?

phoebe1989seb

Get an EA - or several - round to give their *valuation*.......or a surveyor?

We also recently had an extension built - although ours was part of a major restoration project on a 200 year old house - and plan to have it valued soon, but that's because we intend to sell.

I've put all our work carried out (rewiring, extension, addition of a bathroom etc) into Zoopla and it has given a price roughly in line with our expectations - although I don't put much trust in these things.

If there is little around to compare with - ours is a relatively unique period house - it does become quite hard to reach a figure.....

theartfullodger

john_white wrote: »

I made it 45.2k


Are you using the 2013 guess or the updated 2014 guess?

1st April 2014 forecast assuming that's when the sale being asked about happens.

I was using the private MSE/RICS property price modelling & forecasting tool. £5 donation to OXFAM gets you access: Produce evidence of donation & you're in!

Cheers!