Offer price and renovation costs - any ideas on this please?

cstreet

As the title suggests, I am interested in this houses as a renovation project to turn it into my family home. Ideally would like to do a 2 storey extension out the back and side to add a kitchen diner area, plus a 4th bedroom with en-suite. Other house along the street have had extensions so I'm hoping planning would get granted.


Any ball park figures for a full renovation including building costs, electrics, plastering, decorating, fitting kitchen & bathroom etc? Total square footage would be approx. an additional 50sqm.


A similar house sold just up the road for £550,000 - this was modernised and had a single storey extension out the back to double the size of the kitchen and dining area.


Thanks in advance.

melstar11

Make sure your offer is contingent on you obtaining planning permission if you wouldn't buy without being able to extend as you describe. You don't have to own the place to get pp. I think that extensions cost around £1500 psm, but there will be various factors that will influence the cost.

G_M

try google. 30 seconds gave me

http://www.whatprice.co.uk/costs/extension-costs.php

http://www.homebuildingextensions.com/extension-costs/house-extension-costs.html

http://www.nebuildanddesign.co.uk/news/how-to-calculate-the-cost-of-building-your-house-extension/

+ dozens of other sites......

Doozergirl

Something like £120k, if not more, depending on the quality of your fittings, for a full wrap around extension and significant renovation.

There's a 'double your home for half the money' episiode of a very similar house, iirc. if you want to see how badly people can underestimate the cost of a project.

nubbins

I was going to say 150ish

Hoploz

I'm local, I don't think you'll get this house under asking price, looks a bargain to me at £475, I'd expect it to be over £500k.

I did a 2 storey extension 8m wide by 4m deep and spend just over 100k. Additional renovations would add to that, eg up to £5k for rewire? Boiler? New front door? Kitchen, bathrooms, fireplaces? Driveway? Removal/replacement/renovation of garage? Reckon it'd come to £130k - £150k but it's a high price area and it has a good sized garden so prob still worth doing if you're going to live there ... Prices increasing all the time here.

Cakeguts

Nice pylon.

The reason why the garage is behind the house is because the space at the side of the house is quite narrow. You would not be allowed to build up to the boundary. There isn't really enough room on the side of this house for the kind of extension you are thinking of. If you look at the houses that have got extensions they are on wider plots. What you would get is a long narrow 4th bedroom and a long narrow room downstairs.

There will be a top price that anyone will pay to live in a house with such a good view of that big electricity pylon.

Hoploz

Cakeguts wrote: »

Nice pylon.

There will be a top price that anyone will pay to live in a house with such a good view of that big electricity pylon.

It's also in a prime commuter area in walking distance to a fast mainline station 25 minutes from Waterloo

People in the area have deep pockets

(and need them!)

Hoploz

Cakeguts wrote: »

Nice pylon.

The reason why the garage is behind the house is because the space at the side of the house is quite narrow. You would not be allowed to build up to the boundary. There isn't really enough room on the side of this house for the kind of extension you are thinking of. If you look at the houses that have got extensions they are on wider plots. What you would get is a long narrow 4th bedroom and a long narrow room downstairs.

Agree the side is not wide enough to add much width, but nice long garden so good for rear extension

LEJC

Are you in this project to make money or achieve a family home to live in?

You probably wont make significant gains on the property if you are looking to do and sell quickly but you could create a lovely house over time to live in that will appreciate in value.

I believe the days of buying a dooer up and renovating/redecorating and selling on are almost gone and from experience would suggest if you put in £150k worth of work...it will be worth it but you need to factor in the time and the inconvenience it takes along the way.

back in 2012 I took on a labour of love project and before we started were offered £220k for it...we did the renovations and it cost around £45 k ...we ended with a house that we could have sold for around £275k...so no great improvement in price straight away but we were never into a quick turnaround if at all....

now the house has risen naturally by maybe as much as £100k.....but thats only because its in an area where demand is now high.

its not necessarily the extensions or improvements that will make you money quickly its the general price rises

harrys_dad

Approximately £500 per square foot for a poky two bed and a box room semi. The housing market is mad in some places.