What adds value to a house??

mrcheapandcheerful

Hi folks.
Just interested in your opinions! I've seen two properties which appear identical, however one has had a kitchen and dining room knocked through which to be honest I prefer and would have to carry out this work if I moved to the other one. The one with the kitchen/diner also has a south west aspect and is not overlooked by anybody. This house is also priced 25 grand higher than the overlooked one with the separate kitchen and dining room. The question is what price do you put on different things in order to know you're still getting the right deal?
Your opinions greatly accepted.

Jonbvn

The old joke is that there are three things that effect the price of property.
Location, location, location!!

With regard to location, schools seem to be a hot topic ATM.

If you are considering similar properties in the same area, as you describe, then generally the pros and cons are a lot more subjective.

BTW, never listen to some of the tosh you can see on the property !!!!!! shows regarding this same subject.

"Laminate flooring and some spot lights add 10k" - yeah right!

Becks045

Personally kitchen/diners tend to appeal to more people especially families and young professionals so versus seperate rooms, I can see why it would cost more. However that said £25k seems a lot more if everything else is the same.

Its a buyers market at the moment, see if they will accept an offer or go for the cheaper one, making a low offer saying you will need to change the layout and conduct the work yourself. I can't see the changes costing more than £10k so if you are preapred for the hassle and work, go for the cheaper one.

mrcheapandcheerful

Thanks for your views! Its a hard one because the kitchen/diner house also has garden to three sides and a ready done barked play area and a playhouse so would appeal to my four kids straight away!! Always wanted a larger garden and this house seems to have a much better plot than other houses on the estate. Suppose its down to personal preference at the end of the day and how much you set your heart on it. The schools are fantastic in the area and my partner is always up and down the M1 which is only about three miles away.

dolce_vita

Have a look at this article from "The fool"

http://www.fool.co.uk/news/property-home/2007/10/12/which-home-improvements-add-the-most-value.aspx

Doozergirl

I can't see how any identical house could be worth £25,000 more, tbh unless it's a high value house.

SW garden - desirable, increases saleability, not price.
Knock through - adds no value at all, may increase saleability for some, may reduce it for others! (I was surprised but bitter experience!!)
Larger garden - will increase value.
Landscaped garden - could add a 2/3 thousand.

Your vendors are hoping that everything they have done will increase the value significantly - it doesn't really. You can be seduced and persuaded but subsequent buyers may not be.