What difference does double glazing make?

firsttimebuyers_2

Hi,
We are considering purchasing the house we are currently renting (both us and the landlord are keen), however the figure he has in mind (£172500) is way above what we have in mind (£150k).

The landlord bought the house this time last year, and gutted it, fitting a new kitchen, downstairs bathroom and has turned the box room attached to the master bedroom into an ensuite shower room. He has also added double glazing throughout. As well as that, the walls have been re-plastered.

My question is, generally how much would you expect all those improvements to increase the value of a property (its a 2 bedroom terrace).

Any help would be greatly appreciated.

Thanks.

silvercar

Its really not a question of the costs he has incurred or even the value he has added, its a question of what the house is now worth.

pamaris

firsttimebuyers wrote: »

My question is, generally how much would you expect all those improvements to increase the value of a property (its a 2 bedroom terrace).

I gotta say... how long is a piece of string?

duchy

Agreed-check out similar houses for sale. He may be over-pricing it-and anyway if it's a private sale you should expect him to pass along some of the saving of estate agent fees in the purchase price.

nelly_2

I suppose you could say, the bottom line is, what ever it cost to do the work really.

tr3mor

How about you get an estate agent in, pretend you own the place and ask them what they think?

PasturesNew

How much he spent doesn't reflect how much it made the house price higher.

Some "improvements" can devalue a house.

Most/many "improvements" don't increase the house cost by as much as they cost. Plus, fact is, given "free choice", you'd have probably chosen different styles. So you're "putting up with" his vision and style.

The question can't be answered either of how much the house is "worth". You can look and see what other houses have sold for. And what he bought for. You can guesstimate the amount he spent... but at the end of the day - how much is that house worth to you?

If you think it's only £150k because you're an "easy sale" for him, then that won't cut ice where he's concerned.
If you think it's only £150k because of how much he paid, how much he spent, how much you like his choices, how the market moved up ... and, now, how much the market has stagnated, then stick to your guns.

So, really, if you weren't living there. If you'd seen it in the paper and went to view it, how much is that house worth to YOU.

Doozergirl

Agreed. You really have to compare it to what else is out there.

He could have spent £15,000 on a Villeroy and Boch bathroom but you can be sure it would add no more value than a plain white suite and tasteful fittings.

Go and view some houses and work it out that way. See what other houses look like for the same money.

You really do not add value simply by throwing money at a house. Neither can you guage the value by adding what a person paid for a house to what they spent on it.

Running_Horse

Go to http://www.nethouseprices.com/ and see what neighbouring houses have sold for.