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Is it worth getting plans for extension before selling
needabed
Posts: 91 Forumite
My friends uncle has left him a house, it's not great inside, no central heating and needs a clear out and cleanup.
But it's an end of terrace 2 bedroom with loads of rear and side garden. North London zone 4. Enough side garden to build the same house another 2.5 times. Or demolish and build 2 3/4 bedrooms.
He just wants to put it on the market and get the money. I think he should submit plans for building new houses and if it gets approved it would increase the value? I'm thinking it would cost £350k to build 2 houses and they would sell for £500k-550k each.
Also thinking if the plans are approved I could possibly get £175k together to build one of the houses and sell it, then use the money to build the other house.
But it's an end of terrace 2 bedroom with loads of rear and side garden. North London zone 4. Enough side garden to build the same house another 2.5 times. Or demolish and build 2 3/4 bedrooms.
He just wants to put it on the market and get the money. I think he should submit plans for building new houses and if it gets approved it would increase the value? I'm thinking it would cost £350k to build 2 houses and they would sell for £500k-550k each.
Also thinking if the plans are approved I could possibly get £175k together to build one of the houses and sell it, then use the money to build the other house.
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Comments
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Yes, he will recoup much more with planning permission another dwelling. Without a shadow of a doubt. No brainer, IMHO.Everything that is supposed to be in heaven is already here on earth.
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Doozergirl wrote: »Yes, he will recoup much more with planning permission another dwelling. Without a shadow of a doubt. No brainer, IMHO.
I agree.
When I saw the thread title alone I initially thought no, but after reading the description and location of the property this is definitely worth doing.0 -
Thanks, going to push him to do it.0
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How do you demolish an end terrace? Just asking.
Take the neighbours some cake?0 -
It's not that hard, just expensive.jbainbridge wrote: »How do you demolish an end terrace? Just asking.
If this wasn't London property prices then it probably wouldn't be financially viable.0 -
100% worth it but explore the alternatives - not demolishing but building one new house on the land. Extending the existing one etc.
You're going to need some help here!Thinking critically since 1996....0
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