Extension - would it add value to the house if selling in the future?

pasok11

We are thinking if we add extension - this would make our lifestyle perhaps more comfortable, but would cost around £35,000-40,000, would this add value when selling the house? we live in London. 

Slithery

Perhaps a small amount, but not £35k-£40k worth.

Cypruseast

I’m not sure anyone can answer this in any effective way for you unless there is a little more detail.

Naturally you’d hope and expect if you invest in a property that you get it back but like any investment it depends on what you are investing in. An extra bedroom and bathroom then naturally in a flat market the property will be worth more and could be worth a lot more than the initial investment. But adding an extra 6ft to a kitchen and a living space may not in the short term get you your return back. 

If you know an estate agent you could get them round to ask or pull a fly one and get an EA to value it both ways (once they have given you a value on it as it sits currently). You may need to tell a little white lie that you’re considering doing this work prior to a potential sale in the hope it increases the value, makes it more saleable etc...

You’re likely to get a clearer answer that way. 

Doozergirl

We need a bit more information, but if it adds value to house prices anywhere, it adds it in London.  

But we don't knownwhat you live in, what it's worth or how how big this (relatively cheap sounding) extension is. 

macman

If it's a 3 b/r London terrace or semi, then a loft conversion will probably give you a far greater uplift for the same expenditure, as 4 b/r houses are rarer. 

zagubov

We're in a 4-bed semi in London and we don't think any extension would add value in our area.
Nobody looks for a 5-bed in London.
The garden's okay but we've no use for it. We're so close to the city limits we looked at a house whose back garden fence was the city boundary.

[Deleted User]

Are these real scenarios you keep posting about @pasok11 or are they all hypothetical?

macman

zagubov said:

We're in a 4-bed semi in London and we don't think any extension would add value in our area.
Nobody looks for a 5-bed in London.
The garden's okay but we've no use for it. We're so close to the city limits we looked at a house whose back garden fence was the city boundary.

Agreed. Which was why my proposal was based on a 3 b/r property. 4 b/r ones are definitely in demand. My street has approx 120 houses, and I'd estimate that maybe 40 of those have had loft conversions within the last decade. 

pasok11

Thank you. Please see more details: 
We live in London,  we are in a 3-bed (ex-council property bought on a market about 9 years ago),
extension would add 9 metres width and 6 metres depth.
We are thinking - to live on a ground floor ( family of 4) and rent 2-3 bedrooms upstairs to lodgers.

pasok11

Alternatively, we could just live in a house, without the extension, add a loft conversion, making a space for a lodger there?

Comms69

pasok11 said:

Thank you. Please see more details: 
We live in London,  we are in a 3-bed (ex-council property bought on a market about 9 years ago),
extension would add 9 metres width and 6 metres depth.
We are thinking - to live on a ground floor ( family of 4) and rent 2-3 bedrooms upstairs to lodgers.

How will 4 people fit into 54m2 ?
In addition how will 6-7 people cope with a single kitchen and bathroom?
Why do you want a lodger?