Will my neighbour's extension affect the value of my house?

amychurch

Scotbot said:

amychurch said:

davidmcn said:

Objectively I can't see it will make any difference. It might reassure a future buyer that there's a precedent for extensions being permitted, though it may be that there isn't currently much doubt about that anyway.

We have already built an extension that didn't affect any neighbours whatsoever, so any potential buyers of our house would already be reassured that they would be able to extend if they wanted to. So, basically, what you're saying is that their extension would not make a difference in regards to reassuring potential buyers?

No they wouldn't.  It would depend what they wanted to do and the fact it has already been extended may actually make further extension more difficult. Permitted development rules are different for houses that have already been extended and full planning permission may be required. 

By extension, I meant that we built a conservatory as all the other houses on the street had done, even the neighbours in question. There is still space to extend, however, how would our neighbours building upwards and outwards, blocking natural sunlight and views, increase the value of our property just by "reassuring potential buyers"?

Scotbot

amychurch said:

Scotbot said:

amychurch said:

davidmcn said:

Objectively I can't see it will make any difference. It might reassure a future buyer that there's a precedent for extensions being permitted, though it may be that there isn't currently much doubt about that anyway.

We have already built an extension that didn't affect any neighbours whatsoever, so any potential buyers of our house would already be reassured that they would be able to extend if they wanted to. So, basically, what you're saying is that their extension would not make a difference in regards to reassuring potential buyers?

No they wouldn't.  It would depend what they wanted to do and the fact it has already been extended may actually make further extension more difficult. Permitted development rules are different for houses that have already been extended and full planning permission may be required. 

By extension, I meant that we built a conservatory as all the other houses on the street had done, even the neighbours in question. There is still space to extend, however, how would our neighbours building upwards and outwards, blocking natural sunlight and views, increase the value of our property just by "reassuring potential buyers"?

No,  all it means is that any future buyer might be able to do the same. Or they might not as planning rules change constantly. The only way you can increase a property's value is to obtain the necessary permission which is then valid for a specified length of time.

amychurch

Mickey666 said:

Does it really matter what the OP's neighbour thinks?  Nothing that anyone thinks is going to prove anything about the OPs future house value so I'm not sure what the OP is looking for.

I used to live in a small rural development of individual houses on private roads, mostly built in the 1930s and 1950s and all were detached in large plots.  A few of the original houses were still unaltered and were mostly 2 or 3 bed bungalows.  However, over the years, because of the location and large plot sizes most of the houses had been extensively remodelled, most into at least 4-bed detached and many far larger.  Some had been almost demolished and then completely rebuilt.  Today, the average house prices are a little over £1m.  The few remaining original bungalows, mostly occupied by their original and now elderly owners, now command a very high price simply because of the now-desirable and in-demand location.

So I'd say that neighbouring building works COULD increase the value of nearby houses, but only if they significantly improved the local area.

All I'm really trying to find out is if my neighbour's argument of their extension increasing our house value due to showing potential buyers that there is potential to build/extend is a credible one. Is it more likely that our house would decrease in value - as an estate agent has said? Or is it more likely that our house would increase in value - as our neighbours are claiming?

numbercruncher8

Don't think anyone can say for sure - anecdotal experiences are not that useful unless the property is exactly the same, and we don't know that.

If the view is a major selling point of the house, for instance a sea view that no longer exists then sure, I could see it happening. Or if there is some kind of vast invasion of privacy that there wasn't before.  

Claiming an increase in value seems optimistic, especially if it is an extension that is standard and would be approved anyway. But if that is not the case, perhaps they could argue that that your house will gain value if you go for similar works.

AlexMac

I don't think there is a definitive answer to your binary question;   

“… their reasoning …was something like "it will show potential buyers that there is potential to build/extend." But what is more likely?

-  That what they're saying is right and our house will increase in value after their extension?

-  Or what we're saying is right and our house will decrease in value?”

 

They think the former (it will show the potential to extend to any future prospective buyer of Your property) 

You think the latter (that any detriment to light or views from your house, will, you feel, make it less attractive to future buyers).

So maybe there is no answer; although I'm personally inclined to your view, not theirs.

The contextual issues are, however interesting. They didn't really have to consult you even if they are exceeding Permitted Development rights and require Planning Approval, as, if they apply, the Council will decide on objective grounds, not just because you and others object.  The fact that they did ask you first shows that they are trying to be reasonable neighbours; but that too may be selfish- no one likes neighbour disputes.

And whether or not you agree to anything, they'll probably go ahead with the Application, since as you say, this is their second bite at the cherry so I guess they are determined.  And they have every right to try.

If so, do you propose to shun them, or carry on as before?  Would you have bought your home if, when you first saw it, their proposed extension had already been in place? Or put another way, will it really be that bad after the initial noise and nuisance of construction ends?   I hope not...  

Chumy

OP is looking for confirmation of what the estate agent said about reduction in value (i.e Yes or No)
@amychurch you have gotten details/insights to enable you come to whatever conclusions you are looking for.
In case you missed that - there is no yes or no answer - There are arguments to support both sides.
All the best

sheramber

have you asked your neighbour how he thinks it will increase the value of our house?

wilfred30

It's a bit of a pointless question IMO.

Whether it increases or decreases the value of your house is irrelevant if, as it would appear, there's nothing you can do to stop them building their extension anyway.

scottishblondie

There's no way I would buy into the neighbour's assertion it will increase your property value, that's just a line they're trying to sell you to get you onside with them building.  Ultimately there is probably nothing you can do if they stay within the planning guidelines then eventually they will get permission.  But if it helps think of it this way... potential buyers will never have experienced your house without the extension, so may well be unaware of it's impact in the same way that you will be.  Personally, I'd be less concerned on the possible devaluation in the future and more concerned about how it will affect you for the rest of the time you're living there.