Detached Bungalow vs Semi-Detached House

sjnb

Hi All
Firstly - thanks to all the contributors of this board. We've already found some very helpful articles and advice.
I know this is not an exact science and it's going to be impossible to put an X or % amount against it but we are first time byers and have seen a three bedroom detached bungalow that we think would be great for our first home. The bungalow in question needs a lot of work doing to it... we're talking; leaking roof so the dining room carpet was completely drenched, new kitchen, new bathroom, replaster, new carpets, full decoration, huge amount of landscaping (back garden is currently 50% pond that covers approximately 20sqm). The house is OTM for 200k and we think there's over 30k worth of work that would need doing.
On the same road a two bedroom semi detached house with a decent enough spec internally and on a similar sized plot has just sold for £199,950 (or that was the asking price anyway!).
It seems to us that the bungalow price is too high and we were thinking of putting a lower bid in. We know the seller wants a quick sale, and the problems with leaky roof etc are only going to get worse the longer it is on the market.
Does anyone have any experience or advice on how the price of a detached bungalow would compare to a semi detached house? Again, I know there's no hard and fast rule, but we'll take anecdotes at this stage.
Thanks

davidmcn

If floor area and plot size are the same, detached is worth more than semi detached. I don't think being a bungalow is all that relevant (especially as in my experience, lots of "bungalows" actually have an upstairs!).

AdrianC

Some places, bungalows are in high demand, so priced high relative to similar floor area over two stories.

There's obviously the demographic argument for that, but there's also the simple fact that they tend to be on larger plots, because of the larger footprint for the same floor area, and can be extended upwards.

Herzlos

Bungalows tend to be more expensive because some people prefer not being too close to neighbours or not having to deal with stairs.

Is the price something you're happy with? If so then don't worry too much about what a different property cost.

ka7e

There is usually a premium attached to a bungalow as they are in demand with an ageing population. You need to get a builder to realistically price up the work needed - many building materials are in short supply and prices are rising. Then try and get a valuation on what the bungalow would be worth when works are complete. If the sums are in your favour you have to consider where you will live while the works are carried out.

I did consider a 3 bed detached bungalow when I last moved house. It was reduced from £215k to £195 and needed totally remodelling inside and was very damp. We discovered it was only constructed of single-skin brickwork and the cost of internal or total external insulation would have stretched the budget too far. It was bought as a BTL by someone who toshed it over - replaced mouldy carpet, lick of paint and a couple of cheap kitchen units and rented out. No idea how they managed that as the EPC was F when we looked at it!

Davesnave

Living semi-detached can be no problem at all and it's often possible to be still quite private, as we found living in two such houses for 30 years. However, if the people through the party wall are the wrong ones, the situation may be very different, so many buyers accept a premium is worth paying to be detached.

Despite prejudices, there are younger buyers of bungalows, especially those who appreciate the extra outdoor space that often comes with them. While closer to the ground and thus easier to work on in some instances, bungalows cost much the same as houses to fix. We still needed scaffolding to replace our roof, gutters, soffits etc, the only difference being that I could participate at the modest heights involved!

princeofpounds

Bet that's more than 30k work, and be strict about how you approach it - get professionals in to do the right work in the right order.

Personally though, I'd be interested in buying the bungalow. Detached has a value, and in the long term you would have more options to develop the property/site.

FreeBear

sjnb said: The bungalow in question needs a lot of work doing to it... we're talking; leaking roof so the dining room carpet was completely drenched, new kitchen, new bathroom, replaster, new carpets, full decoration, huge amount of landscaping (back garden is currently 50% pond that covers approximately 20sqm).

Solid concrete floor or suspended timber ?

If the latter, possibly rotten joists & floorboards to be replaced. A concrete floor will be cold, so depending on how extreme your renovation is, removal, insulate, and reinstate might be in order - That would give you opportunity to install a wet underfloor heating system.

Putting aside the floor, you should also be contemplating a full rewire, new or updated heating system, and loads of loft insulation. Perhaps new windows & doors if the old ones are getting tired - Your £30K budget is starting to look pretty stretched.

Tip for the gardening - Contact a company specialising in groundworks and hire a mini digger plus operator for the day. Should cost £200-300, but well worth it. Had a man+digger last year to do a bit of <ahem> gardening and we shifted 20 tonnes of soil in a matter of hours. Would have taken me all year with a spade & wheelbarrow.

sjnb

Thanks for all the quick responses.

The reason for trying to benchmark the two is that there's only a handful bungalows on the street and none have gone on the market within the last 20 years. We're taking this as a good sign as people obviously want to stay put when they buy them but it also doesn't help in valuing the house. A few semi-detached houses on the same road have sold over the past few years and all seem to be around the 200k mark.

We're happy enough with the price but considering the work involved and potential risk of unknowns we're a little worried about falling into a money pit and never seeing the value of the house increase past what we put into it.  My concern was that if the semi was valued at the same price but has been fully refurbished, I wonder if the final price our the bungalow would be above 230k (cost of house + conservative refurb budget). We're buying to live in it and not to sell on but I still don't want a money pit.

ian1246

I'd go for it. How much spare cash will you have a month left over after moving? If its a decent amount, it needing work isn't the end-all. You do the priorities with your existing budget, whilst saving up more to finish the other bits.

ian1246

I'd go for it. How much spare cash will you have a month left over after moving? If its a decent amount, it needing work isn't the end-all. You do the priorities with your existing budget, whilst saving up more to finish the other bits.