House price

HaydenB

I am after some advice on what to do with my house. It is currently 6 bed...4 bed in the main part of the house (over three floors) and then the lower ground floor is a self contained granny flat with 2 bedrooms.

If I was to convert it back into one house, with maybe 5 bedrooms, would this increase or decrease the value?

I appreciate it is a reasonably unique property where it would currently suit a family who may want to also have their elderly parents close. But I am not sure if this limits its value, or enhances it.

RelievedSheff

I would leave it as it is currently configured.

There are an increasing number of families looking after older relations who the property would be suited too.

eddddy

HaydenB said:

I am after some advice on what to do with my house. It is currently 6 bed...4 bed in the main part of the house (over three floors) and then the lower ground floor is a self contained granny flat with 2 bedrooms.

If I was to convert it back into one house, with maybe 5 bedrooms, would this increase or decrease the value?

I appreciate it is a reasonably unique property where it would currently suit a family who may want to also have their elderly parents close. But I am not sure if this limits its value, or enhances it.

Maybe ask a few local estate agents.

They speak to buyers in the local area every day, so they should have a good idea what the demand is for houses with granny annexes vs 5 bed houses.

With a 4 storey house, have you also considered the potential for conversion to up to 4 flats? Have other similar houses been converted? The house might be more valuable if it's sold for development.

Albermarle

If I was to convert it back into one house, with maybe 5 bedrooms, would this increase or decrease the value?

One thing for sure, it would cost quite a lot to do that I presume?

vacheron

In this day and age, future buyers may be very keen on buying something with a separate dwelling that they can rent out as an Air B&B or take in a lodger under the rent a room scheme. I think that would certainy help your house stand out from all the other anonymous "5 beds" on the market. 

Herzlos

4 bed + 2 bed granny flat is likely to have more appeal to many people than 6 bed or certainly 5 bed.

For one, you've got the people who want a granny flat for a granny, but it may be useful as a guest suite, office space, airbnb or for older kids etc. I certainly wouldn't spend any more altering it unless it's been badly done.

N3chifor

Depends on your area, really.  Around here, multi-gen living is HUGE.  That granny flat is probably a major selling point.  Converting it might actually decrease value, unless you're in a market where buyers don't want that setup.  

ReadingTim

Until you're actually looking to sell it, I'd configure it best to suit my own needs rather than the market's perception of value.  So, what works best for you?  

gwynlas

If you are thinking of moving then current configuration would work best as it gives others options.

If you are remaining long term it might be nore useful to increase bedroom sizes and create ensuites to better suit your needs. 

A lot depends on the area you live as this size of house sounds suitable for development into a HMO or individual apartments if there is local need.