What would add most value to a property?

rizla01

Hi,

Only my opinion based on the properties that I have bought and sold but a conservatory will only add relative value to your property if a) it's large and b) if the rest of the house is up to good standard.

I certainly wouldn't class a conservatory as the best way to increase the value of your home. Many cost the same or more than a loft extension (Which gives more bedrooms) or a brick built extension to the property (enlarging the whole of the downstairs living quarters.

Just think - what would YOU buy?

These are reckoned to be the order of preference for improvements.

Attic Conversion
Central Heating
Kitchen
Extension
Windows
Conservatory
Bathroom
Redecorate
Do something with your Garden Space






The best way of finding out is your local Estate Agent. Invite him/her round with a view to putting it on the market next year and ask them what improvements they would advise. Different locations demand different improvements depending on what the reqirements of your property are of the potential purchasers.

In general it's impossible to generalise.

You could find This Site rather useful.

To sell up and buy now, depends on what you feel the property market is likely to do over the next 5 years. If up - then move soon. If down - then hang on, to enable you to purchase at the lowest price. Pro Rata you will benefit.

Riz

AuntyJean

rizla01 wrote:

Just think - what would YOU buy?

My personal need is for more 'cupboard' space and somewhere to store tools and ladders etc hence the want of a 3 bed house (3rd as a computer/spare room for grandkids) with garage.

Kitchen is my second 'selling point' as we both enjoy cooking (and eating!).

And before anyone asks, if we did 'everything' to our house it still would not be big enough or have enough cupboard space unless we added a 2 storey extension to the rear. I believe the total cost involved would exceed the cost to just move, hence the reason for my original question.

ReportInvestor

The independent network of estate agents Spicerhaart's latest survey, which identifies the real value of DIY projects on house prices and saleability, reveals a new kitchen tips the scale as most worthwhile home improvement

It's interesting that the Egg survey of 110 estate agents seemed to put kitchens [and central heating] well down the value list (while recognising its popularity among homeowners).

rizla01

Hi Auntie,

I understand your point but if your house is worth 145k in it's present cond then what would it be worth with another 20k spent wisely on it.

Just because the one you want is only 172k doesn't mean that this is all you would acheive on your own prop done up to similar spec, does it?

Once again, you need to get advice from an E.A. or on the other hand if you aren't bothered about making 'top dollar' then go the simpler route and sell up and move into what will make you happiest.

Many people cant be bothered with the trouble of workmen Etc which is where I step in, purchase at a good price and make money on the alterations when I sell on.


PS If you need more cupboard space then perhaps you'de be better to declutter :rolleyes:
Riz

Poppy9

Just a thought but if you have room for a garage are you a semi or detached or it is it a terraced house with rear access.

If you are a semi with lots of room to the side and rear it might be more cost effective to extend. If you sell the EA will want at least 1% of sale price, plus you incur solicitor fees, surveyor fees etc when buying and selling.

I suppose it all depends on whether you like your house/area.

AuntyJean

rizla01 wrote:

Many people cant be bothered with the trouble of workmen Etc which is where I step in, purchase at a good price and make money on the alterations when I sell on.

It is so much easier to 'paint & paper' an empty room. I suspect people don't want the hassle of clearing everthing out of a room otherwise more of 'us' would DIY

rizla01 wrote:

PS If you need more cupboard space then perhaps you'de be better to declutter.

I have items such as the step ladder, powerwasher, steam cleaner, drill & bits, Tins of paint, paint brushes..... as well as 'normal' items (vacuum, ironing board) to store. There is no 'under the stair' cupboard (only two which each house a meter - elect & gas), one cupboard in the kitchen and one in the bedroom. I have cleared out everything non-essential and put what we use least in the loft but it is only 1/3rd floored and has a beam across the middle.

Poppy9 wrote:

Just a thought but if you have room for a garage are you a semi or detached or it is it a terraced house with rear access.

It is a two bedroomed mid terrace. The house we have seen is 3 bedroomed terraced two streets away. Both have rear lane access.

rizla01

From what you now say, Jean, the property that you are considering is actually a larger plot. Not 'like for like' then.

If you can get that much for yours and secure the other, larger property for £175.00 then my advic ewould be that the other property is in better cond. gives more room and is probably a better investment than yours.

Go for it. Quicker, Easier and storage space that you obviously lack.

Wonder what the new neighbours will be like?:)

Riz

GDB2222

Don't forget that there are costs involved in moving:-

Estate agent fees - say £4,000
Stamp Duty - £1750
Removals - £500
Solicitor - £500+

That lot will pretty much pay for a garage.

AuntyJean

GDB2222 wrote:

Don't forget that there are costs involved in moving:-

Estate agent fees - say £4,000
Stamp Duty - £1750
Removals - £500
Solicitor - £500+

That lot will pretty much pay for a garage.

Crikey, I did not realise how much estate agents fees would be. I suppose you would have to add structural survey on top of that, plus re-mortgage fees!!

sneekymum

It says in Mrs Beetons - "Three moves is as good as a fire"

If you really don't need that extra bedroom I'd recommend staying put and having a good life instead. - Since deciding not to move (even though there are five of us in three bedrooms) we've enjoyed a weekly meal out as a family and three holiday's a year...