Advice on Extension (before it ends in Divorce!!)

Claire788

Hi All,

I've been sifting through all the info on these forums, and I'm still a bit stuckk..

We live in a 1 bed ground floor flat, end terrrance, in Cheshire. Being 1st time buyers in 2005, we're all a bit new to this lark.

We want to get an extension for the back of the WHOLE flat, (we have a massive garden and a Conservatory already) we wanted to make the conservatory into a brick room, and stretch the lenght of the property, (single story) approx 25ft by 11ft.

We have just had a guy from an architectural company round, who has said that the application wouldnt be too difficult, but the whole lot would be £50k. (Inc furnishings and using a Main Contractor to build) and averaged the Architecht costs to be about £3500 alone.

My Other Half, thinks that this figure is rubbish, and given he will be doing the footings, concreting, moving of materials, and supplying himself, reckons it would cost nearer £15000-£20000.

We know a plumber, sparky, and joiner who will do the bits at cost price, so no worries with that.

I told my other half that even at 20k, this was still insane for a 1 bed flat as we'd never get our money back on it. He thinks its cheaper than moving and that we should go ahead.

Does anyone think that he's off his head, or that I should be more reasonable, after a steaming argument last night, I'd rally value other peoples opinions!

Thanks

Claire

Biggie

you forgot one major factor location...

Doozergirl

An extension should really add rooms if you want to add value. If you can play with the plans so that it can be a two bed one day (maybe by putting up a stud wall when you come to sell if you don't want 2 beds right now)

Another very important point regards the freeholder. You have to get permission from them, may well need your lease extending to cover the and they will be entitled to a large percentage of the uplift in value!

Take a look at the asking prices of flats in similar size to yours now and then at those similar in size to the extended flat. See what the difference is.

amcluesent

I can't see that the value-add is worth £20K, if you apply the usual rules-

Will I then need to exceed the top price ever paid in the street?
Will this expand the pool of likely buyers (not if it's still 1 bed)
Is there a significant benefit - not if you already have a decent conservatory

Properties can be overdeveloped!

Doozergirl

amcluesent wrote: »

I can't see that the value-add is worth £20K, if you apply the usual rules-

Will I then need to exceed the top price ever paid in the street?
Will this expand the pool of likely buyers (not if it's still 1 bed)
Is there a significant benefit - not if you already have a decent conservatory

Properties can be overdeveloped!

Agree. I'd always rather be marketing my place at the bottom of one market that at the top of another. (meaning a small 1 bed over a large 1 bed and even a small 2 bed over a large 1 bed.) People always look to compare prices and if yours looks cheap, it wins.