What increase in value for detached vs semi?(13 Posts)
I'm looking at a house tomorrow, it is on the same 70s estate as one I have seen previously. Houses are the same size in m2 and similar condition. The main difference is that the one I'm viewing tomorrow is detached with an integral garage rather than a semi with garage behind (accessible by driveway). The garden is slightly bigger for the detached house. When I say detached, the house next door is very close and the gardens overlooking/ not particularly big.
The semi was originally priced at 385, quickly dropped to 375. I offered 350, and was told it was not enough, but the owners would settle for 360. I don't know what they sold it for. An identical semi on the next street sat around at 365 for a month, I don't know if they eventually sold or rented it out.
The detached is priced at 425. Is being detached really worth a 65k (18%) increase in value? Just wondering what to offer if I decide to. I would be buying with a view to converting the garage and extending so need some cash left for that. TOtal budget 450.
Are there other similar sized detached houses with same number of bedrooms and a garage which have sold on the same estate or in the same area recently. What did they go for? What are the asking prices locally?
You need to build a picture using relevant information of prices locally. Usually you can tell what difference an extra bedroom makes to the price, for example.
Look at sold prices for similar detached houses locally. Comparing chalk and cheese is not going to be helpful.
We're on a 70s estate.
Semis with garage behind are going for about £300k. Three bed detached are going for around £450k.
Our 3 bed semi (good position, large garden, garage on the side, etc.) is probably about £350k. £100k is a big jump for not a lot more....
I think it probably is. On our road pretty decent size 3 bed 1930s semi (3 double bedrooms, breakfast kitchen) would sell for around £295k whereas 4 bed detached around £400-425k. Although one bedroom extra the living space downstairs is pretty similar. If I had the cash i would pay the extra just not to put up with the noise of next doors TV through the party wall
Detached houses are always sold at a premium
I agree no immediate noise from neighbours who are joined
we are moving to a detached which is 25-30%% more expensive per square foot than semis on the same road. there is a definite premium. We are in London though so part of the premium is rarity value - most of the housing stock near us is terraces or semis
In terms of the semi/detached debate you could buy a similar/larger sized semi with more uptodate/pleasing features over a detached. We went for detached because we will change what we're not happy with over the coming years whereas we can't make a semi a detached.
Semis round here sell for about 400. Detached houses start at about 450. You can get a detached for 400 but it would either be in a very dodgy location (right on the dual carriageway) or would need a lot of work doing to it.
Going against the grain here - as I understand it, the footprint of a garage is not taken into account unless it is joined to the house. So a semi with a garage behind will probably be more saleable, but the size of the garage won't be incorporated into the overall square footage given on the floorplan. If a garage is integrated, then it is included in the square footage.
So I'd want to check firstly how the square footage has been calculated - because on the basis of what you have said, it sounds as if the semi has more living space if it is say listed as 1,000 sq feet (because that means not including the garage) whereas it sounds as if the detached is 1,000 sq feet including the garage. On that basis, I wouldn't have expected the detached to command a premium of £60k+.
There is a premium however to a detached over a semi detached, but certainly nowhere near 20/25% as other people have suggested where I am. I'd say something like 10% if all other factors (garden / size / position) are similar.
Yy, make sure the reasons the detached is affordable are cosmetic and fixable. On a busy road isn't. Our garden is overlooked in the area we would like a patio so we're having a pagoda that abuts the back of the house which will have climbers over it during the summer months and provide a sizeable area that has a more private feel.
Detached houses attract a premium of 20-25% where I live in comparison to similar priced semis.
It will be area dependent though and a number of factors will contribute to the price including how rare a detached property is.
Thanks for all the replies. I've just looked at it and the reason it's that price is because it's tiny, with no real room to extend (garden isn't very big either). It's very well maintained, so the price is probably about right, give or take 5k, which is much more realistic than many on the market round here.
I think all things considered, I prefer a Victorian semi I've seen. Even though it's attached and has no parking, it's nearer town and it has an extra 10m2 living space and could easily be extended to give another 15m2 and a really nice kitchen/diner/family room. I would just have to wait for them to find something to buy! It also has a garden twice the size.
It's been a useful exercise in seeing what my priorities really are, if nothing else!
Yes it's not until you start looking that your priorities start to fall into place. The semi sounds gorgeous, good luck!
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