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Would you do this work in an attempt to increase value in a stalling market?

(29 Posts)
another20 Sun 29-Oct-17 15:41:21

3 bed 60's terrace in nice village in S. Bucks....would doing any of the following add value / profit in current market?

Adding a downstairs loo.
Converting the integral garage to living space.
Kitchen is currently at the front but could flip this to the large lounge at the back so that there is a large kitchen/living/dining opening on to garden and the old front kitchen (merged with converted integral garage) becomes a nice front lounge.

None of this increases the footprint but would be much better use of space and more desirable --- but not sure if in current stalling market it would make a profit if this work was done - or would you leave it as it is?

emsyj37 Sun 29-Oct-17 15:43:57

I think a downstairs loo is valuable. I personally wouldnt ever buy a house with a converted garage as they never look quite right and I like to have a garage anyway.

another20 Sun 29-Oct-17 15:44:03

and sell it as it is for next purchaser to do? Dont want to risk of loosing money on the updates - but dont want to see on as is if there is a profit to be made in doing the work.

another20 Sun 29-Oct-17 15:47:27

thanks ems - I take you point but I think with this house the existing integrated garage looks odd as the house is terraced. There is space for 4 cars on the drive - so garage not needed for parking and large shed in garden for storage.

Mosaic123 Sun 29-Oct-17 16:06:17

Maybe get plans drawn up to do the work but don't actually do it?

emsyj37 Sun 29-Oct-17 16:07:07

Have other houses on the street had similar work done? Do those houses sell for more? You might be best to speak to a few local agents and check sold prices locally.

HipToBeSquare Sun 29-Oct-17 16:07:35

Are you trying to sell now or for future?

If future do it if it makes living in it better for you but if you're trying to sell it I wouldn't do it, just price it right.

Bluntness100 Sun 29-Oct-17 16:10:46

I’d defintely add a downstairs loo.

As for the rest, I’m not sure, are you selling soon? Or will you live in it for awhile longer? I would not do it all just to sell it, unless it’s really shabby, but if it’s makes living in it better then yes.

sall74 Sun 29-Oct-17 16:29:08

All those things will make the property more saleable, none of them will ''add value'' in any meaningful sense.

Therealslimshady1 Sun 29-Oct-17 16:31:03

It is hard to.add value (profit) to a house in a downward market...

another20 Sun 29-Oct-17 16:48:24

Plan is to move soon - would only do this to add value.

Some of the other houses on the road already have the kitchen at the back rather than the front and others have knocked though into the garage. It is a small road and there have been very few sold over the years as people tend to stay long term - so its hard to get a comparable.

I am more worried about the unpredictable market so maybe keep it simple and just sell up immediately.

Viviennemary Sun 29-Oct-17 16:54:47

I don't like converted garages. Nearly always freezing. I don't think I'd be making any big alterations or spending lots if I was intending to sell. Agree it's hard to add profit in a falling market. But some improvements can aid sales if not actually increase the price.

SingingMySong Sun 29-Oct-17 19:35:24

I think there's usually a risk that it'll add less than you'll spend. If you are risk averse then don't do it.

I'd be tempted to put in a downstairs loo if it'll be a good one that comes off the hall, ie not off a living area or kitchen. The rest depends on local market and demand. Talk to estate agents locally perhaps.

RavingRoo Sun 29-Oct-17 19:40:32

Downstairs loo and back kitchen. A lot of people who move to S Bucks nowadays do it from around MK and Bedford, and they are key selling points as the newer builds they’re used to would have the.

Archipops Sun 29-Oct-17 20:07:38

It’s often difficult to sell at the right price in a stalling market, so if it doesn’t add that much value, it may make it easier to find a buyer and sell it at the right price without needing to lower the price later on if it does not sell. I’m doing something similar to my house next year, I know it wont increase it by much because we’re not adding a bedroom but we’ve had experiences in the past where we have found it difficult to sell, due to awkward/unappealing layout of house. Rearraging internal walls and spaces is what I will be doing to my house, because people want big spaces nowadays that look out to the garden.

BubblesBuddy Sun 29-Oct-17 23:23:18

Sell it for less money but make sure it looks as good as it can. Some of what you are talking about is expensive. You certainly won’t make a profit in a falling market. Price to sell.

whiskyowl Mon 30-Oct-17 06:05:40

I think the market is slow and jittery right now, but declines in price are still small. I would sell straight away, because there's a small chance that the value of houses will fall further, which means that you could well be pouring money into a building project while your house loses value. If you're planning on staying locally, then any decline in the value of your own home should be compensated by a commensurate decline in the value of whatever property you are buying, meaning that you come out even-stevens in the end.

MaisyPops Mon 30-Oct-17 06:28:37

Loads of houses near us seem to be converting garages to living spaces and it puts us off (where do people put their tools, outdoor hobby stuff, lawnmower etc? I wouldn't put stuff of value into a shed)

A downstaies loo is useful if there's only one bathroom upstairs.

I'd be wary of spending too much money on it though. Make what's there as neat as possible, consider dropping the aaking price a little if you can abd then ride it out.

FormerlyFrikadela01 Mon 30-Oct-17 06:34:39

I'd only add a downstairs loo if it's actually in a usable space. I've seen far to many that have squashed one under the stairs and they are hideous little holes.
As for everything else is leave it and price appropriately. No way would I be doing a load of work in what's looking increasingly like a downturn.

RoganJosh Mon 30-Oct-17 06:38:32

I’d try and sell quickly tbh. Maybe start planning to get the loo added if it doesn’t get much interest immediately.

Melony6 Mon 30-Oct-17 06:44:34

I would get planning permission for a wheelchair accessible shower room (if you don’t have one) as Retirees/near retirees will be thinking of they’re old age.

rizlett Mon 30-Oct-17 06:45:48

All of your ideas are valid and likely to add value - are you good at shopping around and getting a good quote for the work - can you do some it yourselves?

Maybe ask for a couple of estate agents opinions?

I think garages are outdated and people prefer more living space. Work out the value of each square foot of space in your house and then work out how much square foot of garage space you will be adding.

Downstairs loos can add 5% of your total property value - even if they are located beneath the stairs.

More info here:-

www.nationwide.co.uk/guides/news/articles/2016/06/adding-value-to-your-home

PurpleDaisies Mon 30-Oct-17 06:49:11

I agree with just selling it as it is. I can’t see you’ll get any more that you’ll pay to have a garage conversion done and although a down stairs loo is a good thing, you could just show how it could be done.

kuniloofdooksa Mon 30-Oct-17 07:06:52

I wouldn't do any of these things to add value. By all means do them if you would benefit from them but if you want to move soon then the cost of the works will be broadly similar to the value added so hardly worth the hassle.

Possible exception: if there are a lot of similar properties for sale all the time in your area such that some are destined to languish on the market for months then a few modest improvements might mean that yours gets picked sooner.

Judashascomeintosomemoney Mon 30-Oct-17 07:11:35

None of them add value but they certainly make it more saleable

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