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How much would you value an additional double room and a shower room?
There is a 3 bedroom house with a bathroom that I’m interested in but it needs a lot of renovation. It’s priced at offers in excess of £600k. It has a 200ft garden but with a large 30 year old structure that would need to be removed or significantly refurbished. The house next to it is almost identical except that it has 4 bedrooms and two bathrooms. This house also needs a lot of renovation and was sold at £665k. It has a 200ft garden. Today another identical 4 bedroom 2 bathrooms property came on the market and going by the pictures very little if anything needs to be done to it. It is on sale for £695k. It has a 90ft garden but wider than the other two.
They are all 1930s properties in a desirable area. What are your thoughts on the 3 bedroom 1 bathroom house versus the 4 bedroom 2 bathrooms no need for renovation house? Is the 3 bedroom one overpriced?
Also do you think the 4 bedroom 2 bathrooms needing substantial renovation house was overpriced?