What would you do to this property??

[xxKatie9806xx]

For the sake of not outing myself and the area I live I haven’t posted the link, but instead have posted pics of the floor plan, and pic of the front and back of the house.
Am seriously tempted to try and see if we can buy it as a project, but lacking in inspiration! So feel free to give me some inspiration if you have a good eye!

I’m thinking Knock down the garage and extend to the side and rear. Big kitchen/diner across the back. Maybe half the living room to have two smaller lounges. Add utility room, possibly a ‘store’ I.e a garage but not big enough for a car! Or would a study be a better option rather than a store. Add 4th bedroom on the side, and maybe bring the back bedroom and bathroom out a bit at the back?

Sounds like a lot of work, if you don't have a purpose for doing it?

Are you 'developing it' to sell and try to make money ? In which case it doesn't always work if a house gets a lot more expensive than it's neighbours.

Or are you planning to live there ? In which case you need to think what space your family need. How would you want to use the space?

We would likely rent it out. But do the work first so we could get higher rent as a nicer 4 bed and also if we came to sell the work would already be done. It’s in the catchment for a good school so is in a sought after area. There are houses down the same road that are in the price range this one would become so that’s not a concern. Just trying to get my head around the layout.

A study would be a massive advantage with more people working from home . Id knock through the kitchen into the living room to create a kitchen diner. Ground floor extension I would add a utility and study and possibly a snug. Probate sale ?

What would the difference in rent be between a three and four bed? You would need to get a decent yield to make the work you are thinking of worthwhile.

Have a look online for 1950s detached houses which have been extended for ideas. The plot seems quite narrow so if you extend to the side, consider how you would access the garden if the only option is through the house. What about removing garden waste for starters?

The garage could be converted to a store and home office potentially.

I think you need someone cleverer than me with some vision to make extending work.

If you're planning to rent it out, I would suggest that you just tidy it up and only do any renovations before you decide to sell it or move into it yourself. This is what we've done with houses/flats.

Capital investment is unlikely to be repaid on a rental unless yields are particularly high in your area. It would be a wash brush up and back on.

Bigger houses rent for less per sq ft than smaller ones.

Layout looks sensible for a family house, unless the area warrants a huge flashy house I'd just repair and redecorate before letting.

Thanks all, you’ve given me lots of good points to think about.

Some more information for you. The house is in an expensive village and in catchment to a very sought after secondary school. This house is on at 500k as a very run down 3 bed that needs everything doing.
There have been sales of 4 bed houses down the same road for 810k, 820k and 1m.

In the current climate I would modernise as is and leave extending for the future tbh. Rental income asap would be the priority.

If you are very concerned about keeping location private you should know that the images you posted can be reverse searched and the listing found very easily so you might want to have this removed.

@xxKatie9806xx - I would be concerned about that roof tbh. It doesn't look in great shape and may need replacement soon. Also, it's a hipped roflcopters and whilst they're more aesthetic and structurally more durable - they are more expensive to replace than, for example, gable perched roofs.

Also, wise words from @BentBastard

• hipped roof

sorry about typos!

Resale is very different to rental though. If 4 beds go for 800k to £1m the yield on that is likely to be low.

We had a property that was similar. Double storey side and rear, rear single storey, new roof. ... 400k later.

If the sums add up, then a two story extension at the back could work. Add a kitchen/diner across the back and an extra bedroom upstairs.

Definitely don't split the living room, you'd end up with two very pokey rooms.

No I’m not that worried about location, people are free to do that if they wanted thank you though.

The roof isn’t a problem as have a roofer in the family.

The 400k figure scares them though!

So based on the info you have, if you could afford to buy this house (not cash) but with big deposit and a mortgage, would you do it?

To rent? Absolutely not. That’s a LOT of capital relying on capital growth.

To flip? Do the maths!