Does a single story extension increase value of house?

[Hmmph]

If we were to build a single story extension that changed our kitchen and dining room into a large kitchen/ diner, would it increase the value of our house more than the cost of the extension?

Upstairs obviously would stay the same - typical semi with 2 good bedrooms and a tiny one.

We took advice on this from several people and the answer was no - unless you are going to live in the house for years and years you probably won’t get your money back on it

Depends on how long you are in the house and price changes. We have just done a single storey extension. I don’t know if it will increase the house price by the same amount or more than we spend on the extension but we love it and have no intention of moving. Although our extension was fairly big with a utility room, bathroom, cupboard and changing garage into a bedroom as well as the bigger kitchen diner.

What’s the value of your house? If it’s a cheaper area then you might struggle to get your money back but if it’s pricier then you could add lots of value. Where I live, a basic semi would be about 500k and with the extension it’d be about 600k so you’d be adding lots of value.

I have a fairly small 3 bed semi and the previous owners extended the kitchen and dining room, with a utility room. It makes a massive difference to the feel of the house and is a lovely family area so it's well worth doing for the lifestyle improvement. It definitely added to the cost of the house but I am in an expensive area.

I think this is very area and house dependent. We asked estate agents to come and value the house and give us valuations based on plans we had drawn up.

They were also able to say whether plans made it more saleable and what current buyers were looking for.

Yes, usually.

Where we live, an extension would increase the price by a lot. It's a family area where houses are tiny and very expensive. So any increase in area will make the house a much more lucrative buy.

Sort of. We did the same extension 4 years ago. Budgeted £50,000, but ended up spening £70,000 or so. House value pre extension was £180,000. Valued earlier this year at £260,000 and EA said not to accept less than £250,000 which if we did sell means we break even.
It does depend on the ceiling price in your road, how much difference the extension makes to the house and the build quality.

Very much area and price dependant. Get advice from a local estate agent.
We did an extension last year and I doubt it has increased the value by what we spent but I think it will make it more attractive to buyers.

Yes.

We did a single storey extension and there’s no way the cost would be reflected if we sold now. But we intend to stay here for years so yes, eventually it will add value. We love it so that’s all that matters

We consulted estate agents and despite having a huge corner plot and massive garden they said not to do it unless we planned to stay long term as our house was already at ceiling price for the area and an end terrace which limits its value. Worth calling estate agents to ask.

Hmm well £70k on top of current house price would take it close to the cost of a 4 bed detached. I am just worried that however nice the downstairs is, the upstairs is limited by it’s tiny box room...

Thanks for all your thoughts.

Well if a 4-bed detached is only 70k more, then it sounds like moving might make more sense. There’s currently a stamp duty holiday for properties under 500k, online agents have low commissions etc so it’d be relatively cheap to move.

gigchuckedout56
That's interesting. Any idea why end terrace might limit value?

@ species5618

An end of terrace will always be worth less than a detached or a semi. As the garden is bigger, it’s probably already at the ceiling price for an attached house in the area.

Yes you would be limited by the small 3rd bedroom. Anyone looking for large downstairs space would expect at least 3 double sized bedrooms.
Sorry.

Thanks JoJoSM2 Never realised that.