How does level of spec affect price of a London house?

[samosamo]

I ask because there's often lots of comments about houses with disappointing low spec bathrooms / kitchens etc.

I'm in the process of buying a house in London. I'll be doing the kitchen abd bathrooms. I will likely move in 5 years for DCs secondary school. I'm wondering what kind if spec I can get away with without impacting price.

I've looked at properties worth way more than the one im buying (I'mbuying fir £1m and after renovations all things being similar to today it could be marketed at £1.5m ) and honestly I'm not impressed by the spec. If I'm right, they're not great. For example:

www.rightmove.co.uk/properties/73759926#/

www.rightmove.co.uk/properties/101604056#/media?id=media11

www.rightmove.co.uk/properties/83326099#/

www.rightmove.co.uk/properties/88258873#/media?id=media11

So I'm just wondering whether the price points at which spec comes into play is far higher for London? Say gosh I don't even know, London house prices are so eye-watering. I mean, this is a £5m house!!! Literally the first i clichéd on in my search www.rightmove.co.uk/properties/85798354#/

With a higher spec would these already expensive properties be worth much more?

Would be great to get some opinions on how much spec impacts the price of a London hiuse.

You only need to do high spec in very expensive areas like Highgate Village or Wimbledon Village. Otherwise you can "spec yourself out of the market" because buyers looking in that area can't afford it, and if they have that kind of money they are usually looking at a better location.

Thanks all, it's been a huge help. Mumsnet does come up trumps sometimes!

I'd avoid navy blue kitchen if I were you. I'd also look at the top price for the road. If yours comes under that, after buying and renovations that's good. If you end up with the most expensive house in the road that's not so good as you will struggle to sell it in 5 year's time

In London at the 2 million mark, you have to go two ways

• present a house which is "done" (high end kitchen, decent bathroom sanitaryware and styled, gym, study etc.) or offer a real renovation opportunity which is a lower price. Spending on an IKEA kitchen is a waste unless you will enjoy it yourself. It will add nothing at sale time.

None of the houses you linked to were low spec they were all, with one exception, rip out and complete redo. You can have a 10m house that is a doer upper if it’s in the right place in London. You are also very unlikely to jump from 1-1.5 with a side return and a loft. Believe me if those margins are there you will be beaten to the punch by developers. Where are you looking at buying?

In London at The 1-2 mark you are paying for location not spec. Lots of 1-2m houses in London with mid spec kitchen and bathrooms.

Could not agree with @Mosaic123 more about the navy blue kitchen, FWIW. Will date it to ‘done 5 or 10 years ago’ in spectacular fashion by the time you come to sell.

I've not looked at houses but flats.

In my experience a high spec addition doesn't really add additional value over a lower spec one of a similar age (eg. 5 year old kitchen) but does help the property sell faster.

However some things are frankly off putting - you can go too cheap on appliances especially if integrated - Bosch/ Neff are fine but beko/ indesit would put me off (I have an indesit washing machine btw which came with my flat). My friend's bought a hugely expensive house that had been cheaply developed they factored the kitchen replacement in to their offer price.

I think at the 1 million price point laminate work top is probably OK but if it is more expensive property then buyers expectations increase.

Sadly, 1 million pounds isn't actually a very fancy house - it's just two professionals with a huge mortgage.

I put too expensive a kitchen into my flat. But I live here and am not planning to move and I wanted all the stuff I chose. I know that If I sell even though it is only a year old I won't recoup the money I spent.

I'm about to do my bathroom - I"m going for mid range products (duravit/ hansgrohe shower).

I've found this thread really interesting. My house in Greater London cost a bit over £1mil, and when we replace the kitchen I expect to spend about £25k all in. We'll have quartz or an equivalent work surface, and appliances at around the Bosch level. Cabinets we'll get from somewhere like DIY kitchens at the higher end of what they offer. We'll spend money on decent lighting above the island, but not £000s. We'll also pay a bit more for a really good fitter.

As has been alluded to upthread, DH and I are two professionals who have benefitted from some historic equity growth, but we also have a pretty large mortgage. We don't have the money or the appetite to spend £80k+ on the kitchen.

@msgloria, I agree with you, once over a certain price you can't get a better kitchen, but you can easily get a more expensive one.

Yes. It is an entirely ordinary house on a completely run of the mill street. And over a million pounds.

It's incredibly sad. Living in London is such a rat race and I just feel I'm constantly scratching about. Even my original post is a bit scratchy!!!

Thanks all

Oh. And a bit contentious maybe, but im definitely getting a character table rather than island!!

@samosamo - can you post a picture of what you mean by character table? That sounds interesting.