Is Bungalow/Chalet more valuable/in demand than a house?

[BroglieBoy]

One of my friends who owns a few properties around London told me that a bungalow is more valuable than a house. When I asked him why he mentioned the following reasons:

1. lot of wealthy old-age couples downsize and prefer a bungalow and
2. Bungalows are very limited in stock, compared to houses
3. There are hardly any new bungalows being built any more

Is this true?

They usually have bigger land plot so you can extend them and get a big house on a big plot with less floors and more space on one floor.

We’re trying to sell my grandma’s bungalow - since April. All the viewings have been people close to retirement or already retired. All of them say they don’t want to have to do any work to it. It really just needs a kitchen or bathroom. So I’m not sure how popular they are really! I just know we’re struggling to sell.

Agree with above and the face that not many are built. There are 4 new housing developments near us and none of them have bungalows. Seems sill considering the ageing population but I guess they aren't popular with developers due to the larger footprint. They can cram far more people into terrace/semi detached/apartments.

Does the below 3 bed Bungalow look worth £550K? just curious about what others think.

I believe this requires at least 30K to 50K worth of work

1. New Bathroom
2. New Kitchen
3. New carpets, New Indoor doors
4. New Decoration

https://www.rightmove.co.uk/properties/134466200?utm_medium=email&utm_source=emailupdates&utm_campaign=emailupdatesinstant&utm_term=buying&onetime_FromEmail=true&sc_id=45411192&utm_content=v2-ealertspropertyimage&cid=a809ebad-1cfa-4918-af1b-ff9fa4c4f4d4&csg=8e56665acadeffab9fe79acc64716f1fae87ba580f8d23deaa323eb2d3b35916#/?channel=RES_BUY

Point 3 is absolutely correct - very few are built these days. It's more profitable for the developer to use a good size plot for 4 shoebox homes instead. I agree they are in demand - and will probably hold value a little better during the current downturn. Also easier to sell as many retired or retiring don't need a mortgage and are less likley to be fickle after offer.

In the area where I live in order to get planning permission the developers have to show a certain density of housing on the overall area they are building on. Hence the small footprint and ridiculous looking skinny houses and use of the town house design and packing in as many bedrooms in a small space as you can. Basically fit as many people in a smaller plot. So bungalows are never going to be built in this county.

Have you viewed it yet?

It may need more that that done to it e.g. windows, electrics.

Also, the current weird layout of some of the living area would drive me mad - the 'windows' in the kitchen and dining room looking out into the wall of the conservatory/side extension that's been done.

I imagine the original layout would have been like this one (no 78), and they extended what that one calls the 'family room' back towards the garden.

https://www.rightmove.co.uk/house-prices/details/england-79526867-68530266?s=0d6ad20b90c73dd76e937dafc220d514a8e4e8bf4f84e92aab77a0e82a9c5e6f#/floorplan

Don’t know the area, but I would say no. And I think it needs a lot more than that. The kitchen needs to be at least two foot wider even for an older person (mobility issues/hip problems/wheelchair), I bet it needs rewiring and probably plastering, it wouldn’t surprise me if you found asbestos, what exactly is the purpose of that weird side room? It needs a defined function, not to just look like an afterthought. Old folks need wheel in showers, not baths. It’s far from just needing a cosmetic update if you want to be able to sell it to the widest possible pool of buyers some time down the line.

It needs a lot of love and I think you would b closer to 50-100k these days.

I have seen an absolute ton of similar condition bungalows sat on the market this year. One got reduced by 35k last week, taking the asking price from 380 to 290 since March.

Thanks for your input. You have added great points. I completely Agree.

Quite near to me, and yes although bungalows do seem to be priced higher than the equivalent house, I think this is slightly overpriced. It does have good room sizes and the garden is reasonably sized, but from a development pov it’s not a huge plot compared to some and needs probably £100k thrown at it to make it good. I expect it’ll probably go for somewhere nearer £450-£475. Just my 2p.

Thanks. Yes, Some of these are still overly priced. £450 is what is a fair price for this.

It's a reasonable area of Wokingham so I don't think it's that excessive. It's been on the market a while though (it's also listed with Sears)

Price Change History
31/08/2023 Price changed from £600,000 to £550,000
31/05/2023 Price changed from £650,000 to £600,000
05/05/2023 Initial entry found: £650,000Overall change: -15.4% (-£100,000)

138880466 I would say it's overpriced, I don't think anyone would pay half a million? Especially as it looks like it would need around 50 k spent to update it. Lots of bungalows being built in SW, all being reduced as well, like most properties.

For £650K - I think they tried their luck
Even at £550K, I feel it's overly priced. If it was priced right it would have been sold by now as it's in a prime location with excellent schools and close to the station.

Bungalows of the same sq footage as a house are usually worth more than the house, all other things being equal. Where I used to live, where there are actually a lot of them, they were usually up for the same price as a house on the same street the same age and build, but on a bigger plot and with at least 1 bedroom more.

It's strange to expect people to know whether a house is overpriced or not when they have absolutely no idea about the area @BroglieBoy

Wokingham is a very expensive area (as you will know if you are house hunting there). Arthur road is one of the best roads only 0.3 miles from the station.

The person who buys this house will be prepared to take on a renovation project to end up with the sort of house they want in a great area. If this isn't you than move on. Nearby Woosehill has cheaper houses on an estate that will be in good condition for the same sort of price as this one. They would look "better value" if you posted a link on Mumsnet. But it isn't such a desirable location.

The fact it didn't sell at 650k proves it was valued too highly in the current market, and the same goes for 600k.

However, it remains to be seen whether they can now sell it for 550k as it was only reduced on the 31st August. That is not a bad price for prime Wokingham and some people do love this style of house. The amount of work required will be putting people off. But it is likely to sell now it has been reduced 100k from the initial asking price.

Depends a bit by area. I currently live South Coast aka bungalow city. Ten a penny

I'd be concerned about the future flood risk there. Plus if you wanted to extend the kitchen into the side room, it looks like the walls are load bearing so you'd need an RSJ

In my area they are much in demand as there are not many and they often sell to cash buyers/downsizers.

The same sq ft of building usually sits on a larger garden plot and they have better light as neighbouring bungalows don't overshadow. Altogether the bungalow streets in my area seem to sell pretty well. It's an area with an ageing population.

We must be the exception here as on our new development (300-homes) there are about 20-bungalows with a few semi det and the majority det, all are 2-3 bed.
Cost comparison, a small 3-bed det house is £425k and a 3-bed det bungalow is £470k despite having less sqft.
The bungalows all sold off-plan even after the start of the downturn when houses started hanging around.

We’re shortly going to be selling my Mum’s bungalow, which is in a desirable village not far from Wokingham. It’s a semi-detached 3 bed with a small garden. We’ve already had a number of people knocking or putting a note through the door asking if we are selling or renting it. Valued for probate at £500K. Bungalows, unless they are overpriced, sell quickly here. My Mum had hers renovated a few years ago, so the kitchen and bathroom, while perhaps not to everyone’s taste, are clean, modern and certainly liveable with, and don’t shout “old lady.”

I grew up in a bungalow, not far from my Mum’s. When my Dad died my Mum sold it to a developer who had it knocked down and built three detached executive homes on the plot. It was a huge bungalow though, with half an acre garden.