Q:Hi folks.
Just interested in your opinions! I've seen two properties which appear identical, however one has had a kitchen and dining room knocked through which to be honest I prefer and would have to carry out this work if I moved to the other one. The one with the kitchen/diner also has a south west aspect and is not overlooked by anybody. This house is also priced 25 grand higher than the overlooked one with the separate kitchen and dining room. The question is what price do you put on different things in order to know you're still getting the right deal?
Your opinions greatly accepted.
SW garden – desirable, increases saleability, not price.
Knock through – adds no value at all, may increase saleability for some, may reduce it for others! (I was surprised but bitter experience!!)
Larger garden – will increase value.
Landscaped garden – could add a 2/3 thousand.
Your vendors are hoping that everything they have done will increase the value significantly – it doesn't really. :confused: You can be seduced and persuaded but subsequent buyers may not be.
http://www.fool.co.uk/news/property-home/2007/10/12/which-home-improvements-add-the-most-value.aspx
Its a buyers market at the moment, see if they will accept an offer or go for the cheaper one, making a low offer saying you will need to change the layout and conduct the work yourself. I can't see the changes costing more than ￡10k so if you are preapred for the hassle and work, go for the cheaper one.
With regard to location, schools seem to be a hot topic ATM.
If you are considering similar properties in the same area, as you describe, then generally the pros and cons are a lot more subjective.
BTW, never listen to some of the tosh you can see on the property porn shows regarding this same subject.
"Laminate flooring and some spot lights add 10k" – yeah right!