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Buying A House That Needs Extending

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We're interested in buying this house:

http://media.rightmove.co.uk/7k/6218/32261582/6218_WFL401137_IMG_05_0000.jpg

but would HAVE to build a double-height extension after moving in, as we need an extra bedroom. You can see that both neighbours have extended already, and we'd be looking at doing something very similar.

But I'm wondering about the following:

1. The house on the left has an extension with bedroom windows overlooking our property. Would that prevent us from putting windows in the left side of our extension, and could we put them the other side (which would overlook the property on the right of the picture).

2. The garden slopes downwards from the house. Will this significantly increase the cost of the extension, due to the extra groundwork that would be needed to level it (I've been told £1750 per sq metre is a good general guide for the cost of an extension).

3. We would probably need a mortgage to pay for the extension. Could we organise this when arranging a mortgage for the house purchase, since we wouldn't even have planning permission at the time of purchase? Or would we take out a small mortgage on the purchase price, and then get the bank to agree to extend this after we're ready to start building? How would this work if we took our a five year fixed rate mortgage to purchase the house?

4. Is the final value of the house after the extension equal to the purchase price plus the cost of the extension, or would you expect to make a profit. Put it another way, if the extended value is £200k, and the cost of the extension is £50k, does that make the current, un-extended value £150k, or should it be less than that (say £140k) to allow for the hassle and risk of extending?

4. Is the whole thing too risky!? If we bought it and then failed to extend for whatever reason then we'd end up with our daughter and son sharing a room, which obviously can't be a long term solution. Its the only house on the street which hasn't been extended, so I can't see a reason for rejection, but most of the other extensions were completed in the seventies and eighties, and perhaps planning laws have tightened since then?

Any thoughts or advice would be most appreciated fellow HPCers!

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We're interested in buying this house:

http://media.rightmove.co.uk/7k/6218/32261582/6218_WFL401137_IMG_05_0000.jpg

but would HAVE to build a double-height extension after moving in, as we need an extra bedroom. You can see that both neighbours have extended already, and we'd be looking at doing something very similar.

But I'm wondering about the following:

1. The house on the left has an extension with bedroom windows overlooking our property. Would that prevent us from putting windows in the left side of our extension, and could we put them the other side (which would overlook the property on the right of the picture).

2. The garden slopes downwards from the house. Will this significantly increase the cost of the extension, due to the extra groundwork that would be needed to level it (I've been told £1750 per sq metre is a good general guide for the cost of an extension).

3. We would probably need a mortgage to pay for the extension. Could we organise this when arranging a mortgage for the house purchase, since we wouldn't even have planning permission at the time of purchase? Or would we take out a small mortgage on the purchase price, and then get the bank to agree to extend this after we're ready to start building? How would this work if we took our a five year fixed rate mortgage to purchase the house?

4. Is the final value of the house after the extension equal to the purchase price plus the cost of the extension, or would you expect to make a profit. Put it another way, if the extended value is £200k, and the cost of the extension is £50k, does that make the current, un-extended value £150k, or should it be less than that (say £140k) to allow for the hassle and risk of extending?

4. Is the whole thing too risky!? If we bought it and then failed to extend for whatever reason then we'd end up with our daughter and son sharing a room, which obviously can't be a long term solution. Its the only house on the street which hasn't been extended, so I can't see a reason for rejection, but most of the other extensions were completed in the seventies and eighties, and perhaps planning laws have tightened since then?

Any thoughts or advice would be most appreciated fellow HPCers!

Too many variables to give a meaningful answer.

Things to bear in mind. Regardless of what neighbours have done, people can object to your development. Talk to them.

Check what is allowed as a permitted development. Might be much easier to only do a single-storey (though I understand this is not what you need).

Anecdotally, builders are pricing work to sale value of upgraded house, so some say that extensions are less worthwhile nowadays. (just move to house the size you need). This is bluming annoying.

It's a real hassle if you have kids and building work done.

I think the bank won't let you have a mortgage on the basis of what you 'might' be able to do. However, there are still lots of deals that allow you to borrow more later. Maybe consider getting bigger mortgage now and use cash for the extension. If it doesn't work out you can still overpay your mortgage later.

The slope - yep - this will increase price. Also think about access for any machinery needed.

I am interested in this cos I bought a house because I thought I'd extended to add another living room and bedroom above, but when I investigated all the details, even taking into account stamp duty etc, I reckon it would be just easier moving to a bigger property when my kids are a bit older.

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Thanks for the comments. Plus, I'd pay a whopping 20% VAT on the extension, whereas buying a house that already has the extra room is VAT free.

wait and buy a bigger house in a year or two

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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