Ask the Team

Question:

Online Enquiry
An enquiry has been made on the Property Price Advice website with the following details.

Full Name:
Alex Sadler

Enquiry:
Don’t know if you can help / advise me. Have plans to turn my 3 bed link detached house into a 4 bed semi. Is this wise? How will it affect house value? Will it make it more or less sellable?

The Team’s Answer

You’re definitely right to add value to your home at the moment as house prices are still pretty static so riding out the downturn is sensible.  There is always the question about detached vs linked and semi but going from a linked to a semi isn’t going to affect your current market value in this climate.  If anything, it will add value ultimately as you are gaining interior space which is pre-requisite for buyers in this climate.  If you are not in the market to sell take advantage of the slump in the building market to get your work done for less than usual.  You would be well within your rights to commission a good, reputable builder at around 65 – 75% less than 2007 building prices.  Make the most of the recession in that way and you will definitely benefit in the long run.  We won’t see prices rise again until around the 3rd quarter of 2010 and that is prime rate dependant!  Go ahead is our advice.