Extension - price for plans and added property value?

[reubin78]

Hi,

We are currently considering extending our three bed semi-detached by building an on-suite 4th bedroom over the garage.

The trouble is this is all new to us

Question 1 - cost of plans
We have been recommended a friend of a friend who will do this job as a foreigner. He is quoting £350-£400 to create the plans to support the planning application and the same to create the final detail plans. Do these seem reasonsible costs?

Question 2 - add value
I have tried talking to two builders to try and gauge whether they feel the project would offer a return on our investment but they say they can only quote off detailed plans (fair enough) - so how do I work out if it will add value or consume our cash? Should I be asking an estate agent?

 

[freddiemercurystwin]

Costs are very reasonable.

Talk to an estate agent.

 

[indus]

Hi,

We are currently considering extending our three bed semi-detached by building an on-suite 4th bedroom over the garage.

The trouble is this is all new to us

Question 1 - cost of plans
We have been recommended a friend of a friend who will do this job as a foreigner. He is quoting £350-£400 to create the plans to support the planning application and the same to create the final detail plans. Do these seem reasonsible costs?

Question 2 - add value
I have tried talking to two builders to try and gauge whether they feel the project would offer a return on our investment but they say they can only quote off detailed plans (fair enough) - so how do I work out if it will add value or consume our cash? Should I be asking an estate agent?

What does 'doing the job as a foreigner' mean?

In terms of added value, do you want the extension to make you a paper profit or do just want to know what has been spent has increased the value by the same amount?

If you are intending to stay there for the foreseeable future then you need to take into account your enjoyment of the fourth bedroom. This itself has a value.

I've just started an extension but I don't think the cost will be completely reflected by an increase in value of the house by the same amount. I'd hope that about 75% of the cost would be reflected in the new value. But as I don't intend to move I'm happy to right off that 25% because I'm going to enjoy the use of that extension for the rest of my life.

As Freddy said a local Estate Agent is the best person to talk to, they should be easily able to tell you the relative cost of a 3 or 4 bed house on your street.

 

[leeco]

You also could try websites such as zoopla and houseprices.com or rightmove and see if any houses near you have added another bedroom and what they sold for or are selling for.

 

[^woody^]

The cost of building it will be the most important factor, not what the house could be sold for

 

[geraldthehamster]

Should I be asking an estate agent?

A local estate agent was happy to come round and value my house, as it is now and as it would be after proposed improvements. I guess they look on it as cultivating potential clients for future business.

Cheers
trichard