New build house value

Discussion in 'General Property Investment Discussion' started by Bobby Campbell, May 13, 2019.

  1. Bobby Campbell

    Bobby Campbell New Member

    Hi,

    I am buying a new build house, the price was set at the beginning of the year however the house won't be ready until Feb next year. We are planning on adding around £20k of extras to the build, upgraded kitchen, granite worktops, built in wardrobes, tiling throughout etc.

    Can someone tell me if this adds value to the house? our purchase price is £282000 for a 4 bed, 3 bath, 2 reception room detached with garage. I'm wondering if that £20k will make the house worth £302k without taking into account normal appreciation.

    Thanks and regards
    Bobby
     
  2. diyhelp

    diyhelp Active Member

    I am not convinced you will see an immediate £20,000 increase in the value of your property. However, are there any properties you can compare and contrast with in the area? Perhaps you could speak with an estate agent for advice?
     
  3. You need to see what the "glass ceiling" is on properties in the area. However, if you are investing in a property to make your home then a £20,000 long-term investment is very different than when looking at it from an investment point of view. When investing in your "home" the potential short-term benefits are not as important when compared to buy to let properties.
     
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