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how can I find out what the market ceiling valuation for a property on my street/area is? In Scotland BTW
I've been quoted £150k for an extension and if I add that to the current value of the house I can't ever remember seeing property on my street go for what the combined net value is. I'm wanting to check I won't be effectively wasting the cash should I need to sell (no plans to sell for years)
ESPC
Mouseprice shows sold prices too. Any new sales take a few months to get on the system though. That said, I'm not sure it is a useful figure for what you want. You'll get the benefit of the extension now and it'll add value when you sell in the future and house prices will likely be higher then.
Rightmove? In england you can ususally get sold prices for properties that are on the market.... Search to include "sold/under offer" ones.
Are there other houses in the street that have done the same sort of extension?
Sometimes you need to spend money without an expectation of getting it all back when the house sells.
You can use rightmove to check sold prices by postcode/street name etc.
Regarding the extension, I guess it depends how much you want/need it
the cost of building materials is really high at the moment,but I don’t know wether that’s going to change
Search Land Registry directly from here -
https://www.gov.uk/search-house-prices
sometimes transactions take quite a while to get updated though if you're looking for bang up to date stuff. That's what drives right move etc as well.
I was in the same boat few years ago in Edinburgh. I work in property so have an idea but used ESPC and Rightmove sold prices as a guide.
May be worth a chat with an estate agent and also don't forget that the monumentally stupid cost of land tax in Scotland and moving costs can easily add £20k to the sums.
We stayed, extended and probably are evens overall but we like the house, area and don't like moving.
Good luck.
It very rare for an extension to add more value than it costs to construct these days. More so now with the ever rising cost of materials.
Don't forget to add all the costs and hassle of moving too.
It very rare for an extension to add more value than it costs to construct these days. More so now with the ever rising cost of materials.
That completely depends on the underlying price of the land it's built on. Even at sky high building prices in the South-east adding space is still going to be profitable in many cases.
It very rare for an extension to add more value than it costs to construct these days.
How do you get to that statement - there's lots of factors.