Detached Cottage With Great Potential
On Tuesday I went to see this property located in a hamlet right outside Haslemere, with the purpose of evaluating how much a renovation would be.
The clients are interested in the project because of the potential uplift in price once renovated to a high standard. But what influences the final selling price is not how much care, labour, thought and high-quality materials go into the property, but the area's acceptance price for the type of property. There are of course notable surprises, friends and clients who sold their houses way above their street's ceiling, but those are exceptions, and therefore not repeatable and unreliable.
So I will leave the 'once renovated' price aside, and focus on what this renovation project will involve.
The renovation would include incorporating the stables and barn into the house by converting it into a kitchen and entrance hall. The existing house is liveable at the moment, and that is a very attractive feature for someone who is keen to keep the costs down. However, what is currently the main house, and features three bedrooms, a kitchen, living room and an upstairs bathroom, will need a makeover as well. The planning permissions are in place, but if the client goes for it, they will need to reapply. Again, the fact that the house is liveable makes this a less stressful situation.
What needs doing: reconfiguring the layout, plumbing (complex as I am assuming it will need connecting from the existing kitchen), roofing (the roof above the garage is new, but the rest needs to be refreshed, either now or soon), kitchen, bathrooms, windows, not sure about electrical rewiring in the house, but certainly in the stable and barn, landscaping the garden.
An attractive project for the right buyer. Contact me direct for an estimate of the cost.
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