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~1 metre of space on side of property, how to add value?

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as per title. I have about 1 metre of space running along side a semi-detached property, what can I do that will add value with this small space? Currently it looks like the previous owner made a make shift single storey shed. There is currently nothing to store there as there is good space in the loft and shed.  My current thoughts are to build a downstairs toilet and an extend the kitchen into this space to add a utility room. But these seem nice to haves, than adding any real value. Can I really build up to the 1st floor? For example building a fourth bedroom? Or go into the loft for an extra room. Looking for suggestions.

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Good morning,

i will certainly share my ideas of this. @tengreenbricks do you have any space to the back of the property at all? Also have you got a budget in mind? Remember though you want to add value for profit (I assume) be mindful of the ceiling prices in the area.

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1m is not a lot to work with, if you can build to the boundary, you will only gain 650-700mm internal space.  Obstacles will include ADB and planning to build on the boundary line, and future maintenance becomes difficult requiring access to adjoining land (ie: a fee to pay). The cost will be disproportionately high with the structure to floor area ratio (it’s all walls and roof).  It’s possible, but what are you really gaining as this won’t create a new space. 
 

Without knowledge of the site, going out into the rear, or up into the loft would be worth exploring first. 

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On 11/9/2019 at 10:32 AM, snookjas said:

Good morning,

i will certainly share my ideas of this. @tengreenbricks do you have any space to the back of the property at all? Also have you got a budget in mind? Remember though you want to add value for profit (I assume) be mindful of the ceiling prices in the area.

Going into the back garden is possible.

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Hi ten,

Extending into the rear garden, single storey or 2 storey rear extension may add the real value you are looking to achieve.

Converting the loft space may also do this.

Doing both an extension into the rear garden and the loft may add even more value.

Extending into the 1m on the side of the property is unlikely to create a large increase in value to the property.

But:

Be mindful of the costs of these extensions both in terms of cash, time and your stress levels.

Just because an extension is likely to add value to a property, doesn't mean it definitely will. You should undertake costings for these extensions in time and money, and compare this to any increase in value likely on the property.

Remotely, from the other end of the internet, we on this forum cannot do that for you. We would need a lot more information about the property, its location, its value, how it is financed, etc etc.

Also:

Just because you have the room in the garden for an extension, and a loft ripe for conversion doesn't mean you are allowed to do these works. You have planning and/or permitted development rules and regulations to satisfy aswell.

Your local authority planning department will be able to tell you if the property has permitted development (PD) rights or not.

Discovering what you can and cannot do under PD is easier to work out than planning permission aswell.

Knowing how to achieve the maximum increase in value for the least amount of effort, time and cash is the real key that unlocks the income from property development. 

Adding value to a property is relatively easy. Extracting an income and making money out of a property is much harder.

Hope this helps

Conrad


Conrad Paton

+44 7957 959851

conradpaton@yahoo.co.uk

https://www.linkedin.com/in/conrad-paton-424446110

 

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