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By Alastair Summerfield,
Sales Associate at Douglas and Gordon, Clapham South.
There is no doubt that the value of property within London has risen noticeably in the last few months and it shows no signs of slowing down. With many areas of London benefiting from regeneration projects like the Ram Brewery development in Wandsworth and of course proposed improvements on transport links, homeowners within the capital are finding it increasingly difficult to move. With a growing family a need for extra space within the home the trend now is to simply extend.
Building a side return extension will undoubtedly increase the value of your property something which is the primary aim of many undertaking a project such as this. However if your intention is to sell you must consider the demographics of your potential buyers. Do they favour all glass, open plan, bi-fold doors or are they perhaps looking for something a little more traditional? No area is the same and it is important to do your homework. Creating a modern open plan structure only to find that your potential buyers a looking for a traditional structure that maintains the feeling of the house will of course negatively affect the sale of your property. Talking to a local estate agent can give you a clear idea of exactly what.
Cost versus return is of course an important factor and while again all areas are different, it is worth taking into consideration that a house without a side-return may sell in the region of £1,200,000 whereas with a side return extension, you could expect to add around £150,000 to that price. Embarking on a project such as a side return extension therefore makes perfect financial sense.
In areas such as Fulham, where property was historically considered to be ‘on the wrong side of the river’, prices have now reached around £980 per square foot; in Chelsea they are over double this making moving an impossibility for many. Creating extra space by adding a side return extension to your home is an excellent way to increase the overall market value.
You must however be completely sure that this is something you want to take on. Although the build is not a terribly long process (Build Team suggest around 8-12 weeks), not taking into account the cost and potentially having to move out, above all you must want to undertake this project. Personally, I believe they’re a great addition to any home and a fantastic way to increase the market value of a property but you must be sure. Deciding to go ahead with a side return is a great idea and will definitely add value to your home, just make sure you plan everything as thoroughly as possible!
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