Buying property with extending in mind is trending

Dec. 4, 2014 - PRLog -- Buying property for sale in the south west with the intention of extending is a trend noted by many south west estate agents. Now there are figures to back up the buying habits witnessed by property professionals. The Federation of Master Builders forecasts a £6 billion spend on extensions and improvements by homeowners, with a million households adding extra rooms over the next three years.

Although it is not a new concept, there has been an upsurge in buyers looking for residences that can be enlarged. There's also a new set of reasons why people are looking to create extra space.

Traditionally, buying houses for sale in the south west that could be extended was largely the preserve of two: buyers who couldn't afford a substantial house at the time of purchase, so bought a home suitable to extend for when their finances allowed for expansion, and speculators who wanted to add value to a property - buying at a keen price and extending to move the house up into a higher value bracket.

Now there are three additional reasons why Winkworth south west estate agents (http://www.winkworth.co.uk/regions/south-west) are besieged by buyers wanting houses for sale in the south west with extension potential. First are parents who speculate whether growing children will leave the nest much later in life, if at all. They may choose to downsize but retain the ability to add an extra bedroom, should circumstances dictate.

At the other end of the spectrum, there is a shift back towards multi-generational households, where grandparents, parents and children co-habit in the same house. Properties for sale in the south west with outbuildings that can be turned into 'granny annexes' are highly prized among those with aging generations.

Finally, the 'boomerang' generation is creating a new family dynamic in the south west. Comprising of students who move back home after graduating; young renting offspring who return to the nest to save money for a deposit, and casualties of separations and divorces.

Suddenly there's a wave of 20 to 40-somethings looking to return home. Parents are pre-empting this and are buying property with prospective extension potential, should it be a loft conversion, an extra bedroom over the garage or the creation of an additional bathroom to handle more occupants.

Home owners are realising the return-on-investment perks of adding space to a home. It is possible to manage a property's extension and add significant value, providing the build costs do not outweigh the added value. Here's some sage advice for those looking at properties for sale in the south west with extension potential:

Properties for sale in the south west sold complete with planning permission to extend may command a premium

If you see a property that you think would be suitable for extending, take a look at other homes in the road to see if any have already been enlarged

Do not make a purchase based on the assumption that you can extend, as every property will be individually evaluated by the local council's planners

If in doubt, consult with an established estate agent and the local planning office before making an offer

If the property is in a conservation area or is listed, there may be restrictions on the size, style and specification of any extension

Remember that neighbours and the immediate local community can oppose extension plans in some circumstances

Budget for your extension before you make any offer

Find a reputable architect who can draw up plans for any proposed extension, as builder will need architectural plans in order to provide you with an accurate building quote.