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5 "Tells" that the Stock Markets Are About to Reverse

How Much Value Does a Conservatory Add to Your Home?

Housing-Market / UK Housing May 27, 2014 - 10:13 AM GMT

By: Nadeem_Walayat

Housing-Market

Percentage added to home value of 50% to 133% of typical costs incurred. Typically £16k spent can convert into as much as a £22k increase in value, though this is very variable and can result in a loss of 50% of the costs incurred.

Whether a conservatory will add value to your home is not a clear cut decision as it depends on a number of factors such as the intended quality of build as the price for conservatories ranges from £5k at the low end for a wholly UPVC build bolted onto the back of houses to one built onto a dwarf wall of upto 30square metres in area that can cost upto £30k.


Conservatories fall under permitted developments, so should be built in line with the rules and regulations governing single story extensions without planning permission, with added advantage that they are exempt from building regulations if the floor area is not more than 30square metres, and that it is separated from the house by external doors and isolated from the central heating system.

Who should consider having a conservatory built ?

  • If you have a south facing garden and the area that the conservatory will occupy is not shaded.
  • If it will have limited impact on the size of your garden.
  • If your existing kitchen / dining area lacks space.
  • If you don't have a green house and intend on growing indoor plants.
  • If you have the budget for a professional build i.e. at least £12,500, avoid the cheap £5k sales pitches or DIY jobs as you will regret it.
  • If you could do with a space that could double as a children's play area for at least 6 months of the year.

Who should avoid Conservatories?

  • If the intended area for the conservatory is not south facing or is shaded by neighbouring trees / properties.
  • If you already have adequate kitchen / dining area space.
  • If you intend on occupying the space all year round i.e. as a home office.
  • If your building will require significant alterations i.e. to widen the doorway.
  • If you have a small garden.

Regular Maintenance

Conservatories require regular maintenance to prevent leaks, build up of algae growth on the roof panels and general disrepair which means that neglected conservatories instead of adding value will subtract value from your home.

Conservatories - Other Considerations

  • It will tend to get very hot in the summer and very cold in the winter.
  • A conservatory cannot be converted into a single story extension at a later date because the foundations are too shallow.
  • The roof is unlikely to be able to be converted to a wholly covered roof such as slate at a later date due lack of strength. Steer clear of roof replacement companies as they are a waste of money. The
  • The building will lack insulation, and the roof will leak heat in winter so will likely be very costly to heat during the winter months.
  • Many people that have had conservatories built will several years later tend to decide to demolish and rebuild with all year round use single story extensions.
  • It is highly probable that you will only recoup 50% of the cost when selling, so conservatories should be viewed more in terms of increasing quality of life rather than your homes value.

Cooling Conservatories in Summer

If you want to cool an existing conservatory in summer that has clear polycarbonate or glass roof panels then these are several cheap options -

  • First clean and then paint the polycarbonate or glass roof panels either inside with water based paints or preferably outside with weather proof gloss paint or more expensive reflective paint. Note that the paint will eventually flake off given the smooth surface, therefore you will probably need to repaint every year.
  • Attach solar reflective film to the panels and / or the windows.

Warming Conservatories in Winter

Various options are available from re-roofing and installing a layer of insulation to DIY jobs involving radiator reflector sheets glued to the underside of the polycarbonate panels. However none of these are cost effective and likely to make as much a difference (if any) as people expect, therefore it would be wiser to save the money spent on especially the more costly options to replace the conservatory with proper purpose built extensions.

Suggestions:

If you do decide to go with a conservatory then it is better to select the dwarf wall option which will likely cost at least £15k and probably over £20k depending on its area rather than the cheaper alternatives which are unlikely to add any value to your property due to short life span.

In the long-run it will probably be far better to go with a single story extension that would likely cost only an additional £5-10k on top of a £15-£20k spend as an extension will have a far longer life-span / hence value than even the best conservatories.

Ultra Cheap Conservatories

Want to know where you can pick up a cheap conservatory for typically under £1000 ?

Answer - Ebay. There is always a stream of home owners looking to get rid of their existing conservatories ahead of having an proper extension built. The auction sold prices range from as little as £1 for an old pile of rubble to as high as £1000 for a proper dwarf wall built conservatory, with the average sold price around £500, a fraction of the original cost.

The major drawback is that you will likely be expected to dismantle, transport and then erect the conservatory yourself, so it is only a job for someone very competent at DIY and with a lot of time on their hands.

For 14 more value increasing home improvements see the New UK Housing Market Ebook available for FREE DOWNLOAD (Only requirement is a valid email address).

      
   Top 15 Value Increasing Home Improvements
Page
     1. Home Extensions
191
         Permitted Developments
191
         Planning Applications
193
     2. Kitchens Sell Houses
196
     3. Renovate Bathrooms, Add En suites and Toilets
197
     4. Loft Conversions
198
     5. Convert Front Lawns into Driveways
200
     6. Extend Leases and / or Buy Freeholds
202
     7. Conservatories
203
         Who should avoid Conservatories?
204
         Cooling Conservatories in Summer
204
         Warming Conservatories in Winter
205
     8. Front and Back Garden Landscaping
205
         Front Landscaping, Cladding or Render
205
         Front Dwarf Walls and Metal Railings
209
         Back Gardens
213
     9. Replace Tired Old Garden Fences
214
     10. Tree's Danger, Inspection, Pruning and Removal
216
         Are Your Trees Too Close to Property?
217
         Solar Panels
217
         Tree Dangers
218
         Tree Preservation Orders
218
         Tree Inspection
218
         Hedges, Trees and Neighbours
220
         Cutting Your Neighbours Overhanging Branches
221
         Trees to Avoid Planting
222
         Dealing with Medium Height Trees (Under 10 metres)
222
         Dealing with Tall Trees (Over 10 Metres)
224
         Container Trees
226
     11. Going Green - Insulation, Green houses and Water Butts
228
         INSULATION
228
         WATER BUTTS
229
         GREEN HOUSE
229
     12. Storage Space Ideas
232
         Staircase
232
         Converted Lofts
232
         Garages
234
         Sheds
234
         Under House Storage
234
     13. Replace Flat Roofs with Pitched Roofs
235
     14. Quick Cheap DIY Ideas to Help Sell Your Home
237
         Replace Bland Old White Switches and Sockets
237
         Light Fittings
238
         Add or Renovate Neglected Flower Baskets
239
         Solar Lights
240
         House Signs and Numbers
242
         Air Fresheners
243
     15. Painting, Decorating, Cleaning and Maintenance
244
         Ceiling and Wall Plaster Cracks
244
         Painting & Decorating
244
         Carpet Stains
246
         Water Leaks and Maintenance
247
         Exterior Brick Walls Holes and Mortar Repair
248
         Exterior Painting
250
         Decking, Fencing, Garden Furniture and Railings
251
         Lawns
254
         Driveway Pressure Washing and Sharp Sanding
255
         Roofs
256
      
  Home Improvements to Avoid
258
     1. Swimming Pools & Garden Ponds
258
     2. Solar Panel Installations
260
     3. Garage Conversions
262
     4. Children's Play Equipment and Areas
264
     5. Basement Conversions
267
 

New Housing Market Ebook - FREE DOWNLOAD

The housing market ebook of over 300 pages comprises four main parts :

1. U.S. Housing Market Analysis and Trend Forecast 2013-2016 - 27 pages

The US housing market analysis and concluding trend forecast at the start of 2013 acted as a good lead exercise for the subsequent more in-depth analysis of the UK housing market.

2. U.K. Housing Market Analysis and House Prices Forecast 2014-2018 - 107 pages

The second part comprises the bulk of analysis that concludes in several detailed trend forecasts including that for UK house prices from 2014 to 2018 and their implications for the outcome of the next General Election (May 2015) as well as the Scottish Referendum.

3. Housing Market Guides - 138 Pages

Over 1/3rd of the ebook comprises of extensive guides that cover virtually every aspect of the process of buying, selling and owning properties, including many value increasing home improvements continuing on in how to save on running and repair costs with timely maintenance tasks and even guides on which value losing home improvements should be avoided.

  • What Can You Afford to Buy?
  • Home Buyers Guide
  • Home Sellers Guide
  • Top 15 Value Increasing Home Improvements
  • Home Improvements to Avoid
  • Home Winter Weather Proofing 22 Point Survey

These guides will further be supplemented from Mid 2014 onwards by a series of online videos and regularly updated calculators such as the Home Buying Profit and Loss Calculator, which will seek to give calculations on whether to buy or rent based on personal individual circumstances, that will be updated to include the latest expected trend trajectories for future house price inflation i.e. you will have your own personal house price forecast.

4. Historic Analysis 2007 to 2012 - 40 pages

A selection of 10 historic articles of analysis to illustrate the process of analysis during key stages of the housing markets trend from the euphoric bubble high, to a state of denial as house prices entered a literal free fall, to the depths of depression and then emergence of the embryonic bull market during 2012 that gave birth to the bull market proper of 2013.

FREE DOWNLOAD (Only requirement is a valid email address)

Source and comments: http://www.marketoracle.co.uk/Article45770.html

By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2014 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 25 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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