Is it worth building an extension? These areas are where it’s DOESN’T pay to get the work done
Homeowners could face a shortfall of more than £14,000 once construction costs are taken into account
HOMEOWNERS in some parts of the country shouldn't bother to build an extension if their looking to boost their property value.
Estate agents Hamptons International looked at areas where the costs of adding an extra room are outweighed by the expected increase in house price - and where it is isn't.
It found some Brits won't see any rise in the value of their property - even with another room - once building costs are taken into account.
In Blaenau Gwent in south Wales, where the average house price is just £92,687, homeowners will add £11,627 to their property's value but will be down £14,155 once they've paid for a typical extension worth £25,000.
It's a similar story in Burnley, where homeowners will lose £13,957 if they fork-out for an extension and Stoke on Trent (£13,731).
Of the 10 areas where it doesn't make sense, three are in the north west, three are in the west midlands, two are in the east midlands and one each in Wales and Yorkshire and Humber.
In contrast, homeowners in the south and south east stand to make the most by adding to their property, with 8 of the 10 most profitable areas in the south.
Those in central Bedfordshire can add £57,025 to the value of their home with a new extension - £5,459 more than it costs to build.
Homeowners in Canterbury (£5,264), Castle Point in Essex (£4,703) and Maldon (£2,956), also stand to make a decent sum once building costs are taken away.
In the north, residents in Manchester can add £2,349 and in Hambleton in Yorkshire and Humber will see a return of £2,151.
Overall, Hampton found there are 30 areas where the value added to a property, outweighs the cost of building an extension.
But those in Swindon and Thanet will only see a measly return of £66 once costs are factored in.
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David Fell of Hamptons said: "People extend their home regardless of how much its adds to the value. But when the cost of building an extension is outweighed by the value it adds, an area tends to reach a tipping point.
"Change starts to ripple up and down the street with investors extending as a matter of course or get planning permission for an extension prior to selling. But longer term homeowners also become more likely to extend when they feel they’re more likely to recoup their investment."
Last week, The Sun Online reported a building company claims it can install a £45,000 pre-fab extension in just two weeks.
Meanwhile, Propertymark released a list of the six biggest no-nos homeowners should avoid if they don't want the value of their home to drop in value.
Installing solar panels, darkened rooms and having a swimming pool can knock thousands of pounds off the value of a property.
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