The government’s ‘temporary’ rules regarding dropping home extension planning permission is confusing homeowners who are possibly considering progressing this sort of work.
In an attempt to help raise the fortunes of the construction industry, wavering planning permission does not mean home owners will be able to ignore local authority building control. In fact, it could mean that the building control system become even tighter!
Homeowners and householders should look very carefully at the new directives otherwise they could find themselves being led down the garden path.
For instance, they could be overly encouraged by some local builders to add more additional space to their home than the property can actually financially substantiate! For instance, the cost of a new extension may make the value of the property far in excess of the possible selling price, if and when the time comes to sell!
Also, a homeowner could be drawn into a situation where he or she is having substantial building works carried out by builders who don’t actually have the accreditation or certification to construct a an extension that embraces all the essentials of current building regulations and energy efficiency requirements.
This is somewhat contrary to a recent report from the Nationwide Building Society which reckons that homeowners who take the plunge by extending or improving their homes could make sizeable gains.
In fact, according to this building society’s research, a home extension ‘can add a lot to its value — depending on the scope and scale of your project.’
Based on an average three-bedroom British home, Nationwide calculates that adding an extension or loft conversion to your home could increase its value by almost a quarter (23%). This assumes that you increase your home’s floor area by 30sq m.
The Nationwide, however, quite rightly points out: “In more expensive parts of the UK, major building works can cost huge amounts. Even so, with relocating from a three-bedroom to a four-bedroom property costing on average £90,000 more, moving instead of improving can still make financial sense for growing families seeking more space!”
More information: www.nationwide.co.uk