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Renovate / Finance / Problems

It is great to look at that open piece of garden and think how great it would be to have an extra room. Read the following to decide whether you should go ahead:

Over-capitalisation

This means that all the money you are about to spend plus the original purchase price of the house is MORE than what you could sell it for.

The "look" of the neighbourhood"

Are all the houses in the neighbourhood two- and three-bedroom houses with two garages? Then, unfortunately, you will battle to sell your newly renovated 8 bedroom house with 4 garages. The problem is that your property is not in line with what the buyers in that specific area is looking for.

Cost

It can also be quite expensive to add a single room. Speak to an estate agent to see if it would not be better to maybe buy a bigger place.

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