There are several ways of adding value to your property, you could build on to it and create extra living space, or just get permission to build. You won’t have to actually do anything, the planning consent itself adds value on its own. However, keep in mind with planning permission that adding a £50,000 garage conversion doesn’t add £50,000 of value to the house, it would only add the value of what you’ve paid to get planning consent in the first place.
Planning consent, potential and ideas
There’s value in getting planning consent, because people can see the potential your property has, it can give people ideas about what they can do with it once they own it. Whatever you’ve got permission to do with planning consent, it could be to add an extra bathroom or perhaps an extra kitchen, it could lift your property into a different band making it a more attractive option for potential buyers.
Show potential buyers your ideas, show them your plans, show the materials you’ll use
Once you have your plans together, you have something concrete to show visitors to your home, you can show what you have planned, perhaps share a few samples of materials you’re thinking of using. You may live in a place where there’s a particular type of stone which is unique to the area, so you can talk about that and make an impression.
Planning permission costs, ecological surveys and complicated designs
For a homeowner, the cost of planning permission can be expensive, that’s including the survey, prep, submission and design work of the application itself. The planning application fee alone is around £150 and you may have to add ecological surveys if you have different types of wildlife. The cost of planning could go up by as much as 50% too if the designs are complicated. It can also take up to 6 months for permission to be granted.
Brand new applications
The new buyer of the property needs to keep in mind too that if they wish to play around with your original designs which you got planning permission for originally, it could mean making a brand new application.
The potential is endless
Planning permission merely proves that the parts of your property which look either run down or under used have great potential – enough to get them planning consent. It can really help you sell the property.
Buy, knock down, replace
There is also a new trend developing currently, whereby consent is sought by the land owners to actually knock the house down completely and replace it with something else. This can add considerably to the worth of the property, although the house that is planned to replace it must be in proportion with the site.
Professional help or advice from the experts
So yes, planning consent can increase the value of your home, but you need to think carefully about how much you think you can afford to spend on gaining consent, and whether what you’ve sought permission for is a valid planning application. Basically, is it worth your while? If it isn’t then no, it won’t add value, but if it is and you’ve thought it through properly, and your ideas are concrete, then yes it’s worth it.
If you need professional help or advice about applying for planning permission and you’re unsure about what to do next, then get in touch and one of our professional team will be more than happy to help. We have experienced team members who know exactly what they’re doing.
“The Information on this site is provided for information purposes only. The Information is not intended to be and does not constitute financial advice or any other advice.”
IF YOU WOULD LIKE TO SPEAK TO OUR TEAM ABOUT HOW WE CAN HELP YOU WITH YOUR PROPERTY SALES, RENTALS OR INVESTMENTS
Sign up for the latest local properties, news and insights, all delivered straight to your inbox