While decluttering and lick of paint may add some value to your home before you sell (they’ll definitely add appeal), the best returns are on more practical improvements – ones that need careful planning, time and money.
Full planning permission is reserved for the biggest and most impactful projects – the type a homeowner would usually enjoy for years before they move. Even a permitted development would need serious consideration if it was carried out with the sole purpose of adding value before a sale.
A work around is to obtain full planning permission, or prior approval for a permitted development, and sell with this in place, rather than actually carrying out the work. Don’t forget, there are different processes for lodging planning applications in England, Wales and Scotland.
Here are 4 reasons you should sell with planning permission granted:-
1. You want to add value, quickly
Research by Home Sale Pack found homes for sale that already had planning permission in place carried an 11% premium compared to those advertised without. This equates to additional monetary value of £47,107. A household planning decision should take around 2 months to come through – a far quicker timescale than undertaking any extension or remodelling work.
2. You can’t afford to complete the work yourself
If you’ve been advised that a project would increase your home’s value and appeal, but you simply don’t have the budget to carry out the work, applying for planning permission is a good alternative. It costs an average of £262 to apply for planning permission in the UK. Any application needs to be substantiated with drawings, which Checkatrade say costs an average of £750. This figure can be substantially higher if opting for a top-rate architect – potentially between 7% and 15% of the project cost.
3. Your property is unsuitable for the local market
Much of our older housing stock has failed to keep pace with modern lifestyles and we often see the greatest interest in homes that have evolved. For example, an owner who has permission to create a driveway with drop kerb in an area with parking problems will add appeal. Likewise, a large home for sale in an area with lots of university students will appeal to investors if there’s permission to turn it into a House in Multiple Occupation.
4. You are selling in a competitive market
If your local market is described as a ‘buyers’ one, it means purchasers can afford to be choosy and sellers may have to work hard to win them over. If similar properties for sale have already been remodelled or extended, their improved layout and space may give them the edge over yours. Coming to market with planning permission in place will help level the playing field, especially if your home is priced more keenly than competitors.
Although many value-adding projects fall under permitted rights, there are exceptions. Full or householder planning permission may apply if you live in a flat, a Conservation Area or a National Landscape; if the changes fall outside of permitted development regulations; or if the local authority has removed permitted development rights using Article 4 directions. You’ll also need listed building consent if you home is Grade I, Grade II or Grade II*.
If you would like to know what aspects would add the most value to your home, and for examples of properties that have already been extended or remodelled, please contact our team.
