1. Thinking
of selling?
If you're considering putting your property on the market then a Property Potential
Report is a good place to start.
At the most simple but effective level, showing the report to potential buyers could
help you sell your property faster and for more money.
By exposing the transformations that could be achieved within Permitted Development
(PD) Rights (i.e. without the need for planning permission), the Property Potential
Report can have the same effect as selling with planning permission but is cheaper,
faster and simpler to obtain.
"Development potential is often overlooked by sellers."
Says Martin Bikhit of Kay & Co.
"You do not even have to do the work.
Simply getting planning permission will increase the price someone will pay."
Alternatively, spend the time and money doing the suggested development works yourself
and then sell for a profit.
On the market, need to move quickly?
Found your new dream home and need to sell your existing one quickly? If you're
concerned that your small kitchen or lack of bedroom space will put-off potential
buyers but you don't have time to rectify the problem then a Property Potential
Report could show potential buyers how the spaces could be transformed, alleviating
those concerns.
On the market, need more viewings?
Don't reduce your asking price, refresh your market with a credible and independent
assessment of the potential contained within your property. Your property could
appeal to developers or an entirely different demographic if you demonstrate how
the property could be transformed.
'Top tips' for selling property are well documented and include advice such as de-clutter,
paint the front door and neutralise the décor. All good advice but in today's marketplace
it's a good idea to have one last trick up your sleeve…
"This is where I believe the Betternest Property Potential Report
to be an invaluable selling tool as it will allow buyers to quickly quantify the
development potential of your property."
Gavin Brazg, Editor
www.theadvisory.co.uk
2. Looking
to buy?
If you're selling your property with the benefit of a Property Potential Report
then make sure you buy with a Property Potential Report.
Consider more properties
Could that two-bed semi in the perfect location become the three-bed family home
you desire?
Resolve potential deal-breaking problems
If you've found a house you love but are concerned the kitchen is too small then
find out for definite if you could extend it.
Check your investment
One property may have significantly more development potential than another which
will therefore affect its suitability for your future needs and its potential resale
value.
3. Move
or Improve?
Move or improve? A question so easy to ask but until now there has never really
been an easy way to answer.
The costs of moving to the property you desire are easy to assess but where do you
start when you want to find out if you can improve your existing home to meet your
needs?
The Betternest Property Potential Report answers those three critical questions:
1. What space can I add?
2. How much would it cost?
3. Will it add value?
Only once you have answers to these questions you can really compare these to the
feasibility and costs of moving.
Tailor-Made
One of the benefits of the Property Potential Report is that we can tailor your
report to meet your specific needs.
For example, if you are a growing family and need another bedroom then we can focus
our design on a possible loft conversion or two-storey extension. Or, if you are
working from home and need a home office we can look at the possibilities of adding
a home office either as an extension, a garage conversion or even as a separate
outbuilding.
Whatever your property's PD Rights will allow we'll be sure to maximise the use
of these to meet your needs.
3a. Move?
You can also use the Property Potential Report to assess the suitability of other
properties which you may consider buying. If you need to move or are unsure about
making changes to your existing home then use the PPR to compare and contrast properties.
Consider more properties
Could that two-bed semi in the perfect location become the three-bed family home
you desire?
Resolve potential deal breaking problems
If you've found a house you love but are concerned the kitchen is too small then
find out for definite if you could extend it.
Check your investment
One property may have significantly more development potential than another which
will therefore affect its suitability for your future needs and its potential resale
value.
3b. Improve?
If you know you'd like to improve your home then the Betternest Property Potential
Report is a great place to start.
Ideas
Whether you know what you'd like to achieve (more living space, another bedroom,
improved light etc.) or not then our design team will optimise the space and light
potential within your home and give you great ideas for inspiration.
Safeguard your investment
We provide you with a credible estimate of the costs of development and the potential
value it could add, ensuring that any improvements we suggest are not 'over-developing'
your home.
Make things simple
Avoid the potential conflict, uncertainty, costs and time delays associated with
a formal planning application, all the changes suggested in our report can be achieved
within your property's Permitted Development Rights. This means fewer restrictions
than a planning application and no need to consult with your neighbours (although
we would recommend that you do so out of courtesy).
4. Architect
Once you have decided that you'd like to develop your home then we would recommend
you employ the services of a good architect, the benefits of good design are invaluable
when you are dealing with such a large financial and emotional asset as your home.
At Betternest we have teamed up with the UK's leading provider of Architectural
services Architect Your Home and have arranged discounted rates for our customers.
This is possible because the work we do on your Property Potential Report makes
the architect's job initially a lot easier.
Click here
to find out more.
The Property Potential Report is delivered to you in two formats, online and hard
copy, for just £495.
Clich here to view
sample.
Getting the Property Potential Report
3 easy steps:
You could attempt to do what we do without us, do read on to see how lengthy, difficult
and expensive it could be!
1. Local
Planning Authority
In order to establish the planning history on a property you will need to write
to your local authority. It normally takes between 12 and 30 days, however your
application will be considered as 'low priority' as local authorities gain supplementary
income by carrying out these searches for solicitors during the conveyancing process
(and they can be penalised by the government for being to slow, for the solicitors
but not for you!). You will also need to enquire whether there are 'planning charges
on the property' from previous developments and make an assessment of any unlawful
developments on the property. You may need to enquire separately into the following:
Article 4 directions, Listed Building consent, Site of Special Scientific Interest,
Site of Archaeological Interest, Legal Agreements, Special Advert Control, Enforcement
Area, Conservation Area, Area of Outstanding Natural Beauty and whether it has any
Tree Preservation Orders within the legal boundary
2. Planning
Consultant/Architect?
Planning consultants are ideally suited to establishing the nature of your Permitted
Development Rights; they will be able to interpret the planning history and determine
what you can and can't do. You may choose to engage the services of an architect
to determine your permitted development rights, but you will need to choose carefully,
this is not really their bag, and they will be more expensive than a planning consultant.
However some architects use permitted development intelligently to get the best
out of a project but this is an exception to the rule and not the norm. The best
time to engage the services of an architect is once you have the report in hand
and you have decided that you want to go ahead with development works. This is when
the services of a good architect can really add value to the process.
3. You or
a Planning Consultant/Architect
Once you have determined the scope of your permitted development rights you will
need to create a quick impression of the property and determine the best way of
applying additional space to it. You/they will also have to carry out an initial
survey of the property to identify the original volume of the house and calculate
the volume of the proposed development in relation to the original dwelling house.
Any previous developments will also need to be taken into account and deducted from
any allowances provided through Permitted Development.
4. You or
a Planning Consultant/Architect
Purchase an OS extract (a plan of the legal boundary of the property) to identify
the proximity of the property to its boundary and to measure the size of the rear
garden. A check of adjacent highways and public footpaths will also need to be made
in order to establish their level of impact.
5. Builders/QS
(Quantity Surveyor)
In order to find out how much the development might cost (and at this stage a 'ballpark'
figure will normally suffice) you will need to consult with builders or quantity
surveyors. They will be able give you a good estimation of the costs involved. With
respect to builders you first have to get them on site (no mean feat), some may
be reluctant to give a figure without detailed drawings as they may feel (and are
often right to feel) that the client (you) will hold them to it further down the
line.
6. Architect/Engineer/Local
Authority/Building Control
You will need to consult with all of these relevant bodies to determine the level
of 'other fees' that you will incur during any development project. These will include
local authority fees such as building control fees and inspection costs, engineer's
fees, design costs and contingencies.
7. Estate
agents & Online Valuation Specialists
Asking Price determination. You can get local estate agents to do this or you can
go online to get an indication of the price that could be commanded in the current
market.
8. Estate
agents & Online Valuation Specialists
Future Asking Price (post development project). Local agents will advise on this
but you will also need to research the local market and purchase data that detail
the average prices in the area.
9. You
Calculate all fees, costs and valuations to answer 'How much might it cost?' And
'Will we make a return on our investment?'