A number of programmes regarding house renovations have sprung up over recent years, but Property Ladder is one of them. It is hosted by Sarah Beeny who dispenses practical advice on budget setting, selling a property and installing rooms/features which will add value and make a house saleable. Unfortunately week after week, the would-be property developers ignore her advice and this can affect their finances.
This episode featured two couples. One couple (Milan and Tai) were converting a cottage to a huge family home. They had a number of objections to their application for planning permission – the neighbours were concerned about the proposed size of the property, the sun being blocked and the effect on trees. There was a delay to the work as the planning application needed to go to Committee. The couple were planning to add a side extension to form a new kitchen and Sarah though this was unnecessary.
When the work eventually started, the builders were working to an old set of plans, which meant that a tiny single garage was built on a plot were there could have been a large garage. Having saved money on the building work, the couple decided to go on a spending spree and placed expensive composite worktops in the kitchen, utility, bathrooms and dining room. In all the couple spent £203,000 on renovations against a budget of £125,000. The house was valued at over £600,000.
The other couple (Leanne and Andy) had a more modest development but had a case of subsidence of the garage area. They had based their development on having money from their neighbours insurance to rebuild the garage and have an extra bedroom. However, this was not forthcoming but Sarah advised them to apply for planning permission (which would increase the value of the house). The couple spent £50,000 on the development and were told that the house was valued at £300,000 and would be £350,000 if only the garage was sorted out.
One day, the developers on Property Ladder will take heed of Sarah’s advice.