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Conversions vs. Property Splitting

Mar 3rd 2020 at 2:20 AM

When it comes to selling up, you want to make the most of your property in order to get the maximum value from the house when you advertise your Pooler real estate online. As part of this goal, there are a number of different strategies that you can employ: these include tidying up the property, investing in new furnishings, and carrying out conversions. Weighing up the pros and cons of each of these different strategies is absolutely essential if you are to be sure that you are doing the right thing for your property and its value and appeal to buyers.

Conversions vs. Property Splitting

If you are thinking about trying to add value to your property, then converting the unused space or splitting the property up into separate properties can be a great way of doing so! However, the decision largely boils down to existing facilities, permissions, and budgets.

Splitting up a large property into two (or more) smaller ones can considerably increase the value of the house, however, it can also have large costs associated with it and may take a long time to do. Furthermore, based on the layout of your property, it may or may not require extensive amounts of planning.

Contrastingly, converting smaller areas to increase the amount of living space in your property can be a slightly cheaper option—but this assumes that there is unused space that is available to convert! Furthermore, this will have a lesser impact on the value; a good conversion may increase the value as much as 30%, but the costs of doing so need to be considered.

In Summary

Conversions and splitting up a property can both have a significant impact on the price and value of your property. However, they also come with considerable expenses as well and so the decision as to whether to convert or split up a property, or otherwise leave it as it is at present, is an important one to make.

So, should you convert your unused space in order to increase the value of your home before selling up, or should you try to split the property up into apartments or flats? This largely depends on your existing situation, the value of your property at present, and the costs of doing the conversion. After all, costs for conversions and extensions can vary considerably and this must be weighed up before coming to a final decision—but if it does make financial sense, converting and splitting up a property could add a large amount of value!

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