Bungalows – the holy grail of the property market

High demand for single storey properties, coupled with declining supply, means that in many areas, bungalows demand a significant price premium.

Bill Spreckley of Stacks Property Search in Sussex and Surrey says, “The price of the humble bungalow will continue its march upwards as it achieves rarity value. More and more have been knocked down and replaced with four bedroom houses, so those that are left carry a significant premium.”

But away from the south east, more bungalows are available, and while the price per square foot will probably be higher than for a family home set over more than one storey, the price tag will be less eye watering.

Louise Ridings of Stacks Property Search says, “When we’re buying for older clients who are downsizing, we automatically take into consideration access, particularly to upper floors. I’m a great fan of the bungalow and think it’s sad that so many are bulldozed and replaced with houses. The supply is certainly diminishing.

“Many bungalows are extended vertically, so they’re no longer technically bungalows. So finding a large bungalow can be challenging. If it doesn’t compromise the plot, it makes much more sense to extend bungalows laterally. And improvements can often be made if they’re lacking in the aesthetics department.

“Many bungalows come to the market as probate sales. A good lateral extension and improvement project is likely to show a good return on investment.

“Bungalows are often targeted by developers. But as a private buyer you may be able to compete with developers on price.

“Think about ways of adding value. There is almost always scope for extension and plenty of room for improvement. They suit contemporary design trends for open plan, lateral space with plenty of opportunity to create access to outside living areas. So don’t think you’re going to see the best returns by extending vertically.

“Invest in energy efficiency – plenty of roof space is great for solar panels; and landscaping which can be virtually non-existent. Look at ways of creating interesting and useable indoor/outdoor ergonomics, hiding car parking, and adding character to what is often a large but rather bland plot.

“As our population ages, high end bungalows are the asset class of the future, so you must expect to pay now. The days of getting a cheap bungalow because it isn’t a great beauty are sadly long gone.”

Cuddington, Buckinghamshire

http://www.rightmove.co.uk/property-for-sale/property-68525261.html

In the village of Cuddington, Buckinghamshire, a four bedroom bungalow is available for sale. A local builder bought the rather tired property and renovated and contemporised it for his family. It is now on the market for £775,000. The vendors have indicated that they may be happy to talk about the project. (Please contact Amanda MacCaw in the first instance).

Stacks Property Search & Acquisition, 01594 842880 / www.stacks.co.uk

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• For more information, jpgs and interviews, contact Amanda MacCaw, 01386 700068 / 07977 238175 / amanda@wildmaccaw.co.uk