IMM wrote:

You are paying for the plot. In 99% of cases demolishing an old bungalow
and rebuilding is profitable, and much cheaper than many conversions.

Assuming you replace it with something more desirable then I could
believe the first bit - although 99% seems doubtful.

However many loft conversions can be completed for under 25K (or much
less if you DIY). You are not going to demolish and rebuild for that.

which is the best bet. New, to new rags, insulation levels, etc, etc.


But the rest of the house is still crap.

Who says? it might be just fine. It may even have real character, and
"period features" that are so sought after...

The only difference is the build price will be at least
three times the cost of the conversion.


Not, so. Conversions can be very expensive,especially if foundation have to
be meddled with.

Loft conversions don't normally need foundation work. If they do, then
it is not an ideal property for conversion in the first place.

The build being to modern regs
etc does not really have much (if any)
impact on the price people will
pay for a house.


If all mod cons are there it will.

You can add "all mod cons" to an older place. As I said - decent
heating, rewire, add an onsuite and utility room perhaps, and a good
many prospective buyers will be more than happy. Lets face it, painting
the outside of a place can vastly increase the chances of selling it -
and adds far more to the value than the cost of doing it. House buyers
(i.e. people) often have hidden shallows!

As mentioned here recently, people will often associate
an older property with a "more solid", and "better built" one (even if
that is not necessarily the case).


You are comparing developer estate homes. And individual homes is looked at
differently.

Huh?

Hence the older "extended" property
with modernisation (i.e. rewire and new heating,
nicely decorated) will sell as well.


Not so.

Suit yourself. Personally if I were buying, the fact that a property is
a "new build" in itself would not be a main purchasing factor. Even if I
could sell the new house for 10K more it is still less return on my
investment than the converted property. (i.e. buy for 150K, knock down
and rebuild for 75K, sell for 250K - net gain 25K Vs. Buy for 150K,
refurb and convert for 30K, sell for 240K, net gain 60K)


--
Cheers,

John.

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