Tuesday 20 February 2018

You've got to ask if granny's worth the extra tax

Revenue's online guide bunches together properties from the same area – only differentiating between properties that are detached, semi-detached, terraced, bungalows or apartments. The guide does not reflect features that could boost the market value of your home, such as a large garden, sea view, extension and insulation.

A long garden could add as much as €50,000 to the value of a home in Dublin, according to Keith Lowe, chief executive of the estate agents, Douglas Newman Good. "A three-bed semi-detached home in Dublin with a 90-foot garden could fetch between €15,000 and €20,000 more than a similar home with a 30-foot garden," said Lowe. "If the garden had development potential, it could add another €50,000 to the value of the home."

If you live in the country and have a large one-acre garden, that garden could add as much as €100,000 to the value of your home, depending on the condition of the garden and the county, according to Lowe.

The aspect of your garden could also be worth a few grand – as will a sea view. "A typical home with a south-facing garden could get between €10,000 and €15,000 more than a house with a north-facing garden," said Lowe. "In Dublin, a sea view could be worth at least €100,000 – in parts of Dalkey, a seaview could add as much as €300,000 to the value of a home."

The condition of your property is also important. "If you have a flash new kitchen and swanky new bathroom, as opposed to a crumbly old 1970s' bathroom, then that will add to its value," said Roland O'Connell, president of the Society of Chartered Surveyors Ireland (SCSI). "Highly insulated double-glazed windows will get you a better price for your property than old single-glazed windows. A modern condensing boiler will also add value to your property – as will a well-insulated attic."

An energy-efficient home, such as one with good double-glazing windows, attic insulation, and a modern condensing boiler, could easily fetch you another €15,000 for your property, according to estate agents we spoke to. A granny flat could add between €20,000 and €25,000 to the value of your property. "

You'll generally get back about half of what you spent on an extension," said Lowe. "So if you spent €100,000 on an extension, you could get €50,000 more for your home."

If you own an apartment in Dublin, a car parking space could add between €10,000 and €20,000 to the value of your home, while car parking for an apartment in Cork, Limerick or Galway could be worth between €5,000 and €10,000, according to Lowe.

Irish Independent

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