Valuation post granny flat - Newcastle

[grantwhit]

Has anyone built a granny flat in Newcastle at all? More specifically the Wallsend/Jesmond area? What was the reval on the property like upon completion? Is this an area where purchase price+construction costs= close to reval or is the valuation lower/higher?
From looking on here there seems to be a disparity across the state with some coming in at 60c in the $ and some at $1.20 in the $
Interested to your anyone's thoughts ta.

 

[tgan]

Has anyone built a granny flat in Newcastle at all? More specifically the Wallsend/Jesmond area? What was the reval on the property like upon completion? Is this an area where purchase price+construction costs= close to reval or is the valuation lower/higher?
From looking on here there seems to be a disparity across the state with some coming in at 60c in the $ and some at $1.20 in the $
Interested to your anyone's thoughts ta.

I too have a property in Cardiff and have seriously considered a gf. Cashflow will be good, but I have been advised that if I was to reval that I could only see about 70-80cents in the $1.
Sorry I don't have an answer for you but hope this helps. For the moment I have put the gf on hold until I get more info.
Come on property friends.....whats your advice or feedback to this dilemma?

tgan