I think valuers go on sq m of whole house but will look how many bedrooms/bathrooms and what size and size of land, quality of building materials in the structure and the fittings, age of building, extras such as swimming pools etc.
This is interesting: my friend had a large 4 bedroom brick veneer house and she pulled down 2 walls and made 2 large bedrooms. And did all kinds of other renovations - the place looked spectacular but effectively when the valuer came he saw only a well fitted out 2 bed-roomed house. She kept running after him saying, look when we come to sell, we'll put walls back up and make it into a 4 bedder again! But the valuer wasn't interested!
It is different with the Real Estate agent valuer - they look at it through buyer's eyes and can see if it has the 'wow' factor that will make people emotional.
I think you are wise to keep it as PPOR until you are sure because you will pay no interest if you decide to sell if you don't rent it out. Wait and see how you feel but don't leave it too late to get into buying an IP. Good luck.
This is interesting: my friend had a large 4 bedroom brick veneer house and she pulled down 2 walls and made 2 large bedrooms. And did all kinds of other renovations - the place looked spectacular but effectively when the valuer came he saw only a well fitted out 2 bed-roomed house. She kept running after him saying, look when we come to sell, we'll put walls back up and make it into a 4 bedder again! But the valuer wasn't interested!
It is different with the Real Estate agent valuer - they look at it through buyer's eyes and can see if it has the 'wow' factor that will make people emotional.
I think you are wise to keep it as PPOR until you are sure because you will pay no interest if you decide to sell if you don't rent it out. Wait and see how you feel but don't leave it too late to get into buying an IP. Good luck.