June 23, 2020 No Comment
Are you thinking to extend your house with a basement conversion in London? Do you want to increase the liveability of your existing house? Maybe you want to make your property more saleable in London by basement conversion?
Be it any reason, A basement conversion is a great investment, specifically in the heavily populated cities such as London. Basement conversion in London helps you create extra space that is worthwhile for homeowners.
Did you know?
Recently, a large number of homeowners in London have shown concern about the underground potential of their land properties.
This is because basement conversions can add value to your property by 10 to 15%. In this blog post, you will get to know about common reasons underlying basement conversions in London. How do basement conversions add value to your property? What is the likely cost of basement conversion in London?
But before that, let’s briefly discuss what basement conversion is.
What is Basement Conversion?
Many houses embrace cellars and basements that are not being used and have been neglected for years. These basements are often damp, dark, and dank spaces. A basement conversion is basically a process to change this damp space into a liveable room.
Unlike basement expansion or excavation that involves digging down to build a basement, basement conversions create extra space in your existing house. It is to note that basement conversion requires planning permission and strict adherence to specific building regulations.
Reasons for Basement Conversions in London
Irrespective of the imperative benefit that basement conversion help to create more living space to the house or any other property, basement conversions are done for many other reasons. Basement can be converted in almost all sorts of indoor spaces such as cinema rooms, gyms, wine cellars, games rooms, offices, guest rooms, underground parking, recording studios, living space, and many more. In case you have a big basement, instead of simply adding a single room, you can add the entire floor to your house through basement conversion.
Considering these reasons, it becomes clear that basement conversion depends on your stylistic choice, utilitarian choice, functional choice, and preferred lifestyle. Before your basement conversion, all you need to do is to understand your needs and desires related to this conversion. This will help you in getting accurate cost to get this conversion done and figure out the potential of basement conversion for profit.
Albeit, there are multiple reasons for a basement conversion; however,when it comes to basement conversion in London, the sheer utility choice is to have a liveable space.
Add Value to your Property through Basement Conversion
Have you been using your basement to store unwanted and damaged furniture? Do you want to convert it into liveable space? Basement conversion is one best option that is worthwhile. It adds significant value to your property.
Above all, one thing that basement conversion adds to your house is a competitive edge in the housing market in London. No matter what you are going to turn your basement into, a basement conversion is one such lucrative project that many homeowners are willing to do but lack the energy to do so.
Extra Liveable Space
Basement conversion allows you to add extra space to your home. You can either add additional bedrooms and bathroom in this space to treat your visiting guests. In addition, you can turn your basement into a recreational playing area for your kids as well as organised spaces to store your extra stuff.
Besides, you can get a high return on investment through basement conversion as it not only adds value to your property but also enhance the quality of life by improving your living conditions.
Houses and properties that have converted basements get improved saleability power. Such properties gain popularity among potential buyers in the housing market.
If you have converted your basement into a liveable habitat, it can be of great benefit when you decide to sell it. This is because prospective buyers of your house find converted basement as an added feature that make your property more saleable and profitable.
Cost for Basement Conversion in London
It’s no secret that basement conversion in London is worthwhile. Basement conversions cost almost half as opposed to building a new basement. When it comes to cost-effectiveness, a basement conversion can give you good returns on investment. However, it depends on some of the factors.
Generally, the cost of basement conversion depends on the design. It may cost approximately £2,500 to £3,000 per square metre to get a good basement conversion, and that also depends on your preferred finishes. Similarly, if you want to create an entirely new basement from scratch, it may cost you around £3,000 to £4,000 per square metre.
Besides, you need to consider some other factors when investing in basement conversion in London. These include fees of surveyor or architect, application fees for planning permission and building regulations, etc.
All in all, basement conversion in London is a win-win situation in which you not only improve your living conditions by adding space to your house but also add value to your property by improving its saleability. In short, you get a good return on investment in both improving quality of life and increasing monetary compensation when you sell your property in the housing market of London.