Basement Conversion benefits by Phil Spencer

Here is a fantastic section from a Telegraph article that we came across, taken from Phil Spencer’s top 20 ways to add value to your home.

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Install a basement conversion

The most expensive form of extension: it costs £200 per sq foot to do the digging, and another £100 per sq foot to do the fitting out. So unless your house is worth £300 per sq ft, you won’t see your money back. It is also the most serious form of extension, as it is going to affect the structural load of your property. Not to be undertaken lightly, or without careful consideration, then. You will need to hire specialists to do the design and the installation, and you will almost certainly have to move out of the house for several months. That said, you can create fantastic spaces underneath your home, and extending your house like this means you can stay in it for longer, enjoy it more and sell it quicker when the time comes. I have just had a basement put in at my home in south-west London. It cost £300 per sq foot to dig and fit out, but houses in the street sell for between £700 and £900 per sq foot, depending on condition – which, in theory, means that for every £1 invested into the house, potentially £3 was added to its value. Also, when I bought the house it was 2,200 sq feet and now with basement and kitchen extension it is 4,000 sq feet – so it has virtually doubled in size. As I say, the real value lies in increasing your living space.”

Here at MacLennan we agree with Phil that a specialist contractor is best suited to the job, and that the benefits of carrying out a conversion can be substantial.

Read the full article here

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