Extend Your North London Home with A Basement Conversion
Are you finding that with your growing family you simply need more space? Maybe you love your home, the location, close to the school etc., but your family is growing. North London property prices continue to rise, as does the cost of moving. You have removal fees, solicitor’s fees, the dreaded stamp duty and many more expenses. On top of all these expenses is the redecoration of your new home, putting your “stamp” on it etc. Many property owners in North London with families are finding the need for more space an increasing problem. Increasingly, homeowners are looking to find this by converting and extending their cellar to create a basement storey beneath their existing property.
Unlike loft space at the top of the house, which lends itself best to creating additional bedrooms, a basement is located close to the main living areas and access, and as such has a more flexible range of uses.
There are two main types of basement conversion – the first, and most cost-effective – is turning an existing cellar into usable living space. The second is excavating a new basement, which will require more significant structural work and is, therefore, more expensive. Bear in mind that it can be much more cost-effective to convert a basement if you are also adding a new extension above at the same time. However, if you have a small garden and lack living space, both can be worthwhile options.
A rough guide to the cost involved the conversion of an existing cellar: £750 – £1,400 per square metre. Lowering the floor level and underpinning an existing cellar: £1,500 – £2,000 per square metre. Digging a new basement space and underpinning: £2,000 – £3,000 per square metre.
On top of these basement build costs you have all the extras to consider – planning applications, party wall agreements, building regulations, and whether you require external access to your new basement conversion.
Before getting bogged down in all the detail, it is best to ask for a free quote, so you know what your options are.
North London Basement Conversions allow for the increase of living space in a building without altering the shape of the building. It utilises space that normally remains unused. A basement conversion is usually the most cost-effective method of increasing the usable floor area of a property.
A good quality basement conversion will enhance both the usefulness and the value of a property, providing the project has been properly designed. Houze specialises in high quality work and strong collaborative partnerships with architects, clients and craftsmen. We are committed to maintaining our high standards across all budget levels and schedules. We will help you understand what you can achieve from a basement conversion and plan and design with your budget in mind.
It has been estimated that in the UK we need 4 million new homes in the next 20 years, so naturally one important option when it comes to using our available building land better is to go down. By adding a basement to a two-storey house you can get as much as 50 per cent more floor area without having to increase the size of the footprint or having to sacrifice any more garden.
Although pricey, a basement can add significant value to your property. For example, if your property is worth £750 per square foot, then you can expect a return on investment of 1.3 per cent if not more. Ultimately, if you’re not thinking of selling in the next 10 years, the real value of a basement conversion is not costed in monetary terms but how much value it will give to you and your family. In a world where size matters, building a basement could well prove to be one of your better options.