Could a Home Extension in London Earn You a Fortune Next Year?

london home extension flat

A home extension in London could be used to create a completely new flat.

It’s arguable that 2014 will be remembered as the year that house prices in London went barmy and properties as small as a single garage in West London are currently listed for hundreds of thousands of pounds.

Of course, that’s not because it’s so much better at holding lawn mowers and bicycles than other garages. It’s because forward thinking property developers could snap it up for thousands, then transform it into a reasonably sized one bedroom apartment and get millions back.

With this in mind, are you sitting on a potential goldmine of your own?

With a home extension in London, property owners could add a decent sized bedroom or living area to their existing property and increase the amount of rent they are able to earn from their property. In fact, with the right plot and planning permission they could even expand to add an entirely new flat.

Instead of earning another bedroom’s worth of rent, they could earn enough for an entirely new flat. They could even sell it altogether for greater profit.

It all adds up to even more reasons to consider home improvements in 2015.

Of course, it’s the time of year that resolutions start to formulate in people’s minds. Some opt to cut back on certain foods or make time to pursue that long delayed hobby. Others leave self improvement at the door and choose home improvement instead.

This could result in a bigger and better home to enjoy next year, if they have no intention to sell or rent. If they are however looking to cash in, the cost of a London home extension pales in comparison to the prices which properties are going for in the current market.

Food for thought ahead of the New Year.

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Could Home Extensions in London be the key to Shared Homes and Future Living?

The future of home life in the UK is large living spaces shared by multiple adult generations of a family. That is the verdict of a report by the National House Building Council.

Could home extensions be key to this vision?

In truth, the report was published on the future of new-build housing but could have a knock-on effect to home improvement. The NHBC claim that a lack of affordable houses has led to several generations of a family purchasing a home together.

These co-homes have been purchased using a pool of cash and in the years ahead will feature everything from multiple bathrooms to separate front doors.

london home extension flat

It is estimated that more than half a million people have already adapted to this way of living and many take advantage of home extensions to do it.

We’ve all heard of granny flats, but more residents than ever before are using London home extensions to annex part of their home; creating a virtually independent living space for grandparents, teens or young adults who couldn’t afford to enter the London housing market alone.

Rising house prices aren’t the only reason for shared housing of this kind. In general, people are living longer and the population of the UK is growing. These people need somewhere to live.

A home extension could cost thousands of pounds but in addition to increasing the value of the property long term, could also save money through shared household expenses.

You might be reading this and thinking that living with parents again might be bad enough, let alone grandparents! But the benefits are there and the trend is growing as a result.

The older generation can downsize while retaining their independence; albeit with the peace of mind that family are close by. The younger generation can get their hands on a larger property they might not have been able to afford alone.

Home extensions in London are more popular than ever and they are the perfect way to accommodate more members of the family, including the older generations. Could you benefit from greater living space? An extension, rather than a house move, could be the answer.

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