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.Share this: