Basement Conversions

Building a basement or converting an existing cellar, damp basement or below-ground space:
Do you need more space? Perhaps your kids are getting bigger or a relative needs to come and stay? You could use an extra bedroom, study, playroom, shower room, storage, self contained area or utility area?
In areas all over the country but, particularly in London and the south east where land prices are so high, basement conversions are fast becoming the answer. They are an effective use of space and, if waterproofed correctly, can be light, airy, warm - and beautiful spaces!
We have converted dank, dark, wet and flooded basements in London for all manner of applications. These include wine cellars, archive stores for antiques and art, cinemas, home and commercial gyms, home offices, steam rooms and saunas, dungeons with air conditioning, bathrooms, swimming pools and self contained flats. The possibilities are endless and we are currently working on a number of projects where home owners require car parking under their houses accessed from street level.
In areas where land prices are high, building a basement can not only provide the extra space you need but it adds immediate value to the property well above the building costs. In former years, basements were too expensive to build or convert and waterproofing very hit and miss. Often the added value would not exceed the cost of build.
However, times have changed and now that land and houses have risen in value so much, coupled with availability of quicker and more effective construction methods, it is not uncommon to add serious sums to the property value. To quote a larger project in London for instance; a spend of £150k on a medium sized London basement conversion in a terraced property has added nearly £300k to the property value.
The costs of moving house are high without adding any value in the process. On top of the costs there are the inconveniences: finding a house you like, finding a buyer for your house, dealing with agents, changing schools, leaving friends behind, solicitors, the utilities and then getting gazumped for all your trouble.

Taken as an average for a 40% taxpayer selling a property of £500k trading up to £700k, you will have to earn another £60k to pay for the costs of moving with zero return!
Typical add-on costs based on above:
Stamp duty :                 £ 28,000
Estate agency fees :             £ 10,000
Solicitors fees :             £ 3,000
Removals :                 £ 2,000
Total :                 £ 43,000
Return on investment :         £ Nil

Extensions or loft conversions are usually cheaper alternatives but planning constraints can limit these options considerably.
An extension may involve loss of valuable garden space and take the property too close to the boundary. This can impact negatively on value of property over cost of build.
However, many people are now turning to basement options in addition to extensions and loft conversions. The great thing is that planning for basements is relatively easy and is considered by planners to be a very good use of the space. Plus, the advance in basement construction techniques means we can now build airy, light and dry spaces under your house, garden or driveway that are habitable and suitable for multi-use.
Another important advantage to building down is that you soundproof as you go. Whilst loft or attic conversions are common-place, the build is wood above sleeping areas increasing sound travel
If you would like a survey and viability study please call our survey team on 0844 257 3535 or click here for us to contact you.