With today’s housing market becoming ever more competitive, you may be looking at ways you can add value to your property and increase the available living space.
Extensions and loft conversions have long been popular options, but now the Express has suggested that a cellar conversion could be the way to go to add the most to the price of your abode.
The newspaper cited figures from website PropertyPriceAdvice.co.uk, which claimed you could add up to 30 per cent to the value of your property by converting the cellar.
Of course, basement conversions can be costly to carry out, and you’ll need experts in cellar tanking to ensure the space is fully waterproof, but it could be worth it for the returns you can see.
One of the big advantages is that you don’t need planning permission to convert your basement into additional living space. That said, many cellars can have low ceilings, which may mean you want to lower the floor to make the space more usable.
If you decide to do this, you will need to obtain planning permission before going ahead. It’s therefore important to consider whether a low-ceiling basement that can be used for storage is still worth the effort of converting.
Earlier this year, This Is Money suggested that you could make some cash by renting out your cellar for storage. According to the news provider, in cities like London where space is at a premium, you can make a good return on your basement space if you rent it in this manner.