#basement extensions

An example of a mid-sized contemporary partial sun backyard stone formal garden with a fireplace in summer.

New Post has been published on http://www.landmass.co.uk/blog/does-a-basement-add-value/

Does A Basement Add Value?

Basement extensions have inherently brought inconsistency in household values. There is widespread evidence to suggest they are invariably advantageous for homeowners as they can add, as an estimate, between 10 to 15 per cent to the price of a property. Furthermore, the potential to create high quality spaces underneath your home can hasten the selling process of the property as buyers will always pay premiums where spaces is maximised, rather than wasted.

London Basement Extensions

Conversely, some basement extensions cause severe detractions from a property’s worth due to the subterranean room’s common characteristic of appearing vast, making the rest of the house appear inadequate in comparison. The addition of a basement can in fact create homes where there is actually more space below ground level than above ground. Where natural light can be introduced, an additional floor down can add to the feeling of spaciousness. Any further underground space and there is always the risk of having a bunker feeling.

Currently under construction, 76 Ladbroke Grove is one example of this 21st century subterranean living. In the heart of Notting Hill, it will benefit from a double basement with 4 bedrooms, gym and media room. The home is owned designed by Landmass. Upon completion, a sales agent will be appointment where a Guide Price of in the region of £6m can be expected.

Landmass CGI – Ladbroke Grove

An example of value detraction can be attributed to a five-bedroom house in Kensington spanning at 6,543 sq ft with four floors above ground and four subterranean levels. The house was originally priced at £16.35m but after two years on the market, the property only sold for £11m. The real value lies in increasing the above ground living space. When digging down, ensuring the space is both functional and practical is imperative.

Potential house developers may also want to consider the paradox that a property may be considered more valuable when it has potential for a basement extension to be constructed due to investors’ opportunity to ‘add value’ in the future. Therefore, once a basement has been constructed, the property may not sell at its highest possible price as the potential for future conversion has been lost.

Over the last 16 years, we have designed and developed over 50 London properties, the latest of which is a Belgravia Mews House short listed for Best Residential Property 2014.

Grosvenor Crescent Mews Basement Conversion

We invite private commissions from end users and investors wanting to produce the most prised configuration of their property, complimented by timeless interiors and beautiful features.

Designing and refurbishing a property is a labyrinth for clients and we want to make it simple for them. Acting on behalf clients, we ensure that they are protected both financially and contractually along with every project being procured and managed expertly.

Every design we do, we look to provide a truly unique space. We believe in thinking differently; we do this by making the process and results for the client smooth, creative, efficient, and beyond their expectations. We believe that our clients don’t just buy what we do; they buy why we do it.

www.landmass.co.uk

Contact Us – 0207 439 8095 – Visit Us 48 Beak Street, Soho, London, W1F 9RLW1F 9RL

Do you have that special dream for your basement? Are you like many who often fantasise about the ultimate games room or pub style surroundings? You’re not alone! The fact is, in the UK anyway, basement extensions are getting even more popular year after year. I mean, really think about it, you’ve got all this ample space for storage and whatever else just settling below; why not make it your very own?

This isn’t a bad news post or any sort of discouraging words to make you shy away from the ultimate games and pub room – it’s just a bit of a warning post to make sure you are prepared for the worst.

Conversion Insurance is your friend

House insurance, fire insurance and content insurance are all things you’ve no doubt considered and jotted down. But, do you know about conversion insurance? Or even barn conversion insurance? Any sort of construction you are planning to do around your home, property and yes, even your barn should be insured with a 10 year structural defects insurance policy – the reasons are plentiful, but they’re all good…we promise.

However, this post is about ample warning before you venture below to put up the dart boards and set up the snooker table. Basement extensions can be very problematic, and the most common problem is water ingress and damp. When these elements decide to go wrong during the construction of your basement extension, it can be very costly – you’re not alone though…supermodel Kate Moss and her neighbours found out the hard-way.

If you don’t know, the Witanhurst Mansion is the second largest house in London after Buckingham Palace; and it has been undergoing restoration with a £50M underground basement extension plan since 2010.

Kate Moss and other residents in the surrounding Highgate area of London reportedly suffered flooding of their basements which is thought to be related to works being done in the nearby Witanhurst Mansion.

When the extension was finally completed last year, the flooding miraculously stopped bothering the neighbours; this implies the initial cause was in fact the Witanhurst Mansion.

However, more work is due to start on Witanhurst Mansion to construct an underground link between staff quarters beneath the main house and the gatehouse off Highgate West Hill, causing the neighbours to be concerned that the damp and flooding problems will reoccur.

Camden Council say that said anyone applying to develop homes underground must provide a Basement Impact Assessment detailing the effect of the work and identifying any issues related to surface flows and flooding as a result of additional basement works.

Source: Sweet House Decorating