MenuSearch

Downstairs Bedrooms On The Up…

July 2nd 2014
By: Melanie

Rising costs of homes in the UK has resulted in a shift in the way we live, the average cost of a house in the UK now stands at £260,000, ten times the price of an average salary, resulting in us creating ways in which to live within constraints of an expensive property market.

The average age of a first time buyer currently stands at age 36, creating a new wave of parents needing to do home conversions to their houses to accommodate not only their grown up children but also elderly relatives.  
 
New figures from Church Hill home insurance reveal that more than 1 in 10 house owners are creating a downstairs bedroom to enable them to expand their home’s capacity. They are considering this for several reasons; it’s less expensive than creating a loft extension, extension or sub terrain room, and is also cheaper than moving. This new ground floor bedroom can then be used to accommodate grown up children (13% of those surveyed), elderly parents (1/10), guests or can generate valuable rental income (1/4 of those questioned).

Martin Scott, head of Churchill home insurance told The Independent: 'Putting in a downstairs bedroom can be a very practical solution for homeowners, whether they may be finding space for a growing child, helping to care for elderly relatives or making visiting friends feel more comfortable,'

'The cost of converting a downstairs room is likely to be significantly less than moving home, so whilst high property prices continue to be an issue, homeowners are making sensible changes to what they already own.'

If you are thinking about creating extra space in your home and would like some advice on the best way you can increase your properties value then why not pop into your local branch of Intercounty for a chat and a coffee or call our team on…
 
Source: The Independent