The ‘Hoo Ha’ About Basements

 

The ‘Hoo Ha’ About Basements

I simply cannot understand how anyone could object to a property owner who wants to build a basement in their home.  If the work is carried out correctly it doesn’t in anyway affect the conservation area, it provides quiet and discreet enjoyment that helps to boost the construction industry and is a ‘no brainer’.

Where land in the capital is so expensive I can’t think of a better way to invest £300 per sq ft (which is the average cost of such a basement) that, if correctly carried out, could be sold, on average, for between £600 per sq ft – £5000 per sq ft. if the owner so wished.

As far as the noise is concerned, although initially there is a lot of rubble to remove (unless you can persuade the adjoining owners to have rockeries!)  most of the work takes place quietly without dust or disturbance.  If the foundations are properly protected there should be no effect on the structure of adjoining properties and is cleaner and more efficient than any other form of building work.

Neighbours should encourage this type of development since it increases the headline prices for the road that can only have a positive effect on adjoining properties.

With Stamp Duty rising on more expensive properties the transaction costs of moving can now be somewhere up to 10% of the purchase price and therefore if householders wanting extra space resort to building basements this is a far more financially efficient method than moving home.