3
Mar
Moving costs 'leading to improvements'
High moving costs are meaning that homeowners may consider making
improvements to their existing properties instead, the Federation
of Master Builders has stated.
Because there is a general lack of confidence in the housing market
consumers are increasingly moving in this direction, claimed
director of external affairs at the organisation Brian Berry.
Increased moving costs have meant that the alternative is to
redevelop existing property, he added, elements such as stamp duty
and legal fees.
"Certainly where I live, garage conversions are very popular
because they give you that whole extra room on the ground floor,
and they're relatively easy to do," he commented.
He added that basement conversions are less popular because of the
price tag that comes with them, but that there is a trend for them
in central London.
Tens of thousands of pounds can be made via this method, he said,
no matter where the owner is in the country.
The Basement Company has stated recently that demand for such
conversions has trebled recently.