Is it worth extending a basement?

[George79]

I see a lot of people who update homes with the expansion of a larger basement with a walk-out area or a egress window. This allows the home owners to have a livable area in a place most will under-use. What are your thoughts on expanding and investing in a basement?

 

[Nicholas Wallwork]

I personally think it depends on the location (i.e. price of land) and how the basement is configured before you start work...

- If the basement is not deep enough and doesn't have natural light the excavation work can cost a small fortune. This then only becomes viable if you're in an expensive area (e.g. London). You need to weigh up the value in your area vs the cost of works.

- If the basement IS deep enough and provides for enough head height and natural light then dry lining shouldn't cost the earth and would be a very worthwhile investment in any location & is far easier and less disruptive (especially to the neighbors) than building an extension...

Remember any excavation usually requires planning permission so check with your local authority before you start work. If you need planning then ensure this is agreed, it's not usually a difficult process and the value this extra room(s) will add to your property will be worth it.

 

[KGeeson]

Don't you have to 'tank out' a basement to stop i becoming damp (which i believe is very expensive),or is that not always the case?

 

[Cowell]

I don't know if a person would have to, but why wouldn't they want to?

I have always thought that the cost versus value equation on this type of expansion project would always tilt too heavily on the cost side. I guess I just don't see the value of extending a basement.

 

[Nicholas Wallwork]

Don't you have to 'tank out' a basement to stop i becoming damp (which i believe is very expensive),or is that not always the case?

Almost always the case yes... As you'll get rising damp and damp through any sub-terrainian walls...

 

[Nicholas Wallwork]

I don't know if a person would have to, but why wouldn't they want to?

I have always thought that the cost versus value equation on this type of expansion project would always tilt too heavily on the cost side. I guess I just don't see the value of extending a basement.

The value will depend on the location and hence price of land... In London they are digging several stories down now as the price of land is so expensive! It adds far more value than the cost of conversion so it makes seems there... Not in many areas though...

 

[Luke Masters]

I think this kind of development can be very beneficial, however I do believe that it largely depends on the location of the property as to the benefit you will see from this..

 

[Michelle Barringer]

i would suggest that it depends on the property and your long terms plans - for example in and HMO that you plan to retain you would need to work out the rental income vs cost and see how long it will take to pay for itself and similarly if you were going to split it off to make a separate apartment then the cost would need to be outweighed by the return. If it is just going to add more space to a home then the question would be if you value the space enough to pay the price (as well as what additional value it would add) i think each case has to be taken on individual merit