With so many different ways to extend your home, it can be difficult to choose between a house extension and a conversion of an existing area of your property. If you choose to convert your loft or basement you will need to make sure that the job will actually add value to your home. In London all conversions will add value to your home, but in rural areas, things aren’t so clean cut. In this article we are going to look at cost of basement conversion for your Bristol home, taking care to look at all the different eventualities that exist.
Cost of Basement Conversion : Is it Worth It?
The cost of basement conversion depends on a lot of factors. A basement conversion is not cheap, but it is an excellent way to increase the living space in your home when you can’t build upwards or outwards. But, the cost of your project will depend on many factors. Do you have a basement already that is simply not in use, or will one need to be excavated? As you can see here, the cost of basement conversion for these two sets of circumstances will vary greatly.
Converting your basement or indeed your loft or garage is a worthwhile project if you don’t want to move home but need more room. Depending on whereabouts you live in Bristol, upsizing can be a costly business, and of course you may simply not want to move house. If you live in the city as opposed to the suburbs, a house extension will probably be out of the question. So, the best options you have are a basement or loft conversion.
Factors to Consider When Pricing Up Your Basement Conversion
As we mentioned above, the cost of basement conversion can vary a great deal from one property to the next. If you are lucky enough to already have a cellar, then no constructional work will be necessary. This will keep the cost down a lot. But, once you need to lower floors to increase head heights, the price will start to escalate. If you don’t have a basement at all, then you will need to pay for an excavation. This is an expensive and lengthy process, and may not even be a viable option for your home.
This type of conversion will include tanking and damp proofing, rerouting drains and sewers, and the underpinning of walls. If you live in an area where the water table is high, you may like to reconsider, opting for a loft conversion instead. Excavating a brand new cellar can cost up to 4K per square metre.
Uses for your Basement
When adding up the cost of your basement conversion, you also need to consider what your added space will be used for. Home gyms and media rooms are great uses for a basement. But when you need extra living space, you will need to consider lighting. A bedroom in the cellar with no natural light is not a good idea; an underground swimming pool however is an excellent but expensive use for your new cellar.
When planning your basement conversion, there will always be some additional costs that you weren’t expecting. Bristol Builders Network can ensure that you are not met by these costs by putting you in touch with a team of builders who will work with you from the initial planning stages to the finishing touches. Additional extras you may not have thought about can include planning applications and party wall agreements. You may also be required by law to provide an external access route to your basement.
Approximate Costs
Each and every basement conversion is different, but in general you can expect to pay between 750 and 1400 pounds per square metre to convert an existing cellar. If you need to lower the floor level, this can cost up to 2K per square metre. Digging and underpinning a brand new basement can cost up to 3K per metre squared. This cost will be lowered to a maximum of 2K if the basement will be dug underneath your existing garden space.
An external access or light well for your basement will cost at least 5000 pounds. You may also need to pay fees for engineers, planning applications, and building regulations applications. The price for the latter of these will vary depending on the work that will be carried out. A party wall act will cost around 700 pounds, per neighbour. If you live in a terraced home you will need to account for 2 part wall acts. Lastly, don’t forget about VAT on building work that is charged at 20%.