There is no denying that the property market is an often volatile and sometimes difficult place. This means that people are looking for all kind of solutions to how to get on the ladder, as well as how to get off it in terms of mortgage payments. But one option that canny homeowners are trying more and more is a solution to both of those problems, as they seek to pay off the mortgage or provide pension income for themselves with a radical home makeover by subdividing a property.
Tips for subdividing a property
In this case, clever planning and the services of an experienced builder can help you to decide how to go about subdividing a property to provide maximum space and optimum income. They should be able to let you know whether your four-bedroom townhouse can be turned into a three-bed with a studio or whether your three-bedroom terrace is large enough to carve out two sizeable flats.
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This is not an option for the faint-hearted, as there is a large amount of building work involved in any project where you decide to sell off space in return for financial security. But with a good builder and a well-organised project manager you can get a healthy return on the work you will need to have done. It may be worth speaking to an estate agent first in order to see what properties are in demand in the area, as well as what kind of work will give you the best return.
The very first thing you will need to think about is where exactly the dividing line goes and how much space you are willing to let go. You will then need to get drawings made of exactly how this will work so that you can submit plans to gain permission. You will also need to ensure that all of the work will comply with building regulations as far as things like fire safety and noise are concerned.
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If you are creating a new flat then you can also need NHBC certification and warranty which is required on all new dwellings if you intend to sell within 10 years. Depending on how you are dividing your home you may also need to apply for additional licences or permissions. This is especially relevant if you plan to turn a house into a house in multiple occupation (HMO) – what used to be known as bedsits.
The main jobs when splitting a home concern the routing of services such as water, gas and electricity and there may be a good deal of expenditure to make sure that these are correctly fitted. Obviously, you will be fitting a new kitchen and bathroom, which may need all of these services to be hooked up. There are also factors such as central heating and radiator positions to consider.
Elsewhere in the home, you can have partition walls installed or removed, staircases moved, doorways added or boarded over and new windows installed. This is especially relevant if you are converting a loft or basement during the build, as you may need extra light. If you are building a flat into a previously unused basement then there may be a good deal of damp prevention work to be done.
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Once the main body of work is complete, it’s time to call in the plasterers and decorators to finish. This can be an expensive part of the job, as plastering is a specialist job that is never cheap to do well.
Once you have hung the new entrance doors and fitted the doorbell, you need to think about final touches and details, not least registering the new address with the Post Office so that it appears in their postcode databases. You will also need to do the same with your local authority, as they will need to reassess the council tax on your home and charge it on the new address. The local council will also deal with registering the new address for electoral purposes.
Looking for tradesmen you can trust for a subdivision project? Post your job on Rated People and up to three tradesmen will get in touch to quote on your job. You’ll be able to view their individual profiles, complete with previous customer recommendations, to help you decide who to hire.