The Ultimate Guide on Property Extension in Surrey UK
If we look at the list of best countries in the world for education, healthcare, lifestyle, and safety, then there is no way that we do not find UK at one of the top spots. Having the world-famous royal family, rich history, and the world's 6th biggest economy, UK surely puts a very strong case for anyone looking forward to starting a joyous and prosperous life in the UK. Despite COVID-19, there are reports that the UK property market has recorded the fastest jump in prices over four years. Moreover, owing to the government initiatives to assist citizens in having a place to live, there are predictions that there will be about 100,000 extra home sales by early 2021. These statistics clearly define how welcoming and prospective is the UK's property market.
If you want to make a profit via purchasing and selling properties in the UK, then there is one great way to get high figures of profit in less time, i.e., property extension. Property extension might not be possible in overpopulated cities of the UK such as London, but there is one ideal place in the UK to earn a fortune via property extension, i.e., Surrey. Being close to London, Surrey offers a great deal of fortune for property extension. This guide is going to talk in-depth about property extension primarily focusing on Surrey and how you can turn your investment into a huge profit.Is Property Extension a Profitable Investment in the UK?
UK's property market is very prospective and thus offers great opportunities for profitability. However, the key to profitability comes with smart work and consistency. There are plenty of properties in the UK that are undervalued due to their current status. This means that since the time of those properties' construction, their design and amenities (garage, garden, and bedrooms) haven't been modified at par with modern needs. For example, consider a situation where a 4-bedroom house surrounded by a big front and back garden has been undervalued. Depending on the circumstances, house value can be increased manifold by employing an extension. Through extension, either the ground floor is expanded or both ground and first floors are made to expand, thereby increasing the number of bedrooms to six or eight big bedrooms along with improved layout. Consequently, the property price will automatically ramp up, as vacant space has been bought to better use while leaving enough space for front and back gardens. Taking this particular example into account, the property price will now nearly be double of initial value and all this via just one innovative employment, i.e., property extension. According to different estimates, a carefully done property extension can yield an increment of about 100% of the original property value within one year. Nevertheless, this proves how greater is the impact of extension on the price of the property, thereby making property extension a profitable investment in the UK.