3 Mar

Moving costs 'leading to improvements'

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.ADNFCR-1222-ID-18492248-ADNFCR

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