Dig for Victory! How Basements Boost Prime Property Marketing
So, you’ve bought a home in an exclusive area of London, and are enjoying all the associated benefits from education to infrastructure, but the space the house offers falls short of your family’s needs – what can you do?
For those in prime property areas, it seems the solution lies beneath. London is the epicentre of a basement boom with more and more homeowners looking downwards for the solution.
According to luxury lifestyle media brand Spears, the creation of so-called “iceberg houses” is a great way for the wealthy to add both space and appeal to their London homes.
Upmarket Areas See Increase in Iceberg Houses
Named for the fact that large portions of them lay beneath the surface, iceberg houses are often found in upmarket areas, where owners reluctant to give up their perfect postcode have instead chosen to extend under and out in order to create a range of facilities – from family areas, to pools, gyms and even cinemas.
These underground additions can really add to the appeal and help property marketing in a prime area, but they come with a hefty price tag attached – the digging alone costs around £3,000 per square metre of created space and that is before the fitting and finishing is carried out to the expected standards.
Basements Best Used for Prime Property Marketing
However, the idea comes with a caveat, since attempting to boost value and property marketing appeal with an added basement in other non-prime areas may leave owners seriously out of pocket and stuck with a home that is not in keeping with the expectations of their area.