Churchill Home Insurance has reported in their research that 11% of British homeowners have created or planned to create a ground floor bedroom in their properties.
Only 21% of estate agents believe that adding a bedroom on the ground floor increases the value of the property, while the majority identify the main effect as an increase in the potential rental income – such a change would bring an average increase of 16% in rental income.
However, only 23% of homeowners swapping living space for extra bedrooms say they do it for financial reasons. Most of them are, in fact, creating extra bedrooms for their grown-up children or their elderly relatives.
With young people being unable to afford the purchase of their own homes, and with elderly people being unable to live alone, the so-called ‘sandwich generation’ are ready to open their doors to grown-up children or grandparents after converting their ground floor living space into extra bedrooms.
Martin Scott, head of Churchill Home Insurance, said: “The cost of converting a downstairs room is likely to be significantly less than moving home, so while high property prices continue to be an issue, homeowners are making sensible changes to what they already own.”
Moreover, requests for houses with two front doors are also increasing, according to the National House Building Council. Such houses would allow families to live with their grandparents or grown-up children, and yet have some privacy by keeping their spaces separated.
In light of this, contractors should be prepared and ready to satisfy homeowners with their increasing demand for extra sleeping space on their ground floors. Arthur, the best online property management software, can release contractors from the stress of minute details and help them focus their energy on satisfying the demand.
Arthur can help contractors get more work, stay organised and communicate easily with the homeowner, the property manager or anyone else involved in the process.
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