I have a ground floor flat in Brixton. I'm looking into putting on a side extension in the back (kitchen area). I have a budget of 30k-50k...thinking it might be more like 50k as I would have to move the bathroom as well. This extension will mean the flat could be a 2 bed. Do you feel I'll make my money back on this extension if it makes the flat a two bed? Is this a good investment?
If you want to improve the flat for you to live in then go for it. If you're just doing it to make a profit then no-one can tell you if that will happen, especially at the moment.
Is the area where you want to put the extension already included in your lease? If not you will need to get the lease amended.
Even if you have that as a garden area which is exclusively yours, then most leases of flats require consent from the landlord/freeholder and he could well charge a substantial sum either to amend the lease or to give a consent for the alterations under the lease. So watch out!
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