Housing "crisis" idea

[RobM]

Apparently some 25% of adults live alone. I imagine a significant proportion live in a house (as opposed to a flat). So how about this... a grant from central funds to convert your house into two flats (e.g. a downstairs shower room/toilet/basin. an upstairs kitchen/ette) and planning permission specially relaxed to allow this to happen? When the new flat is sold, repay the grant which would effectively be an interest free loan secured on the "new" flat, the house owner pockets the rest.

Looking at my place, it could be possible.

Would you be prepared to sell half your house, as it were?

 

[MK Shrimper]

If I was a single man then not a chance. Lived in flats, never again.

 

[Jam_Man]

Havent you just explained what happened to Westcliff?

 

[Pubey]

Apparently some 25% of adults live alone. I imagine a significant proportion live in a house (as opposed to a flat). So how about this... a grant from central funds to convert your house into two flats (e.g. a downstairs shower room/toilet/basin. an upstairs kitchen/ette) and planning permission specially relaxed to allow this to happen? When the new flat is sold, repay the grant which would effectively be an interest free loan secured on the "new" flat, the house owner pockets the rest.

Looking at my place, it could be possible.

Would you be prepared to sell half your house, as it were?

As you say, houses are in demand and so why would you basically sell your attractive house to gain two flats/release some equity.

My guess is that only a very small proportion of that 25% would have a home suitable for that kind of conversion (you're looking at a 3 up/3 down and even then you'll only end up with 2 very small flats). Even on my own I wouldn't live in a 1 bed flat.

Building regs require fire escapes and things which mean that converting a house into flats is probably a nightmare that even with an interest free loan isn't going to add any significant value.

 

[RobM]

I imagine someone in big debt might consider it.

 

[Pubey]

I imagine someone in big debt might consider it.

or just sell the house and move into a flat?

 

[RobM]

OK house round here £180,000
Flat 2 beds £165,000

Some people may not want to move home.