Extend currently let large 3 bed to add a 1 bed unit

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    Extend currently let large 3 bed to add a 1 bed unit

    Has anyone any experience of this? I'm trying to think of ways to maximise income from this property. It is a large 3 bed semi with a side extension and a garage. Presently the side extension is not developed enough to be any use other than for a place to dry clothes and the garage is too thin to fit a modern car.

    I am thinking of extending a little more and renovating the existing side extension and garage into a 1 bed flat.
    This would be 4 rooms:
    Entrance/kitchen/bathroom 2.5mx5m (not sure how i would split this up presently)
    Bedroom: 2.5mx5m
    Living room: 3.5x5m.

    This is a total of 42m2 which is slightly smaller than the uk average for a 1 bed house (46m2).

    I think the conversion would likely cost about £15k (some parts done by me, some by trades). Likely income in the area is around 500/month. The house as a whole gets 800/month now.

    #2
    I would expect the building cost for a flat with 42m2 floor area = 500 sq ft at £100 /sq ft = £50,000.

    Your estimate £15K seems to be too low.

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