profe ssional a dvice

25 Beautiful Homes - - PERIOD TERRACE -

‘if you don’t yet own the prop­erty you are look­ing to con­vert, see if you can make your pur­chase con­di­tional on ap­pro­pri­ate plan­ning per­mis­sion be­ing ob­tained.

Check out whether sim­i­lar con­ver­sions have been car­ried out in your area – you can look at suc­cess­ful plan­ning ap­pli­ca­tions on­line. Get up to speed on lo­cal plan­ning poli­cies, such as min­i­mum flat sizes.

the new flats will need to com­ply with strict build­ing reg­u­la­tions re­quire­ments, par­tic­u­larly sound­proof­ing and fire-safety mea­sures.

With any build­ing project, there is al­ways the pos­si­bil­ity for costs to over­run, so make sure you in­clude a de­cent con­tin­gency in your bud­get from the out­set and dis­cuss fund­ing op­tions with var­i­ous lenders.

each prop­erty will need its own gas, elec­tric­ity and wa­ter me­ters, so you will need to ar­range this with util­ity providers.

In­struct a prop­erty lawyer to draft leases for the new flats – typ­i­cally you would re­tain the free­hold of the prop­erty and the flat own­ers would be long lease­hold­ers. Ask them about any tax im­pli­ca­tions, too.’

Naomi ren­nard, head of mem­ber­ship, home­own­ers al­liance

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