Homeowners beware of large extensions
Extending your property is often a far more financially beneficial way to gain extra living space without the expense, and trauma, of moving. Whilst ‘don’t move, improve’ is still a sound property mantra, as home-owners don’t then face legal or estate agency fees, it’s important to be aware of the Community Infrastructure Levy (CIL).
Building an extension of 100 square metres or more can add tens of thousands of pounds to the cost due to the CIL, which is a relatively new planning tax that has been introduced by many councils, including Huntingdonshire District Council.
Steve Thorogood, Managing Director of Admiral Homespace, cautions, “Although this levy is relatively little known, it can make a significant financial difference to a proposed large extension. Whilst there are not many built to such a large remit, property owners should be aware of the costings impact.”
Steve Ingram, Head of Planning at Huntingdonshire District Council explained, “Since May 2012, HDC has charged the Community Infrastructure Levy. It is mainly applicable to new developments within the Council area but also applies to proposed improvements to existing properties that are not changing their use and are looking to extend by over 100m2.”
Extending property, however small or large, is still a popular way to improve home living; Admiral Homespace can advise prospective clients on all requirements to ensure a successful and stress-free outcome.
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Published January 23, 2013