Don't be fooled by the modest two bedroom property that Richard and Isabel have just bought on the outskirts of Chiswick, West London. They plan to double it in size to create an enormous, luxury family home. However they're not doing this by something as simple as a loft or side extension; they're excavating tons of earth from beneath the house to make a whole new lower ground floor.
In packed cities where space is at a premium, basement excavations are growing in popularity. They're an effective way to add serious square footage, but they're also very expensive and shouldn't be done unless you're sure you can see a return in the property. This particular basement dwarfs most seen commonly in the UK's densely populated cities.
Richard and Isabel bought the property for £395,000. They have an optimistic budget of £210,000 and they plan to sell for £900,000. That would make them a phenomenal £295,000 in profit.
The latest expert analysis of a housing market in turmoil
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