Property wishlist: What to buy with a budget of £50,000
PUBLISHED: 16:56 22 December 2015
We gave 12 property experts (an imaginary) £50,000 for Christmas and asked what in north London they'd invest it in. Unsurprisingly the dosh didn't go too far in this pricey part of the world, but home improvements and extensions were on the menu
Property PR, Deborah Battsek
With £50,000 to spend I would treat my home, a two-bedroom flat in Hampstead Village, to a significant facelift. I would upgrade the kitchen and bathroom and indulge in numerous accessories from random antique shops, as well as buying all new linen and towels from The White Company. And to finish off, I would buy the full range of scented candles from Jo Malone. Bliss...
Joseph Winter at Londonewcastle
I would do a loft extension on a prospective property, including the addition of a mansard to create a generous three-bedroom duplex flat. This is especially profitable in outer north London locations such as Finchley and Muswell Hill where the traditional Edwardian converted flat can be easily re-modelled for modern day family living or young professional flat shares. Whilst the average cost of an extension is £35,000 in London, an additional bedroom can increase the value of a property by an average of 10 per cent. In addition to this, adding an extra bathroom can add value to the sale price and substantially increase its rental appeal.
Chris Cooper, Benham & Reeves, Hampstead
A nice new orangery for my house, overlooking my lovely garden, with underfloor heating so that it can be used the whole year round.
Buying agent Henry Pryor
Since I couldn’t buy anything for twice the national average wage could I have this Fiat motor home, if it ever gets into production? This would enable me to live in the stunning countryside north of the M25 but commute in to Hampstead to buy more expensive properties for my clients.
Matt Gibberd, director of The Modern House
I’d put £50,000 towards the cost of a Modern pavilion I’m building at the bottom of my garden in Highgate.
Yonni Tahor, Benham & Reeves, West Hampstead
Home improvements including two new bathrooms with both boasting new, slick wetrooms and a freestanding bath, installation of Sonos speakers throughout and to finish it off, a 4K and OLED TV which will even make watching your own football team lose enjoyable. What dreams are made of!
Trevor Abrahmsohn, Glentree Estates
I would build a conservatory overlooking the garden that I could use in the summer and the winter and would be an attractive addition to the accommodation of my existing home.
Nick Collins, Hadleigh Residential
For £50,000 I’d buy a beach hut, or I’d put down a deposit on a buy to let property before the new Stamp Duty Land Tax comes in in April. It wouldn’t get you much in Belsize Park so I’d probably buy in East Finchley – it’s near a tube and represents good value, whilst still being relatively central and well connected.
Mark Sumray, Benham & Reeves, Highgate
A fabulous kitchen with all the high end appliances, ideal for entertaining.
Ricky Dengel, sales manager, Sandfords Primrose Hill
I would create a home cinema in my current home in Little Venice for the ultimate getaway for me and my family.
The Inhouse Way, Property PR agency
Boutique furnishing throughout the home using Graham & Green, located in Primrose Hill (Regent’s Park Road). In particular, their fabulous Antoinette bed to create a traditional provincial French design in the bedroom and their extra large silver chandelier in the entrance hallway for a stunning Deco-style impact.
Vivienne Harris of Heathgate
£50,000 isn’t going to get you an awful lot in this bit of London. With a deposit of that much money you’d still need a salary of £100,000. You might take the view that you’d improve rather than move and a kitchen is still a main selling point of a property so I’d remodernise my own house, not that it particularly needs it. I’d probably knock down the wall on the ground floor and change the kitchen.