You could be sitting on £136,211.50 and you don’t even know it!
Do you have a spare bedroom that goes unused? En-suites or multiple bathrooms that are being wasted, or a dining room with a table that has never been sat at?
Well that space is valued at nearly £140,000 in London.Ironmongery Direct have recently launched ‘Unused Britain’ – research calculating how much unused space is wasted within homes across the UK. The quiz has been gathering user data from all regions on what type of house participants live in, how many rooms are going to waste and the estimated size of that room. These factors are used to calculate the average value of the unused space within their home.
The data shows that on average each household in London has 1.5 rooms spare and as each sq ft in London is worth a huge £668.13 – unused and wasted space in the region totals £136,211.50 per house.
Do you live in an end terraced house? Well, it seems to be those that do that have the most rooms going to waste. On average, 2.1 rooms are going to waste within end-terraced houses. However, the value wasted is a lot less than those that live in a detached home. Detached houses have an average of 1.7 unused rooms across UK, however due to the increase in size the value of wasted space is at £94,713.24. Nearly £100,000 worth of house is going wasted within detached homes in Britain.
Unsurprisingly, it is London that has the most amount of wasted space in value and Scotland was found to have the least unused space per household, at a value of £33,201.03. In comparison to London, that’s worth £103,076.47 less of wasted space.
The value of wasted space is based on house price value per square foot. Of course, house values vary across different regions. House prices in London are unsurprisingly the most expensive so it was a given that the capital would have the highest amount of wasted space in value per home.