More and more people are considering converting their houses into flats. Whether it is simple bedsitters or two-room houses, apartments can create an additional income stream when rented out to other people.
It is more profitable than renting out a single home. But what does the conversion to flats entail? Before you convert a house to flats, you may want to consider a few things.
Firstly, you should research the market to know the types of flats people are looking for. Part of the information you might be interested in is the kind of demand existing in your locality.
In your quest for information, you may want to involve expert builders, who know a lot about the conversion of house to flats.
Secondly, check the building regulations that apply to the project at hand. Do you require to ask for permission from the local authorities? Specific neighborhoods may have different requirements concerning house sizes.
If the size is restricted to a bungalow, you might not be able to get the permission you need. Lastly, find out the types of taxes you will have to pay to convert your house into flats.
If you plan to sell the apartments, you will have to pay taxes. When renting it out, land rates may apply. However, if you choose to live in one flat and rent out the others, the local authority might require you to ask for certain exemptions.
How Much To Convert a House To Flats
The cost of converting a house to a flat will be different from one project to another. It will all depend on the house design, condition, size, and the number of units you intend to put up.
On average, the cost will range between R8,000 and R10,000 per square meter. That will take care of the work that goes into installing walls, bathrooms, and HVAC systems.
How to Convert My House to Flats
You have just bought a house, and you want to convert it into flats – how do you go about it? After speaking with the local authorities to establish the kind of permissions you need, there are several things you must do. They include the following:
1. Consult the Service Providers
If you are wondering how to convert your house into two flats, first, you should know that each unit will require connections to various utilities. For instance, you will need water, electricity, and gas connection.
That’s why you must liaise with the service providers to make the connections for you. The earlier you do it, the better for your project.
2. Come Up With a Layout Plan
If you are converting a house to two flats, you should come up with a layout for each one of them. You may have to come up with the position for the entrance in each unit.
Follow it up by establishing where the bathroom and kitchen will be in each apartment. The layout should be such that you can easily access the existing plumbing and drainage systems in the case of the kitchen and bathroom.
3. Budgeting
It is no secret that converting one house into two flats will cost you money. Work with an expert builder to come up with a realistic estimate of the cost. Since you will be installing kitchens and bathrooms, set your budget high enough to cover everything you need.
The purpose of establishing a budget is to enable you to source the right the finances you need in advance. You can also plan for contingencies and other unexpected happenings.
4. Find the Right Contractor
Most likely, you are going to work with the contractor who helped you come up with estimates of the construction costs. If you are converting a house into 3 or 4 flats with the help of a different contractor, why not?
You must ensure it is a company you can trust to deliver a great job. Spell out your expectations so that the project kicks off on the right note.
Converting Flats Back Into a House
So, you have two flats that you need to turn into a house? Just like the case where you are converting a house to flats, you will require consent from the local authorities.
But first, you must check if any title restrictions might prevent you from going ahead with the project. If there are two leases on the house, you may want to turn them into one.
Then talk with a contractor to find out the cost of converting two flats into one house. You may have to pay for the work per square meter.
So what do you need us to do for you? Is it converting a house two flats or vice versa? We have the experience and expertise to turn any project into precisely what you want. So, talk to us today!
