Improving or installing a basement can increase the value of a property, it has been claimed.

The news could be welcomed by anyone looking to elevate the price of their house in order to raise the value of any homeowner loan which may be secured against it.

Alan Tovey, director of the Basement Information Centre, explains that there are a number of ways in which an underground extension may be added to a house.

This includes converting an existing cellar - which may involve lowering the floor, he reveals.

But an alternative is to install a new basement underneath a property's garden, he suggests.

And while making a basement habitable can raise the value of a property, it is unlikely to have a direct effect on home insurance premiums.

Mr Tovey argues that "all you're doing is increasing the headroom - you're not actually increasing the floor area".

This could be a welcome proposal to anyone looking to increase the maximum homeowner loan they can access without incurring long-term elevations in costs.ADNFCR-1287-ID-18375832-ADNFCR

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