Most people probably haven’t considered living in a business building. However, it may appear to be a desirable and less expensive option since renting and selling housing is often out of reach for many.
Because they often have large open areas that can be molded into almost any shape or size, commercial buildings can have an attractive appearance. Many also feature unusual design elements and lots of natural light. Suppose you are looking for Commercial property for sale in Sudbury hills. In this case, you can contact a professional property agent, as many commercial and office buildings are currently empty due to the pandemic.
Is it possible to live in an empty commercial building?
Unfortunately, you can’t simply choose to move into a property with business status. This is mainly because required construction insurance does not cover people living there for commercial properties. Moving into commercial property without commercial insurance is against the law, and if you are caught, you may face penalties.
What if you want to live in a commercial building?
Living in an abandoned place is doable if you’ve seen a place you like. You must apply to convert the building from commercial to residential use. If you want to do so, think about the type of building you’re looking for; for example, you may need help getting an insurance company to change the status of a service office located within a large block. You could stand a better chance if it’s a simple shop space that’s already occupied and located in the neighborhood.
How can I turn a commercial space into a living space?
To convert your area into adequate housing, you will need local council approval for the conversion. The council’s local planning authority (LPA) will then decide whether to accept or reject your application. Land valuations can also help you determine the exact value of any adjacent business properties.
How much does it cost to apply for a change of use?
The costs involved in changing the use of a property vary, but in some placeslike London, maybe over £500. If there are other similar successful petitions in the area, your LPA will likely give you approval. However, this is not the only cost; You may also have to pay an architect to come up with the idea, and if accepted, you’ll also have to pay for the conversion.
What are the chances that the application will be accepted?
You can view past records and even perform street-specific searches on your board site. The closer you comply with commercial applications for housing that have been successful on your street or neighborhood, the better your chances.
Can you enter a commercial property using permitted development rights?
In rare circumstances, you may convert your business property into a residence without obtaining planning approval. Several types of commercial buildings can be changed without permission, because they have the status of a Development Permit (PDR). Light industrial properties, some office buildings, and retail properties are some of the assets that can implement PDR. The total floor area should often be at most 150 square meters.
Even if you don’t need planning approval, you may still need to follow a few rules when converting a PDR structure. It is important to limit the number of windows in your design, and the privacy of nearby buildings must also be considered. If you’re unsure, it’s always best to talk to your local council and planning department. They often advise on the types of designs and modifications most likely to accept, saving you time and money.
Is it a good idea to live in a commercial building?
The answer to this question is based on the specific structure of the problem and your desired outcome. In conclusion, renting business property may not be as cheap as it seems at first. Conversions can be more expensive.
However, turning a unique structure into a home may be a fantastic option for people looking for a more unconventional lifestyle and a more distinctive location. If you’re considering converting a business facility to a different use, research it, talk to as many people as you can, then decide.