/ Home & Energy

Would you buy a micro-home?

micro-home

In response to the housing crisis, developers in cities are buying empty office space and turning it into tiny flats. But would you be prepared to sacrifice space and buy micro-home for getting on the property ladder?

An Englishman’s home may be his castle, but for an ever-growing number of buyers, that may mean a property less than 37 square meters – or the size of a tube carriage.

Technically, properties should meet minimum space standards of 37 sqm for a one-bedroom home. But since the government relaxed planning regulations, developers in cities like Liverpool, Leicester, Oxford and Croydon have been buying up office space and converting it into many tiny flats.

Work place to living space

Only this week, housing developer U+I announced a range of homes with floor sizes of either 19 or 24 sqm, to be built in blocks with shared communal areas in nine inner London boroughs.

The developers say the flats would be available under the London Living Rent scheme, where tenants pay rent that is a third of the average household income for their borough. Fortunately for prospective buyers, these homes use space in a fairly intelligent way through compact kitchens, flexible furniture and clever storage solutions.

This property by Inspired Homes – which boasts a separate bedroom – has just 31.5 square metres of floor space:

Our research, published last month, found that 8,000 homes smaller than 37 sqm were built last year in the UK, the highest number on record. Meadow Residential, meanwhile, plans to convert an office block in Barnet, London, into flats – some of which are just 16 sqm in size.

However, our data also suggests they don’t grow in value like their larger counterparts, and might not necessarily make a sound investment.

Micro-home mortgages

One reason may be due to ‘mortgage-ability’: two of the country’s biggest high street lenders, RBS and Nationwide, said they wouldn’t lend on properties smaller than 30 sqm. Yet for many young people desperate to get on the housing ladder, a headache-inducing process in and of itself, they represent a more affordable option than regular-sized homes.

In 2016, properties smaller than 37 sqm cost just £279,000 in London, compared to the capital’s average price of £580,000.

What would be your top three considerations as a first time buyer?

Price (24%, 314 Votes)

Area (21%, 266 Votes)

Distance from work (13%, 163 Votes)

Mortgage (9%, 121 Votes)

Deposit (7%, 95 Votes)

Local amenities (7%, 93 Votes)

Space (6%, 80 Votes)

Distance from family (5%, 67 Votes)

Cost of utilities (4%, 52 Votes)

School catchment areas (3%, 38 Votes)

Total Voters: 446

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Would you be prepared to sacrifice space to own a home close to the centre of the UK’s largest cities? Or are you put off by the prospect of a fold-up bed? Let us know your thoughts.

Comments
Member

I’m all for small spaces for three reasons: 1) I love the city and will try my hardest not to be booted out by prices, 2) I enjoy living in a minimalist kind of way (just don;t take away my TV or PlayStation, and 3) the idea of intelligent, space saving furniture really interests me. ‘Look it’s a table! Now look, it’s a bed!! And now it’s a hot tub!!!’

Member

Space is important. Ask the chickens in the battery farm. Prisoners have cells to punish them. To coop people up in small boxes is anti-social in all sorts of ways and is not good for mental welfare either. Developers are simply using the spaces to make more money per square foot and it has little to do with solving the housing crisis. They might have a point as a mini bedroom for the working week, but as a place to settle down and be comfortable in, they are a non starter home.

Member

If these micro-homes are re-saleable and increase in value they are one way to avoid rent and get onto the housing ladder. Let’s hope they go to genuine buyers, and not landlords to make large profits, nor those with homes elsewhere who want a city pad for occasional, or weekday use.

Member

When at school it was my ambition not to live near city centres because I was affected by atmospheric pollution. In my view it is nicer to live in an area with a lower population density, cheaper housing, easy parking and freedom from traffic jams. 🙂 Pity about the lack of buses and local facilities. 🙁

I did once have a flat with a decent sized lounge and bedroom, but the kitchen was tiny and I hated it.

It seems that we are moving towards living in dolls’ houses in the UK: https://www.theguardian.com/money/2017/feb/11/welcome-rabbit-hutch-britain-land-ever-shrinking-home Denmark looks good.

Member

Office blocks in large cities get demolished , watched it happen again and again , especially in London where either a new glossy office high rise appears or as has happened there many times the council tenants are turfed out to make way for “city gents ” to buy luxury living style flats at £! million or more each. As regards this convo the Japanese started all this a long time ago , buy a closet ( prison cell size ) and live in it. Also its now a “big thing ” in the USA where micro homes are springing up everywhere but then taken to court by every business connected with making money out of supplying utilities and other services even if it is miles from a town or city . Have any of you checked into the highly restrictive laws in the USA aimed against US citizen so that profit can be made out of every citizen – ie- collecting and using RAIN WATER is illegal and I can list many more, including taking your OWN land away from you if you dont use it to their rules –it just goes on. Want to know the biggest resurgent type of “home” that in the 50,s 60,s made an appearance and the companies building them thought their company was going bankrupt and now they are expanding at a great rate ??? very large –NUKE shelters – expensive but get your shares in it now .

Member

Duncan: please check your facts. Collecting and using rainwater in the USA is not illegal. Because of a variety of factors, including population growth and weather changes, a small number of states have brought in restrictions on how much you can harvest and use but it is not illegal in most states to collect and use as much as you want.

And this has nothing to do with profit: it has to do with long-term sustainability. The full details are here

Member

I have checked my facts Ian . In -2012 a 64 year cold man Gary Harrinton was SENTENCED to 30 days in jail in Oregon –9 nStates have laws restricting the collection of rainwater .In Western USA any use of rainwater is subject to legal restriction. Water has become big business , its one of the fastest growing industries in the world , Americans spend $billions each year on bottled water + billions for government (US ) use , its now oneof the most politicized resources in the world . THe amount a household can collect is a FRACTION of what an average family of 4 need , in the USA its 12,000 gallons /MONTH ! ( dated November -2016 ). How many US prosecutions do you want Ian ? Also taken from another US website our freedoms are being eroded as the nation turns from “Land of the Free ” into “Land of the Enslaved ” – Utah, WAshinton + Colorado have clong outlawed individuals from collecting rainwater on their OWN property because (they say )mit belongs to someone else Mark Millar of Mark MIllar Toyota buiklt va dam to collect RAINWATER to use for his business in Utah –he was prosecuted . Legally in Utah YOU dont own the rainwater that falls on your roof . Thats the law there . I do agree its not universal in the USA but I have cases of bIg bottled water USA using up small townships water for PROFIT , thats what happened in that case of water pollution with chemicals that hit the headlines when the council used a polluted source to supply the town because they were getting big back -handers from the bottled water company . Ian I have a large amount of data of info on this supplied by many radical US organizations of which I am a member.

Member

🙂 You forgot to mention that Gary Hamilton’s ‘collection’ amounted to 13 million gallons, Duncan. That’s a tad more than a few barrels. It’s a dam full. In this country you would need to have a permit to ‘collect’ that amount, or anything close. He was sentenced because he hadn’t bothered getting a permit.

And the average monthly household water use for a family of 4 in the UK is slightly below 4000 gallons, so the US level of 12000 gallons per month is very generous.

And you’re even wrong about Utah: “Many people still believe that rainwater harvesting is illegal, but this is a myth. On May 11, 2010, Senate Bill 322 went into effect which allowed for legal harvesting of rainwater in Utah. This law was partially amended in 2013 with House Bill 363 effective May 14, 2013 to help simplify the regulations.”

Duncan, you need to be far more cynical about what these sites are telling you.