A woman in the UK has found an innovative solution to the challenge of affording a home as a single, self-employed person. Isobel Perl, 28, is converting her parents' garden shed into a luxury one-bedroom house in St Albans, Hertfordshire. Unable to secure a mortgage, Isobel saw this as her only option and has spent £10,000 so far on the conversion. With just two months of work remaining, she estimates the finished property will be worth £450,000 and will have cost her a total of £25,000.
The Mortgage Challenge
Isobel, a former project manager at KPMG, found herself unable to get a mortgage despite earning £40,000 per year. A mortgage advisor informed her that she could only afford a one-bedroom flat or a garage. Faced with limited options, Isobel decided to convert the garden shed next to her parents' home into her own living space.
The Conversion Process
Isobel's parents had been using the shed as an office, but they decided to downsize their working hours, leaving half of the space unused. Isobel saw an opportunity to create her own home while remaining close to her family. With the help of her dad, who has taken on the DIY work, they have converted the downstairs into a kitchen and living area. The upstairs is still a work in progress and will eventually become an en-suite bedroom and walk-in wardrobe.
Affordability and Independence
For Isobel, the conversion offers a chance to regain her independence while staying connected to her parents. She is excited to take control over her life and no longer have to report her whereabouts all the time. With the project on track to be completed by October, Isobel is looking forward to enjoying her own space and the sense of accomplishment that comes with creating her dream home.
A Creative Housing Solution
Isobel's story highlights the challenges faced by single, self-employed individuals when it comes to affording a home. Her innovative solution of converting a garden shed into a luxury house demonstrates the creativity and determination necessary to overcome these obstacles. With the housing market becoming increasingly unaffordable for many, alternative solutions like Isobel's may become more common in the future.
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