Boomin has issued research done on its behalf into the value of spare rooms - and it’s made some eccentric comparisons with the figures thrown up.
The portal’s research, involving just over 1,000 respondents, found that 50 per cent have one spare room in their homes, with that space typically valued at £42,000.
The research says this is “the equivalent value of 1.3 Bitcoins.”
It also says that its calculation of the value of space under-used in homes in England runs to just over £791 billion - or, as Boomin puts it, ”more than the entire gross domestic product of Mexico and enough to purchaser 9,062,761 brand new Porsche 911s.”
In the press release accompanying the research, Boomin founders and chief executive Michael Bruce says: “Many of us have a spare room and during the pandemic, they’ve been used as home gyms, offices, art studios and more, as we’ve tried to maintain some sense of normality both professionally and personally.
“However, for many of us our spare room or rooms will generally sit untouched besides the odd visit from friends or family and they tend to double up as an overflow storage space for our old clothes, kids toys or other obsolete household items.
“This is quite amazing when you consider that this under-utilised space is worth over £40,000 per room and it certainly begs the question as to whether some homebuyers could save a considerable sum by being more realistic about how much space they actually need, compared to how much they would like.
“Alternatively, the government’s rent a room scheme provides the potential to generate some additional income from your spare room and you could earn up to £625 a month tax-free.”
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Ground-breaking, game-changing research.
Got to distract attention from the lack of real figures and progress somehow. Fluffy data like this seems to be the way they are doing that.
Perhaps if you have a spare room because your kids have left, the last thing you want is a stranger/lodger living in your house!
Having the flexibility for your friends/family /kids to come a stay whenever they want is also has a value.
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