This tiny house in Chelsea has gone on sale at £600,000
It's being called the smallest house in London, but it sure packs a high price tag. This tiny house in Chelsea has gone on sale for £600,000 for anyone looking to buy a home in that area. That's pretty steep for any house, let alone the smallest on in all of London, but there are people who would be happy to pay that much just to live in a quaint home in one of the most affluent areas of the city. Though Chelsea used to be a hub for bohemian types at one point, not much of that lingers in the neighborhood these days. Many famous people have lived in Chelsea throughout history like Agatha Christie, Eric Clapton, and T.S Elliot. Once home to the "Swinging Sixties" and artists like The Beatles and members of The Rolling Stones, Chelsea was a place to be until the late 70s when most of the artistic people moved on to Notting Hill and Camden Town where you can still see a bit more of the bohemian vibe from that time. King's Road is the main street through the area and is home to designer stores like Louis Vuitton, Dior, Prada, Chanel, and Giorgio Armani. Kind of like a London version of Rodeo Drive in Los Angeles.
The average house price in Chelsea is around £6,637,190 for a semi-detached household or £4,160,709 for a home with a terrace. The price of an average apartment would be around £1,358,247 according to the Right Move website. So when people looking to buy a home in Chelsea see this one for £600,000, it will seem affordable in contrast to some of the other properties in the area. The floor plan of this sweet home is only 290 square feet in total making it more the size of a tiny house on wheels. It hasn't been on the market for 50 years, so as you may notice in the photos, it will need a little bit of attention and care. After renovations and improvements are done, the house could be sold again for closer to £1,000,000. So for someone who enjoys flipping houses and has the funds available, this would be an amazing project to take on. When you see the interior photos, you may have a hard time believing that anyone would buy a house for £600,000 which is around $753,090 US. The walls are majorly scuffed up; the kitchen looks like it's seen better days and the bedroom is awfully small. But for the right buyer, this home would be a blank canvas to work with and transform into something amazing. It is quite charming in a way when you see past all of this, and it does have an excellent floor plan for anyone wanting to live smaller.
When it comes to home buying, buying smaller is sometimes a great idea when you're looking to save money. In this case, you might want to look in another neighborhood to keep costs lower because something of the same size could be less than half the price of this small home. In North America, it's quite common to find similar sized apartments priced about the same when they're located in major cities like New York City or Los Angeles. If these prices are too steep for your liking and living in the city isn't crucial for you, look in surrounding areas where homes could be more affordably priced. But if you're absolutely in love with the idea of living in a certain neighborhood, you can always try renting there for a few years to see if you really like it before investing a ton of money into a permanent residence.***
Learn MORE at CITY AM