Ellen DeGeneres and Portia de Rossi’s move to England’s picturesque Cotswolds signals a shift in their real estate ventures. Known for flipping luxury homes across Southern California, the couple may find their hobby more challenging in the UK. High renovation costs, conservation restrictions, and strict planning regulations make flipping historic English estates less profitable. Add rising construction costs and increased taxes for second homes; the luxury property market clearly poses unique hurdles for aspiring flippers.
Gemma Maclaran, our Cotswolds advisor, shares her thoughts with Mansion Global: “There are a lot of tight and challenging obstacles in terms of the planning regulations, conservation restrictions and environmental restrictions, which make it harder for investors to kind of turn a profit.
“Buying English country homes and estates and flipping them for profit has become increasingly hard to do. In the country market, there’s been an increase in property prices and competition, as well as a sharp rise in renovation costs.
“[Construction costs] have nearly doubled since Covid [and] a good-quality renovation would now cost about £400 per square foot, when before you could’ve done it for £200. On the higher end, that can go up to £1,000 per square foot, so it’s definitely become more challenging.
For a better chance at successfully flipping an English country home, it’s better to look into up-and-coming areas and for homes: “Developers who can find gems of rundown properties in these kinds of areas—a dilapidated property that puts off most people—then there is the ability [to flip], especially if there are outbuildings that can be converted into entertaining or lifestyle spaces.”
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