Boomin compares room values with Bitcoin and Porsche…
Boomin published research done on his behalf on the value of guest rooms – and he made some eccentric comparisons with the numbers put forward.
The Portal’s research, involving just over 1,000 respondents, found that 50% had a spare room in their home, with that space typically valued at £42,000.
Research indicates that it is “the equivalent value of 1.3 Bitcoins”.
He also says his calculation of the value of underused space in homes in England is just over £791billion – or, as Boomin puts it, “more than the whole product gross interior of Mexico and enough to buy 9,062,761 new Porsche 911s.
In the press release accompanying the research, Boomin Founders and Managing Director Michael Bruce says, “Many of us have a spare room and during the pandemic they have been used as home gyms, offices, studios, and more. art and more, as we have tried to maintain a sense of normalcy both professionally and personally.
“However, for many of us our bedroom or guest rooms will generally remain untouched apart from the occasional visit from friends or family and they tend to act as overflow storage space for our old clothes, children’s toys or other obsolete household items.
“That’s quite amazing considering that this underutilized space is worth over £40,000 per room and it certainly raises the question of whether some buyers could save a considerable amount of money by being more realistic about space. what they actually need, versus how much they would like.
“Alternatively, the government’s room rental scheme provides the opportunity to generate additional income from your spare room and you could earn up to £625 a month tax free.”