Mortgage on moon would cost a huge £235,000 a month, money experts say

A mortgage on the Moon will set you back an eye-watering £234,000 a month, money experts have revealed.

Number crunchers have considered the cost of building a property on the Moon if civilisation moved to space.

Money.co.uk estimates that the cost of transporting materials from our planet along with building a fully functioning house able to cope with the extreme weather conditions will cost almost £35 million to begin with.

They then worked out that with an average property markup price of 27.61%, would-be settlers could look at spending £44,525,536 on the first ever Moon home.

If a lender accepted a 10% deposit from buyers, they would have to put down £4.4 million and expect a monthly mortgage repayment of around £234,262 over 25 years.

Money.co.uk say that before anything else, potential Moon inhabitants would need to get themselves a land licence.

Land is sold on the Luna Registry and a plot on the most sought-after location, the Sea of Rains, would cost almost £95. A license in the Sea of Vapours would cost £13.64.

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It is estimated it will cost around £5.8 million to transport essential components, tools and equipment from the Earth to the Moon to build a house, including workers.

Due to the extreme weather conditions and the high likelihood of meteor showers, things like air seals, industrial strength air-conditioning and heaters, meteor proof windows, insulation and organic sources of energy need to be factored into the hefty costing.

The houses could have a solar-panelled external surface, as well as an air-sealed oxygen pod forming part of the entrance, plus a water recycling room, a lunar greenhouse and a nuclear reactor.

The rest of the property will be taken up by living quarters, sleeping quarters, a dining room, a kitchen and a room for spacesuits.

Settlement of the Moon has been considered and many proposals have been made about how and where a lunar colony would be built.

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