Increasing Ceiling Height by lowering floor

[MonzaEvo]

I'm not entirely sure what this would be termed as (hence googling not turning up very accurate results) - We looked at a grade 2 listed cottage and the ceiling height for a 6 footer was minimal to say the least... We did notice however that next door seemed to 'step down' into their cottage.

Is it possible to dig under flooring (which was laminate, if that makes a difference to the work)to increase the ceiling height and is this a costly procedure?

Rgds
Jonathan