If you are on the lookout to add value to your homes, then loft conversion is one investment that you should not overlook. Firstly, it adds space to living areas and increases the overall appeal of your property. In this article, we’re going to look at how a loft conversion can add value to your home and what you know to ensure it’s worth the investment.
What is a Loft Conversion?
A loft conversion is the process of transforming your unused attic or loft space into a functional living area. This could be a bedroom, office, playroom, or even a bathroom. Loft conversions are popular in the UK because they make use of available space without the need for a full extension, making them more cost-effective and quicker to complete.
How Does a Loft Conversion Add Value?
Increased Square Footage
The first way a loft conversion increases the value of your home is through increased square footage. In the competitive UK property market, the more space you have, the higher the price you are able to ask for, selling it. Adding on an extra bedroom, living space, or even a bathroom can greatly increase the entire value of your property.
According to property experts, a good loft conversion can add up to 20% to the value of your home. For example, if your property is worth £300,000, a loft conversion could add £60,000 to the value.
Maximizing Existing Space
One of the greatest benefits of a loft conversion is that it uses idle space. Most homes have an attic or loft which acts only as a dust collector. Thus, instead of expanding out, which is time and cost consuming, you can bring some practical living space by way of converting your loft which, in turn, increases both its utility and value.
This is an economical method to achieve more space without forcing one to extend the footprint of the property.
Construction of Additional Bedrooms
An additional room is one of the common applications for a loft conversion. It would turn out to be beneficial if, for instance, there was a need for more room to accommodate family members, house guests, or letting the space out. Large homes with more bedrooms attract a better price because many people seek family homes.
Adding an en-suite bathroom with the new bedroom would add more value to your house. People buy houses for their bathrooms, which is one of the major selling points. The private en-suite will add a luxurious feel and convenience to your home, which makes it more desirable to potential buyers.
Improvement of Curb Appeal
While a loft conversion is normally work on the upper floors of your house, it will also increase the curb appeal of the property. Provided it is done correctly, the loft conversion will improve the design of your house; hence it will be modern and spacious. For example, the addition of dormer windows improves the aesthetic appeal and also increases the amount of natural light entering the loft space, hence bright and more inviting.
A well-designed loft conversion can make the difference between your properties being more attractive than others in the market, thus increasing chances of attraction by more interested buyers upon its sale.
Saves Money on Moving Costs
Instead of spending money on a new, larger property, you could make the most of the space you already have with a loft conversion. Moving is expensive and the costs involved in buying a new home, like stamp duty, legal fees, and moving expenses, can very quickly add up. By converting your loft, you are adding value to your existing property without the financial burden of relocating.
Key Considerations for a Loft Conversion
Loft Conversion Planning Permission Regulations
You should obtain permissions when wanting to do a loft conversion. Many loft conversions use permitted development rights thus a man will not need a bit of planning permission. Yet he will require it major things or just in case he does these- to use like this: dormer windows additions at the roof.
It is essential to hire an architect or a builder before undertaking the loft conversion work so that it can meet all the local building regulations, thereby ensuring that it’s done to a high standard and adds value to the house.
Choosing the Right Design
It’s worth considering how you intend to use your loft conversion when planning. If you are adding a bedroom, then think about the sleeping layout, storage options, and how you can create a comfortable and airy space. When it will be multi-functions – office or even living space – ensure the design suits those needs.
The design should always complement the existing structure of your home and maximize the space available for use. Some features to consider include skylights and dormer windows to provide a bright airy appearance that will appeal to any buyer.
Budgeting and Costs
A loft conversion can become an addition of value; however, it is very important to stick to a realistic budget. The cost of a loft conversion will depend on various factors, including the size of the space, the complexity of the design, and the materials used. On average, loft conversions in the UK cost between £20,000 and £50,000.
It’s always a good idea to get quotes from multiple builders to ensure you’re getting a competitive price. Don’t forget to account for extra costs, such as planning permission fees and interior design.
The great thing about the loft conversion is that it enhances the value of your house. With additional space, it’s going to increase the square footage and provide you with an affordable solution to relocation. Whether it is another bedroom or office space or bathroom addition, this is where a loft conversion will boost appeal ability among those willing buyers and a good ROI at the end of the line.
You can ensure that your loft conversion adds value and functionality to your property if you follow the right steps, such as checking planning permission, right design creation, and budget sticking. Contact North East Contractors Ltd for more information.
