Loft conversions adding value
It is fair to say that the majority of people have spent more time in their homes in the past year than ever before, with many needing more space. The work from home trend has inspired homeowners to transform dreary areas of their property into home offices, home gyms and studios. It has left many of us wondering if there is a way to create more space in our homes without spending a fortune. For many people living in the city, extending into garden space is not an attractive option and can actually decrease the value of a property in the city.
One of the most commonly recommended ways of increasing space in the home is to invest in a loft conversion. Whilst they can be costly in the short-term, in the long-term they can add substantial value to your home! Typically, a loft conversion will add up to two times the amount you spend on converting your loft. Within this there are separate factors that can influence how much value your conversion will add to your property.
One of the biggest influences on how much value a loft conversion will add to your property, is the type of loft conversion you choose. There are six main types of loft conversion: mansard, hip-to-gable, rear dormer, L-shaped dormer, skylight and hip-to-gable with rear dormer. Each of these loft conversions adds varying amounts of space and light to your property, varying in price too. If you are considering a loft conversion, you can book a site survey with an experienced Simply Loft surveyor who will explain each of the loft conversion types to you.
The most common type of loft conversion in London is the rear dormer, costing in the region of £40k including VAT. It can add a bedroom and make enough space for an ensuite bathroom, which a surveyor will be able to talk you through when they visit your home for a site survey. The mansard is the most expensive type of loft conversion, costing approximately £50k including VAT. It adds the most amount of usable space to the property, including multiple rooms and bathrooms. Due to this, it can add the most amount of value to a property.
The value of your new loft space will depend on what you have chosen to do with it. In most cases, adding more bedrooms adds the most amount of value to your home, and if you add an ensuite the value will increase again. Depending on where you live, having a roof terrace can add value to your property too, and can be built alongside a conversion on the L-section of the house. The best way to understand how much money a conversion can add to your property is to visit your local estate agent and have them advise on the best options for your home. No matter which loft conversion you choose, it is a reliable home investment which sees a great return when selling your property.
Posted by: Sarah Dixon | Posted on: December 23, 2020 | Posted in: INTERIORS