Does a Loft Conversion Add Value to Your Property?

Thursday, May 21, 2020 - 7:57pm
Does a Loft Conversion Add Value to Your Property?
Carai Lofts This post was written with the expertise of Carai Lofts, a company that provides Loft Conversions in London.

Adding space to your home is crucial. As you get older, you naturally need more space for many reasons. But just because you have outgrown your space does not mean you should sell it if you love where you live. Most of the time you just need to add more space, and whether this means lifting the roof or adding more windows, it may be a bit cheaper to do a loft conversion than buying a new home. But does a loft conversion add value to your home?

A loft conversion actually helps increase your home's value by a lot. According to The Guardian, “Extending your home or adding a loft conversion can add more than £42,000 to the value of an average property, while an extra bathroom could boost its worth by nearly £10,000, a report has found.” 

Anything you do to your property will increase the value and, in the end, it may be much more than you expected. Upgrading your home is a perfect investment so when it is time to sell your property, the home’s value will have increased. Therefore, you will be making more money in return. Converting your loft by adding new windows, floors, cabinets, countertops, and much more can increase your property's value. It may even attract more buyers when you are ready to sell your property one day. Adding windows, or even an extra room can increase your property value but also suit your needs at the same time.

How to Add Extra Space to Your Property

According to Property Price Advice, “Whether you can actually implement a loft conversion in your home largely depends on the pitch and shape of your existing roof; some will discount themselves automatically, and others are far easier—and thereby cheaper—to convert. The main criteria are the amount of useable load bearing walls to support the new structure.”

Getting professional advice from a builder or architect can help guide you on what needs to be done in order to start your loft conversion. Finding out if you have a suitable roof can help you save money and decrease your overall costs. Making sure to compare quotes and packages before signing a contract to see which the best option and the price you are going for before agreeing on the loft conversion.

Is a Loft Conversion a Hassle?

Converting a loft can be a great deal and depending on the loft size, It, can take about a month or two. It also depends on if your loft conversion has minimal construction needs; if so, you shouldn’t need permission to start building. You should also be able to live on your property since it won’t be a major reconstruction.

The upsides of building a loft conversion are the increase of your property value, more space to live in, and more room for your family to grow. Also, it gives you more space for creativity as you are building more space for your office, playroom, or gym.

Not all homes are suitable for a loft. Properties with smaller spaces and less room for storage may not be the best option to convert. According to Ash Brook Roofing, “If you intend to use the conversion as a room for sleeping in, bear in mind a lot of loft conversions have a sloping ceiling. Ceilings less than 2 metres could pose a problem fitting furniture in let alone trying to walk in your loft.”

Finding out if your home is eligible should be the first step before beginning construction. If you're limited on space, building storage and storing them in small places in your home could be an option, or leaving an open space in the top of the extra construction for your storage could be a great option as well.  

Best Additions to Increase Your Property Value

Adding lighting and windows can increase your property value by a lot. People love it when they enter a home and see lots of windows and natural lighting. Building a room, a balcony, or a bathroom can also increase your home's value, as these are things that people look for when buying a home.

Converting your loft can come at a cost but in the end, it is worth it. The benefits of converting your loft outweigh the disadvantages. If you think a loft conversion is in your best interest, then talk to professionals in that field, such as an architect or builder, to get quotes before moving forward. Finding the right way to go about building your loft can save you time and money in the end.

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