For people looking to increase the size of their home without moving out, loft conversions have often been the solution. If you are expecting a new child, inviting elderly relatives to live with you, or just want an increase in space, then a loft conversion could be for you. Converting a loft doesn’t just mean slapping a new floor onto your house, however. There are some important considerations to make before extending your home upwards or outwards. What accommodation options are available for students?
Always ask for advice
In the UK, companies such as Touchstone Lofts provide bespoke conversion solutions. Getting a professional in to assess your options is always worthwhile if you are thinking of making changes to your home. Loft conversions are no different. Most large loft conversion specialists will be happy to come and survey your house. A contractor with lots of experience will be able to assess the structural suitability of your home for any number of conversions.
Is a loft conversion really the right way to go?
Loft conversions can give your house more space and drastically increase market value, but before you rush in, it is worth considering your other options. Sometimes less radical changes can be made to increase the size of a house. Knocking down walls or building a ground floor extension can provide similar benefits- often on a smaller budget. In many circumstances, a loft conversion is still the best use of space, however. For instance, if you own a Victorian property with a pitched roof, it will be far more likely that a loft conversion will be financially beneficial and spatially efficient.
Consider the financial impact of a conversion
According to Chancellor’s estate agents, loft conversions increase the value of a house if sensibly planned. The increase in value brought about by a loft conversion depends upon several factors. Firstly: what does your loft conversion add to the property? Extra space doesn’t always mean extra cash. An extra master bedroom, however, will significantly increase the value of your house. An extra bedroom in a central London property could see the market value of the property rise by almost £200,000.
In 2016 it was estimated that conversions generally added up to 20% to the sale value of a house. It is worth considering some of the financial burdens you may have to put up with in order to make this increase. As well as the cost of the conversion itself, extensive building work may require you to move out of your house for a short period of time. Planning well in advance is crucial, and a loft conversion specialist will help you mitigate any extra costs by letting you know exactly what to expect.
Loft conversions can have amazing benefits. Plan ahead, think realistically about your property’s potential, and your own needs, and you could find that converting your loft is the best home improvement decision you have ever made.