Loft conversions have become a popular feature in UK homes for a number of reasons – not least because they can increase the value of a property quite drastically. The housing market is a tough place to shop right now and a loft conversion allows buyers to get an extra bedroom for less – but it also helps sellers get more for their property and a bigger budget for their next home.
So if you are thinking about putting your house on the market or you have been struggling to sell your home for the price you had in mind, it might be time to look at converting your loft to increase the value of your home and get more from your sale.
The numbers you need to know
Property experts widely say you can increase the value of your home by up to 25% with a specialist loft conversion – which adds up to quite a sum. To put that into perspective you can convert a typical three bedroom property worth £500,000 in London into a four bedroom home worth 625,000.
That’s 125,000 profit – minus the initial cost of your loft conversion – which gives you considerably more financial clout to move in the property market. A typical loft conversion will cost as little as £10,000, so you can start to see why they have become the most popular home improvement in the UK for homeowners looking to add value to their property.
What about other types of home improvement?
Loft conversions aren’t your only option if you want to improve or add value to your home – but there are a number of reasons why property experts recommend your attic as an investment opportunity. Above all they offer the best return on your money, because you are turning unused space into an extra bedroom – which is what house buyers are looking for.
You can achieve the same thing with a property extension, but you need space to build which normally means sacrificing garden space, which can decrease the overall value of your property. Loft conversions are also the more cost-effective and hassle-free option because you generally don’t need planning permission and the initial structure is already built.
Use a specialist to maximise your profit
Despite all the positives a loft conversion can add to your property, you need to get it right if you want to make a profit and get the most for your property. A loft conversion isn’t your typical build and it requires expert knowledge to determine exactly what type of conversion your property needs and how to maximise the profit from your build.
Before you make any concrete decisions make sure you speak to a loft conversion specialist so you can sit down and discuss exactly what you want from your new attic and the best way to go about converting it.
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