Adding Value to Your Home with a Loft Conversion

If you are looking for a relatively simple way to add value to your home, a loft conversion could be exactly what you need. Most homes have a roof space that is suitable for conversion.

How much value could it add to your home?

According to the latest studies, adding a loft extension to your home will add around 10% to the value of your home. In many areas, that is more than enough to cover the cost of the conversion.

The cost of a loft conversion

How much a loft conversion costs varies. It is partly dependant on how complex the job is.

On average, you can expect to pay £15,000 for a basic loft conversion. That means that you only have to be living in a property with a resell value of £150,000 for the loft conversion to pay for itself.

In the past, the cost of a loft conversion was much higher and the value of many UK properties was a lot lower. As a result, when it came to loft conversions in Essex and other southern counties were the places where they were most common.

Now most properties across the UK are worth at least £150,000. As a result, the number of loft conversions you come across is increasing throughout the UK.

The other benefits of loft conversion

However, the fact that a loft conversion can add value to your home is only one reason to get one done. There are many other ways that a loft conversion can benefit you and your family.

Space to grow

Most families could benefit from having more space. It is always nice to give each family member his or her own bedroom. Extending into the loft is a simple way to do exactly that.

Loft spaces can easily be turned into extra bathrooms, office space, a gym or an additional reception room. They are very flexible spaces.

Expanding the space that you have available means that you are less likely to have to move home as the needs of your family change. That means less disruption for the family and saves you money on legal and moving fees.

Loft conversions make great granny annexes

A loft can easily be converted into a granny annex, which opens up the chance for families to take in their elderly relatives. Most people prefer to do this rather than put their elderly relatives in a care home.

That way everyone is together and you know for sure that the elderly members of your family are safe and being well looked after when they are with you. In addition, the family is saved from having to pay very expensive care home fees.

The cash saved from not paying those high fees easily covers the cost of having the loft extension done. In addition, the elderly relative gets to keep the money from their own home giving them the chance to pass it on to the next generation should they want to.

If your relative is too infirm to manage living in the loft space you can turn some of the rooms on the ground floor into the granny annex and convert the loft to family rooms. The options are endless.