The Benefits of a Loft Conversion
Getting a loft conversion can cost anywhere from £17,000 to £40,000, depending on what you have done. But although the initial cost can make you think twice about having a loft conversion, over time your extension will pay dividends – adding value to the overall value of your property.
For a simple bedroom with en-suite the cost of your extension should come in at around £17k, the lower end of the scale. But for a complex loft conversion when your loft is difficult to convert, the costs could begin to go through the roof – so to speak.
That said, when you have a loft conversion, it can add up to 20% of the price of your home. Research puts the added value of your home at around £20,000 but depending on the work you have done to your loft, the figure can range from between £15,000 to £35,000.
What Can You Use Your Loft Conversion For?
The obvious benefit of a loft conversion is the extra space it will afford you. As well as the potential value it can add to your property, you should consider how you want to use the space. A loft conversion will add to your quality of life in your property, allowing you space to retreat from the family for some quiet time, or providing an extra bedroom for guests.
Instead of a dark, dingy loft for you to discard all your unwanted knick-knacks you’ll gain an extra bedroom or an office space at home. You could even use the extra bedroom as a space to rent out so a loft conversion really can pay dividends.
There are many uses for a loft conversion. The most common use is for an extra bedroom. You can transform the space into a very comfortable and bright double room with en-suite, or two singles. This is ideal for larger families or when you have an addition to the family.
It provides a quiet space for relaxing or you can use the serenity of your loft space as your office or admin area, way above the hustle of daily life. It can be used as a playroom for the kids, keeping their toys away from the rest of the house – or you could even use your loft conversion as a gym if you’re thinking of shedding a few extra pounds in weight.
Above all, your loft conversion is about making the most of your space. Whether it adds value to your property depends on a number of things, but budgeting properly will ensure that you spend no more on your extension than the value it will add in the long-term, so at the very least you’ll break even.
Plan Your Extension Carefully
Take in all the considerations before you decide to have a loft conversion. For example, you may need planning permission. You’ll need planning permission if your property is in a conservation area, if it’s in an area of outstanding natural beauty, if it’s a flat or listed building, or is subject to any restrictive conditions. A professional builder will be able to advise you if there are any planning restrictions or you can contact your local council’s planning department for further information.
You’ll also have to keep in mind building regulations. Naturally, you’ll have to comply with these to ensure the structural integrity of your property and building standards such as the electrics and insulation.
Before you start building, ensure that you have written quotations in place and a plan in writing that outlines the estimated start and finish date. Make sure that you have enough cash left over in case of emergencies – sometimes a job can be more complicated than first envisaged, even though no-one’s at fault.
In the end, building a loft conversion can offer endless possibilities for your property. Built well, it will likely pay for itself over time and could add to the value of your property. But the most important aspect of a loft conversion is that you’ll be able to make the best use of the space in your home.
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Call G&A Roofing and Building to speak to a professional builder today on 0800 626430.