Ever wondered if a loft conversion will increase the value of your property? It’s a common question to ask, especially as the general school of thought is that any renovation work should cause an increase in property value. Therefore, if you’re looking to increase the value within your home, adding extra rooms through a loft build could be a good solution.
Wondering how much a loft conversion can increase property value, and what sort of loft builds are the most attractive to prospective buyers? Read on.
By how much can a loft conversion increase property value?
If you’re wondering how much a loft conversion can increase your property’s value, then the good news is that recent studies have shown that a loft extension can increase a property’s value by up to 20%. This is based on adding a double bedroom and bathroom to a current three-bed, one-bath home.
Some types of properties and areas of the country may experience larger increases in property value than others. For example, in London, by adding a loft conversion to your property, you can expect to increase property value by approximately 24.5%.
Do I need to be aware of ceiling prices for properties in my area?
As with everything, it’s worth doing your research first and consulting a loft conversion specialist, as you need to also be aware of the ceiling value within the area you’re living in and the type of property you’re converting.
It’s no good spending out on a loft conversion, hoping to increase your property value, if you won’t make that money back when you sell.
Take a look at property prices in your area, and particularly those in your street or neighbouring streets, which have had similar work done. Will you recoup the cost of the work back when you come to sell?
It’s a good idea to speak to a local estate agent before any loft build commences, to confirm that you’re likely to add value, and how much.
How much should I expect to spend on a loft conversion?
It’s very difficult to put a value on a loft conversion and say how much an attic conversion will cost, because all properties and all loft builds are different. However, there are certain factors that can increase the cost of a loft conversion, which can include, but are not limited to, the following:
- Whether planning permission is required
- The size of the conversion
- The amount of structural alterations involved
- The type and amount of windows to be installed, for example, dormer windows will cost more than a simple skylight conversion
- Any additional features, such as Juliet balconies or the addition of a roof terrace
Although there are many factors that can contribute to the cost of a loft conversion, there are also loft conversions to suit every budget. Speak to a specialist loft conversion company for a personalised quote on the work you’re looking to undertake.
What types of loft conversion add value?
Any additional habitable space is likely to cause an increase in property value. However, there are always certain types of loft build that are more attractive to prospective buyers.
This could be a double bedroom and bathroom to create a master suite in the loft, or it could be the addition of a dressing room or home study.
Alternatively, building an L-shaped conversion on top of an existing lower story extension can give a lot of additional space, and a roof terrace is always an attractive option where current outside space is at a minimum.
No matter what you do in terms of a loft conversion, speak to your specialist first. They will be able to give you a good idea of how much of an increase in property value you can expect to achieve with the various types of loft conversion available.
Wondering how much of an increase in property value you can expect to achieve with your loft conversion?
Wondering by how much you could increase property value within your home? Get in touch with Bespoke Lofts to find out. We can talk you through the various types of loft build available for your property, as well as give you a personalised quote for the project.
To discover how to create a loft space that will add value to your home, get in touch with Bespoke Lofts today.