If we talk about financial value, loft conversions can increase property value by 10% to 20%. However, the overall exact percentage depends on location, quality of the conversion, and the type of property. Financially, loft conversions are a sound investment.
Increases property value: Adding a loft conversion can increase the value of your home by 20% typically. This provides a good return on investment if you ever sell. Makes better use of wasted space: Most lofts are just used for storage. Converting it allows you to get more practical use out of the space.
Is a loft conversion a good investment? Yes, a loft conversion can increase your property's value by up to 20%, add functional living space, and improve energy efficiency, making it a smart long-term investment.
With ROIs up to 70% according to some research, expanding your home with a loft conversion can pay you handsomely in time. This guide covers the approximate costs of loft conversions and how these are calculated.
Highest cost: A mansard loft conversion, or converting a modern engineered truss roof, can effectively mean replacing the whole of the existing roof structure with an additional attic storey and is the most expensive.
A well-executed loft conversion can typically add around 20% to 25% of the property's value. The value added varies depending on factors such as the location, quality of the conversion, and current property market conditions. Why do loft conversions cost so much?
Moreover, houses built during or after the 1960s may have trussed roofs, which are characterised by their 'W' shaped frames that support both the roof and the floor. These trusses are not designed with loft conversion in mind, as altering them is a complex process that requires replacement with sturdier supports.
Providing a media space
Since a loft is slightly separated from the rest of the home's floor plan, it can be an ideal place to create something special. One great benefit of a loft is that it can be customized to become a great media area.
Yes, it is often worth hiring an architect for a loft conversion. Architects can add value by maximising the space's use and aesthetics, ensuring compliance with legal standards, and potentially increasing your property's value.
A loft conversion for your house is considered to be permitted development, not requiring an application for planning permission, provided certain limits and conditions are met.
The most popular type of loft conversion is a simple flat roof dormer. This is a structural extension which projects vertically from the slope of the existing roof, creating a box shape. This loft extension generally requires no dramatic changes, and allows for the installation of conventional windows.
According to experts at Zoopla, having a loft conversion that adds an extra room to your property can boost its value by around 15%. Other types of extensions add various different values to properties.
Finance options for loft conversions include personal loans, remortgaging, home equity release, using credit cards for payments, and exploring available grants. Each method offers distinct advantages depending on your financial situation and the scale of your project.
The timeline to complete loft conversions depends on multiple variables, including project size, type of conversions, and challenges faced during conversions. However, on average, a project can be completed in 6–12 weeks. The entire process of loft conversion is divided into different stages.
During my loft conversion can I live in my house? Yes, very few people move out of their property when converting their loft.
A roof light conversion is by far the cheapest way to convert your attic, it is a cost-effective option that involves adding windows to the roof of your property. This type of conversion is ideal if you want to create a brighter, more spacious living area without undertaking major construction work.
If you want to stay in your home during a loft conversion, we say it's perfectly possible.
A lot needs to be considered structurally, and the interior needs to be carefully considered to avoid problems down the line. Choosing to convert a loft without an architect's help comes with several risks, including: Poor design – this can lead to your house price decreasing rather than increasing. Planning refusal.
Loft conversions are a great way to add additional living space in your home, and make use of unused space, but they can also add value to your home. Does a loft conversion add more value than an extension? Yes, a loft conversion can add more value than an extension.
Loft conversion drawing costs range between £1,500 and £3,000. This includes initial consultations, the development of the concept, and the final detailed plans necessary for construction and any required approvals. The final cost can vary depending on the project's complexity, location, and the architect's experience.