How Much Value Does A Loft Conversion Add?

How Much Value Does A Loft Conversion Add

The big question becomes; does it make financial sense to improve your home?

More and more households in the UK prefer to improve their homes for various reasons, either converting their lofts, extending their homes, remodelling kitchen and bathrooms, but the most common reasons are

1. Changes in personal circumstances

2. Trendy and fashionable designs

3. The cost of moving out is high

4. The high price of new properties

The big question becomes; does it make financial sense to improve your home?

Adding a superior style to your home increases the value of your home a great deal. Many service providers in the UK inflate the value-add of a home improvement, resulting in confusing numbers, including biased government reports, because of the companies who sponsor such reports.

It is generally accepted wisdom that a great way to add value to your home is by having a loft converted. Although an extension carries the most weight, converting your loft is preferred by most Londoners because of the extra living space that it creates all-round – meaning that while an extension eats into your lovely garden and external space, a loft conversion creates space internally and keeps the outer space untouched. On average, a loft conversation increases your house value by 11% – 23%.

A note of caution here. If the reason you want to convert your loft is that you want to increase its value, then carry out some research before you begin. Some areas have a price ceiling, and there is no point in spending over the price ceiling. If the price ceiling is £400,000, and you spent £350,000 on your home, it is unreasonable to spend more than £50,000 on your conversion. So research, and fix your budget.

Other value increasing projects you can undertake that raises your property’s price on the market are home extensions (11 – 28%), while kitchen improvement boosts the value by 5.5%, extension with kitchen and diner (10.8% – 30%), new roof (3.1%), basement (6.7%), central heating system (1.9%).

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