Will a Loft Conversion Increase the Value of My Home?
Will a loft conversion increase the value of your home? Yes. Undoubtedly.
For many, a loft conversion is a lifestyle choice, rather than purely an investment, but it is always good to know what you will be getting for your money.
The real question "how much value will a loft conversion add to my home?" but the answer to that depends on a lot of things, such as:
- The number of rooms currently in the house
- The location of the house
- The size of the roof space
- The type of room created in the loft conversion
How Many Rooms?
Adding an extra room to a property will almost certainly increase the value of it, but houses are usually defined in marketing terms by the number of bedrooms they have.
If you have a 2-bed property and make a third bedroom with an en-suite in the loft conversion, you have just increased the number of bedrooms by 50% which could have a significant impact on the value of the house.
Conversely, if you have a 5 bed property and you add another bedroom with a loft conversion, you are still going to increase the value, but the impact will not be as great because there will not be many people saying "...it's got to be a 5-bed, we can't possibly manage with only a 4-bed...."
The current condition of the house and the number of rooms has the least effect on the value compared with the rest of the items on the list; for example the location of your house is far more important.
Location, Location, Location!
The location of your house will ultimately put a limit on its value and that will still apply once you have converted your loft.
Spending £30k and converting your loft into a bedroom with an en-suite might increase the value of your property by £60k in a very desirable area, whereas it might only go up by £30k in a less desirable area.
Checking the average price of houses in your area with one more bedroom than you currently have is probably the best way to judge this.
Existing Roof Space
The size and shape of your existing roof space will influence the value a loft conversion can bring to your property and also the cost of the conversion itself.
If you have limited space in your roof, you can either do a cheaper loft conversion with roof lights and create a small room or do a more substantial loft conversion with dormers and have a much larger room.
For houses with a larger floor plan, it may possible to have more than one room within the loft conversion, adding even more value to the property.
The type of room built in your loft conversion can have a huge effect on the value of the property.
As mentioned earlier, bedrooms are likely to increase the value of your house the most because they affect the headline image of the house, but home offices, gyms and games rooms will still add value, especially if done well.
Adding features such balcony windows, a Juliet balcony or other stand-out features can make a prospective buyer fall in love with a house and act as a major selling point.
If you want to know more about the cost of loft conversions, please read this article about pricing here.
Here at Amazing Loft Conversions, we manage the process of converting your loft from start to finish and we can use our extensive experience to give you maximum return on your investment. Get in touch with our team today!