15th January 2015
At MPK Lofts we have seen a lot of home owners come to us asking for loft conversions as an alternative solution to buying a new house when they find that their existing space is starting to become cramped.
Homeowners are finding that as their families grow, they can’t afford to buy a bigger house and so the best solution is to find space in their existing property – the most convenient and well known being in the roof space of your house.
However, there has been a lot of speculation as to whether or not a loft conversion is a good investment to make, considering that a loft conversion can cost anything from £20,000 to £40,000.
Does a conversion add to the overall cost of my home?
Not only does a loft conversion offer a fantastic and convenient solution to a shortage of living space within your home, recent reports in The Telegraph show that adding a loft conversion can increase the value of your property by up to a fifth!
The study shows that by converting your loft into a new useable living space can add up to £37,000 to the selling price of your home.
Also, according to the Nationwide Building Society, by just adding an extra bedroom to your property in your loft you can add around £20,000 to the value of your property. Even just a bathroom will add around £8,000 to your house (this information is based on the household value being £178,124 which was the household average in early 2014).
What else can increase the value of your property?
Aside from the above, there are other amendments to your property that you can do that add value to your home.
You can replace your old roof and windows. By having a run-down roof, it can decrease the valuation price of your house by anything from 15-40%.
In addition to this, you can also re-design your garden, front and back. In doing so, you can actually increase the value of your property by around 10%. By making sure the garden is maintained and has an area for entertainment (this being a patio or decking). If you’re lucky enough to have a front garden, make sure that all of the shrubs and plants are cut down around the windows and it looks neat and inviting.
To conclude…
The answer to the original question is yes, a loft conversion does have the potential to add value to your property. This is providing that you can get the conversion at the right price.
At MPK Lofts, we do all of the planning, architectural drawings, construction and aftercare ourselves. This ensures that all of the savings that we make by not outsourcing this work can be passed on directly to you. Call us today to find out more! 0117 9478200
15th January 2015