Increasing the value of your property is a goal of every homeowner, but it can be difficult to know what you can do to make a profit out of developing home rather than just increasing its price and breaking even. One reliable home improvement that almost always has a return on investment, is a loft conversion. Loft conversions can add up to 20% to the price of your home, very roughly returning twice the amount of money you spend on the conversion.
There are many different types of loft conversions and variations which will alter the return you will get. Typically, in central city areas like London, adding more bedrooms to a house or flat will add substantial value to your property. In London there is a high need for central properties with space for growing families. This means that any way you can add a bedroom to your property will be highly attractive to a larger portion of buyers. You can add bedrooms through a rear dormer, mansard or skylight loft conversion.
The next way to add more money is to add a bathroom to your property. With a loft conversion, you can add a bedroom and ensuite to most properties which allows for completely independent living from the rest of the house. If you wanted to rent your loft space, which is common in London, then by having a bedroom with ensuite you can give your tenants their own private floor of the house.
Another option you could have is a roof terrace. In recent years these have become more popular with people enjoying the English summer instead of splashing out on holidays abroad. This is location dependent however, with properties that have green space surrounding them being more favourable for roof terraces. A roof terrace can be a good addition for an L-shaped loft conversion, as a new bedroom can be created over the main section of the house and the roof terrace can lead onto the L-section. A good example of this is in our Otterburn Street case study.
Other options that could add value to your property are having a home office in your loft. Working from home has become important across the world over the past year with the Covid-19 pandemic, and we have seen a sharp increase in buyers wanting a space to work from in their home, away from family distractions. A home office, yoga studio or relaxation space can all be attractive ways to utilise dead space currently in your loft.
As far as home renovations go, loft conversions are a reliable choice if you want to add value to your property. Our surveyors have years of experience and knowledge to advise you on what your best options are for your loft conversion.
If you are interested in having a loft conversion contact Simply Loft on 0800 917 7571 for a free, no obligation site survey today!
