If you are a landlord or property investor, you may be able to increase your rental yield or resale value by adding a loft conversion to your rented property. According to building society Nationwide, a loft conversion can add up to 20% to the value of your property. They also go on to say that adding an extra bathroom can add 4.9% to your property, while increasing the floor area by 10% can add another 5.1% to the property’s overall ’s value.
Of course, adding an extra bedroom can also help to raise rental yields, especially in London and the South East where the demand for rental properties are high. According to EasyRoommate, the average rent in London in 2017 was £751 for a double room in a flat share. So, there is certainly scope to increase yield by adding an extra bedroom and bathroom if space allows.
If you wish to improve your rental or investment property with a loft conversion, then you will need to make sure there is enough headroom for one. Current building regulations state that the ridge needs to reach a height of 2.2m at the apex for it to be suitable for a loft conversion. You will also need to factor in 2m of headroom required for the stairs.
If you’re thinking whether it is worth getting a loft conversion for your property then read our case study below, on how an attic conversion for a rental property can improve your rental yield and increase capital.
Case study: Wandsworth buy-to-let loft conversion
In 2018, a landlady of a first-floor terrace flat in a conservation area in Wandsworth, South London, commissioned us to design and build a mansard and L-shaped Loft conversion and conduct an extensive renovation of the rest of the flat. The purpose of the renovation for the owner was to increase rental yield by adding more bedrooms. Our designers at Simply Loft, cleverly thought out every inch of available area to ensure that space was maximised for tenants. We also refurbished the kitchen, living area and existing bedrooms to create a clean, modern finish that would appeal to young professionals looking to rent in the area. For more information on this case study click here.
If you are interested in building a loft conversion for your rental or investment property then contact Simply Loft for a free site survey.
