How Much Value Will a Loft Conversion Add to My Property?
26 November 2019 | Fakro News
Converting your loft space into a liveable area is not only a very exciting project, but did you know that if everything is done right, it can also significantly increase the value of your home? The perfect layout that adds space, lots of light through roof windows and real usable living areas will not only add value to your house, but will also make it more sellable.
How much will my house value increase with a loft conversion?
As a guide a well built and perfectly appointed loft conversion can add between 10–20% to the value of your home, according to Ideal Home. But where do you start? It can be an overwhelming process, especially for those of us who’ve not been through major building works previously.
But do not despair! Because whether you’re struggling with where to start or if you’re looking for inspiration, we can help! Let’s look at some top tips for designing your loft conversion to maximise your properties value.
Before spending any budget on design or building works you need to understand the existing structure of your loft - to see if the changes you’re considering will deliver a profitable return. For example, your loft must adhere to height measurements as detailed by The Planning Portal. Why? Because there needs to be enough headroom in the completed conversion, and to be sure the area is safe while building work is carried out. A loft conversion with restricted head height can only be used for storage, not as a living area. A loft as storage alone will not significantly increase the value of your property.
If you’re existing loft space is not high enough to convert with the simple addition of roof windows, you may still be able to alter sections of the roof to access extra headspace. However, this will require planning permission. This can be a long process, which is not guaranteed to end with approval, so working well in advance of your planned completion date will be key. Don’t forget that planning applications will add additional costs to your project, which will come off your profit at the end.
What is a realistic budget for a loft conversion?
Once you have confirmation that your loft is suitable for a conversion, you can start thinking about how to use your new space. While you’re thinking about the permanent items you’ll be adding, you’ll also need to allocate a realistic amount of money for the project to cover everything. And remember to assign a contingency, as there will always be a surprise or two.
The cost of a loft conversion depends on the size of your loft and the style of conversion you decide upon. As a general rule, a loft conversion may add £50,000–£60,000 onto the value of your home, depending on its size. As most loft conversions cost between £20,000–£40,000, you’ll need to keep an eye on your budgets to achieve a good return on investment (Household Quotes).
When setting your budget, consider the average prices for essentials such as prepping the existing loft for conversion, any rewiring, access arrangements and fitting both flooring and roof windows. You should approach a range of architects or loft conversion specialists to find the most competitive quotes for each of these processes, basing your budget on the top three.
Understanding the difference between loft conversion types
You don’t need to become a loft conversion expert, but you will need to appreciate that there are six main types of conversion. Each have their benefits and work for different functions.
Rooflight conversions: Often considered the cheapest because they require significantly less structural work for installation. And you’d be surprised at the wide range of roof windows on offer.
Dormer loft conversions: Used to add extra head height where space is restricted, but can appear unsightly from the outside of your home.
Hip-to-gable conversions: Common among semi-detached houses these include removing the sloping end of a roof and replacing with a vertical wall to form a new gable end.
Gable-to-gable conversions: Achieved by creating a box extension which spans the two gables. In some cases, this requires increased height of the gable ends to support.
Mansard loft conversions: These add additional space and involve replacing the roof slopes with steeper sloping sides, completed with a flat box roof over the top.
Modular extension loft conversions: These may be possible if your current loft space is unsuitable for conversion. Instead, a new space is manufactured externally and fitted by removing the existing roof and installing the new module almost as an additional floor.
Deciding what the room will be used for can maximise its potential
A loft conversion can be used for any purpose you wish. You may plan to use the space as a home office or a hobby room where you’ll need lots of natural light. Doing so will mean you need to think carefully about how and where you add your roof windows. Alternatively, if you’re going to use it as a spare bedroom for guests, you’ll need to ensure the space is cosy enough for them. This may include the addition of a new bathroom, wetroom or en-suite. Defining the space as a valuable, usable area, such as a new bedroom is the most reliable way to add both value and sellability.
Converting your loft can involve a lot of preparation and planning but, with so much potential to add real value to your home, now might be the time to start looking upwards, and unlock the potential above your head.
For more information about loft conversions, read our helpful articles from our Knowledge Hub. Or to discuss your roof window and loft ladder requirements call the FAKRO Support Team on 01283 554755 or email: email@example.com.