Is a loft conversion a good investment?
This is probably one of the most important questions people ask themselves before they decide to go ahead with their loft conversion and it deserves some careful consideration.
Some of the questions you need to ask yourselves are:
- Do we like our house and the area where we live?
- Do we want to stay here a while?
If the answer is ‘yes’ to the above then your investment is not just about increasing your homes value. It’s about increasing the quality and size of your living space in a home that you love and in a neighbourhood where you feel settled, without having the hassle of starting all over again somewhere else.
If your intention is to make money by converting your loft and then selling your house shortly afterwards, then you need to check what the market value of your house will be with the extra room, before you go ahead. There may be a ceiling on the current value of the houses in your street that can’t be raised, regardless of home improvements.
Moving to a larger house is almost always the more expensive option. In Clarendon Park for example, upgrading from a three bedroom house to a four bedroom house, or from a two bedroomed terrace to a three bedroom semi-detached house, will cost you far more than a loft conversion if you want to stay in the area.
If you decide to go ahead with converting your loft, a Clarendon Carpentry loft conversion will most certainly add value when you come to sell your house, not only by increasing the size of your home but by creating a fully integrated third floor of high quality living accommodation which blends seamlessly in to the original style of the property.
What do the experts say?
According to a Home Improvement Survey valuation carried out by HSBC in 2012, a group of experts agreed that a loft conversion was the best way to improve your home’s value.
An earlier survey in 2011 conducted by Nationwide Building Society concluded that adding a loft conversion to your home could increase its value by almost a quarter.
Creating an additional bedroom and bathroom with a loft conversion was found to increase a property’s value by up to 23%.
With house prices on the increase, there has never been a better time to convert your loft.
All of our customer agree that it makes good financial sense for them.
‘Our loft conversion really has given us a new lease of life in this house and it’s so much more cost effective than moving house. It really has been just a brilliant thing for us to have done, full stop.
I think if we’d have realised how painless it would be we would have done it sooner, in fact our only regret is that we didn’t do it sooner, like ten or fifteen years earlier.’
Helen Webb and Rachel Lopata, Western Park, Leicester