Guest Blogger: How a Loft Conversion Can Increase Your Property Value

Guest Blogger #949, Entry #2365, May 1, 2013

The housing market in the UK is still trying to recover from the ongoing recession that began back in 2008 and as a result, homeowners are trying to figure out ways in which they can increase the value of their property.

Getting a new paint job or installing new carpets is a start, but it’s not really enough to increase your property value. Cosmetic changes will help, but you need something serious and lasting to really add value.

You could have a look through bedroom storage from Betta Living for a start; whether fitter or otherwise, storage can create a huge impact on the look and space available within your home. Afterwards, you should think about converting your loft in order to boost your property value.

Tips to get the most out of your loft conversion

Image via: Design42 Architecture, LLC

Don’t bother with a swimming pool 

You may think that adding things like a swimming pool or a hot tub will increase your property value, but it could well do the opposite. Potential buyers will be scared away because of the maintenance costs involved.

Swimming pools are ultimately a luxury, affordable only for those at the top end of the economic scale. Having a loft conversion, on the other hand, can increase your property value by £16,152 on average, according to the 2012 HSBC Home Improvement Survey.

Loft conversions are relatively easy

A loft conversion can be initially costly. A four square metre loft would cost around £19,200 and you may need planning permission before you begin work. There will be additional costs if you factor in getting professional assistance and advice.

However, if you play your cards right, it shouldn’t cost the earth to convert your loft and having professional help can actually be very beneficial in the long run. On the other hand, you’ll save around half your investment if you decide to convert the loft yourself – it’ll cost around £498 per square metre, as opposed to £998 per square metre with a professional.

Convert your loft into a spacious area for you and your family

Image via: SVOYA studio

How can you afford one?

If you lack the savings to be able to go all in on a loft conversion, you can always get a home improvement loan for conversions. This is probably one of the best ways to secure your loft conversion. You’ll be able to pay the loan back on a monthly basis at a rate that you’re happy with.

You should also have consultations with professionals to get free quotes, giving you an idea of how much your loft conversion will cost if you go with them.

For more home renovation ideas on Stagetecture, click here.