Who would say no to a little more living space? Curiously (or maybe not) the United Kingdom has among the smallest properties available in Europe. While they are inexpensive options, and so a good choice for first time buyers, storage is invariably a problem – Do you use that space for living or for tucking things away? A loft conversion offers up a way to add both. In addition, they add value to the property (figures indicating as much as 20%), which makes it money well spent. Ask any property expert and they will invariably say the same.
Money Well Spent?
Moving is an expensive business and the money spent is not recoverable. There is the cost of transportation, if selling the cost of solicitors as well as taxes make the whole business an expensive affair – One that is getting higher as the years tick by. Comparatively speaking the investment of a loft conversion can be far more financially rewarding. Not only will it add to the value of the property there are also tax incentives making this a good financial move. Renting gives immediate returns on your investment which can make a loft conversion even more beneficial.
Space is Priceless
The extra space and storage can be invaluable. Depending on the extent of the work needed to create the loft conversion, it can be quite low in comparison – Being creative and even carrying out certain work yourself can also balance the books. Most people use their loft for storage. Even so, a loft conversion not only adds storage it also adds living space.
The loft is the highest part of the house and so can provide some of the best views. If you are lucky enough to be able to benefit from some great views then a loft conversion offers up even more benefits than financial – Indeed, it might end up the best room in the house! Add to this the natural light invariably available, no neighbours windows or walls to block it, a loft conversion really can create a great space to live in.
Most loft conversions will add less than twenty thousand onto a smaller property. It is important to keep the cost of completion lower than the value it will add on. Even so, compared to adding a new kitchen or bathroom for example it will often return more with regards to value. A kitchen or bathroom renovation rarely adds much to the property value. In reality, it usually makes the property more desirable and so have a better chance of selling. Compared to an extension, loft conversions are cheaper, simply because you are renovating an already existing space as opposed to creating a new one.
Paul Connell, a local builder in warwick says the major benefits of a loft conversion are extra space and storage as well as adding some value onto your home. It can be the easiest way to add an extra bedroom and compared to adding an extension relatively cheaper. Careful planning is essential, ensuring costs do not outweigh the real value it will add to your property. Do this and there are certainly benefits to be enjoyed.