If you are looking for a way to add value and space to your home, a loft extension is a fantastic option. Loft conversions can create additional bedrooms, home offices, playrooms and more to your home without taking away from your garden space but do they add value? We talk you through whether loft conversions add value to your home and if loft extensions are worth it.
Do Loft Conversions Add Value?
There are two main ways that loft conversions can add value to your home, monetary value and personal value. If you are wondering if loft conversions can make your home worth more when it comes to selling, the answer is yes, usually. The amount of additional space your loft extension could provide in your home is of value itself, whether you need the extra space for growing children who need their own space or a home office to boost your productivity, attic conversions can add personal value to your home as well as potentially boosting the value of your home when you come to sell it.
How Much Value Does a Loft Conversion Add to Your Home?
The amount of value a loft conversion could add to your home will depend on a variety of factors such as the area you live in, the size of your loft extension and more. However, typically, loft extensions are estimated to add on average around 10-20% to the value of your home. If your loft extension is a particularly large or sophisticated one, this could add more value to your house. With space at an absolute premium and house prices soaring, adding extra room to your house could leave you in a much better position when you are ready to sell.
Weighing up the Cost of a Conversion vs the Value Added
One of the key things to think about when deciding how much value a loft extension would add to your home is the cost of converting a loft compared to the amount of value you would be adding to your home. No two loft conversions are the same and each will have different costs and benefits involved. Comparing these costs can help you decide whether the value added to your home is proportionate to how much you spend.
What Could Affect The Amount of Value Added Through a Loft Conversion?
Loft conversions are one of the most cost-effective ways to add value to your home. However, there are a number of factors that could affect the amount of value a loft conversion could add to your home. One of these factors is what is known as a price ceiling. The type of house you live in and the area you live in will have a maximum amount it could be worth. You can work out the price of houses in your area have sold for on the gov.uk website to get a rough idea of what your house would be worth after converting your loft. The type of loft conversion you build can also affect the amount of value added to your home. A dormer loft conversion bedroom with plenty of space added to an additional storey, for example, will likely add more value to your home than a smaller loft conversion with minimal features. The latter will however also cost less to convert.
Building a Loft Extension Vs a Home Extension
One of the main decisions people often have to make when considering extending their home is deciding between a house extension and a loft conversion. Both of these options will add extra space to your home and potentially add value to your property, but which is the best option for you? This is, of course, a personal choice but there are a few elements that could sway your decision. Firstly, house extensions extend the floorplan of your house but also take up what could be valuable garden space. If you enjoy spending time out in your garden, extending your home to the rear or side could bite into that precious space. Loft conversions on the other hand build up. Converting your attic space replaces already existing space that you might just be using as storage space. In addition to this, because of the additional materials needed and potential planning permission required for home extensions, loft extensions can often work out as a much more affordable way to add extra rooms to your house.
Is a Loft Conversion Worth it?
Hopefully, our guide to loft conversion value has helped you to decide if a loft conversion is worth it for you and your family. Alvaston Loft Conversions has been bringing loft conversion ideas to life for a number of years so is perfectly placed to answer any questions you may have about building a loft conversion on your home.
To find out more about converting your loft space, contact the team at Alvaston now online or by calling 01922 402720 to talk to our team.
