A loft conversion has long been considered a popular and effective way to add both living space and value to a property. In 2019, the value a loft conversion can add to your home remains significant. The exact amount may vary depending on various factors, but it is generally agreed that a well-executed loft conversion can increase your property’s value by about 20% to 25%.
Factors influencing the value added by a loft conversion
Several factors can influence the value added by a loft conversion, including:
1. Type of conversion: Different types of loft conversions, such as dormer, hip-to-gable, or mansard, may have varying impacts on the value of your property.
2. Size of the space: The size of the converted loft will play a significant role in determining the value it adds to your home.
3. Design and quality: A well-designed and high-quality loft conversion that seamlessly blends with the rest of the property is more likely to add value compared to a poorly executed one.
4. Location: The location of your property also plays a vital role in determining the value added by a loft conversion. Different areas have distinct property markets and demands, which can affect the perceived value.
5. Market demand: The overall demand for properties with loft conversions in your area can impact the value it adds. If loft conversions are in high demand, buyers may be willing to pay a premium for a property with this feature.
FAQs:
1. Will adding a loft conversion increase the value of my property?
Yes, a loft conversion is generally regarded as an effective way to add value to your property.
2. How much can a loft conversion increase my property’s value?
On average, a loft conversion can increase your property’s value by about 20% to 25%.
3. Is planning permission required for a loft conversion?
In most cases, planning permission is not required for a loft conversion. However, it is advisable to consult with your local planning authority to ensure compliance.
4. How long does a loft conversion typically take to complete?
The time required to complete a loft conversion can vary depending on the complexity and size of the project. On average, it can take anywhere between 8 to 12 weeks.
5. Can a loft conversion be done in any type of property?
Loft conversions are possible in most types of properties, including houses, bungalows, and apartments, as long as there is sufficient height and structural integrity for the conversion.
6. Will a loft conversion increase the energy efficiency of my home?
A well-insulated and properly designed loft conversion can enhance the energy efficiency of your home, leading to potential cost savings on heating and cooling.
7. Do I need to hire an architect for my loft conversion?
While it is not mandatory to hire an architect, consulting with one can ensure that your loft conversion meets all necessary building regulations and maximizes its potential value.
8. Can a loft conversion be used as a bedroom?
Yes, a loft conversion is commonly used as a bedroom, providing an additional living space in the property.
9. Can I convert my loft myself?
DIY loft conversions are possible, but it is recommended to hire professionals with experience in loft conversions to ensure safety, quality, and compliance with building regulations.
10. Can a loft conversion be used for other purposes apart from a bedroom?
Absolutely! A loft conversion can be adapted for various purposes, such as a home office, playroom, gym, or even a hobby room.
11. Will a loft conversion affect my property’s resale potential?
On the contrary, a well-executed loft conversion can increase the resale potential of your property, making it more attractive to potential buyers.
12. How much does a loft conversion cost on average?
The cost of a loft conversion can vary significantly depending on the size, complexity, and location. On average, you can expect to spend between £20,000 to £40,000 for a standard loft conversion.