“Tempted to spend your on a loft or garage conversion? Here’s why it’s a wise move indeed.
When it comes to creating a great new living or storage space, loft and garage conversions really are the cat’s pyjamas of home improvements. Not only will your family be blessed with an extra room to roam around in, but as your house grows, so too will its value – projects such as these can bump your asking price by up to 15%.
1. Increase your house value by as much as 15%
Short term pain, long term gain. Spend just six to twelve weeks, and around £20,000, converting your loft to add a potential 12% to the value of your house. For the average UK home, that’s currently as much as £27,946.20. So start planning your loft conversion if you can measure 230cm from the floor to the tallest point of your roof.
Want more? Well, a £10,000 to £15,000 garage conversion could get the average UK homeowner a whopping £34,932.75 extra if you decide to sell up. That’s up to 15% more on your house value for a space most of us neglect terribly – Huffington Post reported that 90% of all UK garages don’t even contain a car. So what are you waiting for? Attic and garage conversions are proven to be profitable investments.
2. Gain an extra room without moving home
Why uproot your family, pay stamp duty and deal with estate agents when the extra space you need is right under your nose? Loft and garage conversions unlock a sizable amount of room for you to have your wicked way with. Imagine an extra bedroom, bathroom or granny annexe, a new playroom for the kids, a study or home gym. All born out of a space that many of us under use.
If you have particularly grand ambitions, and the loft space to match, you could even set about creating a split level loft conversion – a cosy living area, topped by a quiet bedroom, escaping the noise from the rest of your house.
3. Easier than building a brand new extension
Double check with your local planning department, but as a general rule, you don’t need planning permission to convert your loft or garage – unlike extensions and conservatories, you’re not technically expanding your house. That means you could start your loft or garage conversions sooner and save application money in the process.
If the price really is your sticking point, well, listen to this. Single storey extensions can start from around £30,000 or £45,000 (before VAT) for a double storey and they eat up valuable garden space – which is a big issue, because a well-maintained garden can add 20% to your property value, £60,000 on UK average. Meanwhile, loft and garage conversions are vastly cheaper – and in many ways, superior.
Via #InspireLSHome
