We all want to make a great return on investment when it comes to selling our homes, and taking the time to think about how you can improve your home will pay dividends. A loft conversion is one of the most popular home improvements. Not only does it open up extra, functional space, but it's also one of the best ways to add value to your property. Here, David Knight from Roof Windows 4 You shares his tips for increasing the value of your home with a loft conversion.
Our homes are our pride and joy, so it's only natural that we want to make them as stylish and functional as possible. But what many homeowners don't realise is that there are certain areas of your home you can transform to add significant value to your property price. A loft conversion is among the most fruitful of developments you can make to your house, taking it from a space occupied with clutter and junk, to a liveable area.
Whether you turn it into a relaxing area your kids can go to hang out after school, or use it as a spare bedroom, there will be plenty to plan. In this article, I will be sharing my top three tips for adding a loft conversion to increase the value of your property.
Check if you'll need planning permission
Before you begin planning a grand loft conversion, you'll need to familiarise yourself with the rules and regulations that surround home developments. There are certain criteria that will limit what you can do with your loft space, and in some cases, you will need to apply for planning permission before converting your loft.
In short, any change you make to your home must adhere to the The Town and Country Planning (General Permitted Development) (England) Order 2015, and an architect or builder will be able to confirm this for you. If you're still unsure, our guide to loft conversion planning permission has advice on this.
Consider the cost and ROIWhen you're making changes to your home to add value, it's important that the cost of the development is less than the return on investment (ROI) you'll get. Loft conversions can be particularly lucrative projects, with a report by Nationwide Building Society revealing that these could boost your property's value by up to one fifth. This report found that adding a bedroom and bathroom can add the most value (20%), while creating an extra bathroom can add around 5%.
A loft conversion can cost you anything from £15,000 for an extra room up to £40,000 for work that involves changing the roof structure, so it's important that you get a quote before you begin any planning. Applying for planning permission costs too, so it's important to take all of this into account when weighing up the return on investment — especially as you'll only see this return when you come to selling your house.
Decide what you'll use the space for
As mentioned previously, there are some conversions that are more desirable and therefore will make your home more valuable. Extra bedrooms and bathrooms are a priority for most people, especially those with growing families.
Despite wanting to get the most for your property, it's important to remember that this is your home and the converted space needs to be somewhere functional that your own family will actually benefit from. Whether you want to give the kids and their friends somewhere to relax over the holidays, or you need a quiet office space to work or develop your hobbies and interests, creating your own little hideaway can be useful and appeal to potential buyers in future, too.
Just remember that if you're turning it into a liveable, functional space rather than a place for extra storage, you'll need to ensure there's enough natural light coming through. Roof windows are ideal for this as they can seamlessly sit on the slope in your roof and won't necessarily require structural work to be carried out on your roof.
A loft conversion can open up unused space and give your home a little something extra. Take my top three tips on board to ensure you're adhering to planning laws and are creating a space that will add value to your property.