When built legally and to a high standard, loft conversions almost always add value to a property. Monetary value as well as personal value are both significant reasons why homeowners might wish to convert their loft space. Market value and desirability can greatly increase, especially if loft conversions are rare among your neighbours.
Here are some key points when it comes to boosting the value of your property with a loft conversion.
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Increased Property Value
The general consensus among estate agents is that a well-done loft conversion can boost the value of a property anywhere from 15-25%. Extra bedrooms or bathrooms offered by a loft conversion are more likely to increase value, as they are most popular for potential future buyers.
Cost-Effectiveness
Loft conversions, compared to other kinds of property extensions, are generally a wiser choice when it comes to value added versus investment required. Even smaller loft conversions can add significant value in neighbourhoods that are pushed for space. Add in high quality decoration and finish, or a particularly savvy use of an unusual space, and it’s a no-brainer.
Enhanced Market Appeal
Properties with loft conversions on the market attract more attention from potential buyers, streamlining your sales process and encouraging competitive offers. The increased levels of natural light, privacy, and the view, all give you an edge over similar local properties. If the conversion has been fully furnished and requires no further decorating then the appeal is even greater, as new house owners will want to keep any works to a minimum,
Location Impact
The value that a loft conversion can add to your property is majorly dependent on location. A loft conversion in a big city, where space is limited, will be sure to elevate your value and curb appeal. A loft conversion in a rural area with low demand might not be as likely to deliver the same results. However, if the space is used for something specific, like a music studio or walk in wardrobe, that will give you a USP for potential buyers.
Potential for Increased Living Space
For many who carry out a loft conversion, the value is in the space and the improved quality of life, just as much as it is in the financial gain. An extra bedroom can provide a place to stay for friends and family who come to visit, or independence for a child previously sharing with a sibling. An at-home office can provide that much needed quiet zone needed for concentration and productivity.
To find out all of the ways that a loft conversion can benefit your life and property, contact us here at SimplyEasy Refurbs for a conversation and free quote from one of our loft conversion specialists. Call on 0203 648 9687 or fill out one of our online enquiry forms.
