If carried out 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 an individual 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, due to these being heavily desired by potential 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. Everything, of course, is context-dependent.
Enhanced Market Appeal
Properties with loft conversions on the market attract more attention from potential buyers, streamlining your sales process and encouraging competitive offers.
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 results.
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 Simply Easy Refurbs, the loft conversion specialists, on 0203 648 9687 or fill out one of our online enquiry forms.
