Are you planning on having a loft conversion? It can be a stunning addition to any house, which brings new space into your home, and is designed to add value to your home. It is important to look at a few factors to look at before making any hasty decisions, including the price and what type of permission you may need. Planning permission is important and can cost a fee – so the question is when loft conversions can cost anything up to £50,000, is it really worth it and do you really need one?
The matter is subjective. There are many types of loft conversions and everyone will have a different idea of what they want. A standard loft conversion or (Velux loft conversion) is what most people opt for and you will need to look at the following:
- Reinforcing floor to ensure you can walk on it and that it can hold furniture.
- Adding skylights for light.
- Added insulation for warmth.
- A staircase to the loft which may be a pull-down ladder.
- Electrics, lighting and heating.
- Fire safety measures.
These most likely come as standard at the price but any loft conversion can take time and can also be disruptive to your living. A dormer loft conversion, for example, is an upgraded version of a standard room in a roof loft, with additional dormer windows (read more about dormer windows here). This is where you can create a workable floor space to be used as you wish, which brings a better height to the area and access options such as bathroom and bigger windows. This type of loft conversion is generally more expensive as you’ll be hit with re-roofing costs too.
Typically, a rear dormer loft conversion on a terraced property will take four and a half weeks to complete but it may go up to around 6 weeks. If this is something that you think is going to hinder your life then maybe you would need to either spend time living away from the house or not consider the option at all. Although the mess and description of the house should be minimal, it depends on how your home is positioned and if workers have to go through the kitchen or living spaces to get to your stairs. It can also be loud.
How much value will it add and does it provide ROI?
A dormer loft extension will cost upwards of £30,000 and can reach anything up to £60,000 for the most luxury extensions. If we look at one as standard for £30,000, is that going to add more to your home value? It is believed that it can add between 10–20% to the value of your home, according to Ideal Home. So really if your home is only averaging it £200,000 then it isn’t going to add as much as it would to a property that is worth £400,000. So really, the ROI may be profitable in some way but also it may only just make you break even. However, if you are getting a loft conversion for its benefits to you and not to add home value then perhaps to the money spent will be entirely worth it.