Loft conversions are an excellent way to get more out of your existing property, especially in space-premium areas like London. While it is always possible to expand a property into the rear garden of a property, not all London lots, have a lot of space to work with, and removing the natural element from a property can be disastrous for the value and the quality of life of your property as a whole.
Overall Value Added from Loft Conversion
Loft conversions from top providers like Touchstone Lofts are high in demand, especially for London properties where, on average, homeowners can expect an increase in their home’s value between 20% and 30% with a loft conversion North London. Loft conversion options can often feel complicated, between Party Wall Agreements and, of course, planning permissions, but one of the benefits of choosing an experienced company is that they know how to handle it all, and in 98% of cases get the permission you need to expand your home.
Type of Room Addition
The cost benefits and value that is added to your property will depend entirely on the type of room you add.
The type of room that adds the most value to your property is by far a bedroom. Going from a two-bedroom to a three-bedroom property is a huge jump in value and puts you on another tier entirely. On average, an extra bedroom will add around £30,000 to your property’s value, though this will naturally increase the longer you have the property and (hopefully) the more the area around you develops. If it becomes more popular and the area around it is developed, your now-three-bedroom home can be a hot ticket property.
An extra bathroom can be a great choice for any property and can add around 5%, or £15,000, to a home on average. That being said, you need to be careful of the placement. En-suites are in high demand because of the comfort and ease of access they offer, so if you are considering adding a luxury bathroom to your attic, you need to be mindful of the effort that this takes. It will be on your top floor, and unless you don’t have a proper-sized bathroom to start with, you may want to instead look at renovating and working with your floorplan on the lower levels instead.
Not every loft will be large enough to fit a bathroom, much less a bedroom, but that doesn’t mean that there still isn’t a benefit to converting the small amount of loft space so that you have access to it. Storage space is a high commodity in London, especially when you consider the alternative for renters and homeowners alike is to rent a storage unit separately from their property. The value you add to the property will not nearly be as high, however, so it is best done for property owners looking to expand their London property’s liveability rather than those looking to increase the overall value.