There’s a pretty good chance that if you’ve landed here you’re considering a loft conversion for your home, or at least some sort of a home improvement project to either increase the value of your home or to create extra livable space.
In this guide I’m going to be going through some of the best ways to add value or space to your home through several different methods such as different types of conversions, Home Extensions and many others.
Generally the reason why people undergo large scale home improvement projects such as a basement, loft (attic) conversion or a home extension is to either increase the value of their home (whether they are going to be selling or not) or to create extra livable space for a whole host of reasons such as a growing family or a relative moving in with you.
Through recent studies it’s been found that a home improvement project can increase a home’s value by as much as 23% this is typically done by an extra bedroom or two being added to the home creating more livable space which is always attractive when people are looking for new homes. In regions such as Manchester, Birmingham or Liverpool where house prices are exuberant undertaking a home improvement project could pay dividends of tens of thousands of pounds in the value it adds to your home.
When it comes to adding more value through space to a home there are three mains projects people tend to consider.
Basement Conversions – Building Down!
The first one I’m going to be going through is a basement conversion. As planning laws becoming increasing difficult to get around and many buildings being listed buildings meaning you can do very little to them. Many residents in West London areas such as Chelsea and South Kensington have chosen to build downwards where there is in effect unlimited space. We have seen an increase of these iceberg like homes (if you can call it a home sometimes they feel like some underground lair built for a baddie in an Austin Powers movie….I wonder what ever happened to Mike Myers?) with massive underground facilities which you have no idea is there from the street view.
This is of course an extreme example of a basement conversion which is hardly worth doing for the average homeowner however you can simply convert your basement from a dusty, space underground to somewhere where you could perhaps put in a games room, additional bedroom or just general storage space. These tend to be secondary projects after people have already done a loft conversion and still need additional space for their homes as loft/attic conversions tend to be more popular as you can get natural light and more people are familiar with it.
Home Extensions – The Old School!
Adding an extension to your home is one of the oldest methods of creating additional space, in fact if you look at older buildings (couple hundred years old) you can often clearly see that it was simply extended upon when the space was no longer sufficient enough.
“This is still used today especially by extending the home further into the garden creating extra space for more rooms or some sort of a conservatory” says Jonathan Kite an estate agent from Knight Frank in South London. This method has always been popular and will continue to be extremely popular with people extending their whole home or sometimes just individual rooms for example a kitchen extension to create additional space in a kitchen which tends to be a popular choice with several adverts constantly being shown on television.
A Loft Conversion – In Our Mind the Best Choice!
The Third Option and the one that this guide will be focusing on will be Attic Conversions. A Loft Conversion is the standard go to for homeowners who want to add value to their homes, as their popularity has increased and more homeowners have opted to do them we have seen more construction companies specialize in this and have seen price cutting making it tremendously cheaper to do or finance. This is specially true for areas such as East London and North London where prices have skyrocketed where residents may have significant equity in their homes however not enough cash to go through the expensive process of moving
Attic conversions are typically used to add bedrooms or bathrooms in a home to create space which in turn raises the price of a home.
So….Should I move or extend?
If you are not thinking of selling your home this is also an attractive offer when you compare the price of moving to a new home, a lot of people tend to opt for just creating more space in the home they already have. This is generally the case when a family grows through having more children or having relatives come to live with you.
In addition to that a lot of people don’t want to leave their area as they have built relationships, the kids are already in school and you simply don’t want to move or can’t afford to move to a home with more space. If you take into consideration the legal costs, stamp duty and moving costs associated with moving many times a home improvement project just makes more sense.
I hope you have found this guide useful to find out more information about loft Conversions such as design ideas, planning permission and how much loft conversion cost please check out our other articles.
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