How much value can a loft conversion add to your home?
A quality loft conversion is a great way to expand the family home so that you don’t have to move and can improve the quality of your home life. But not all loft conversions are built to provide a family with more room. Some are carried out to improve a home and make it ready for resale.
In this case, it’s worth knowing how much value a loft conversion adds to an existing home. Here, we’ve gathered market estimates from a range of sources to give you the bigger picture when it comes to the return on investment you can expect from a loft conversion.
How much value can a loft conversion add?
Research by Nationwide found that the average loft conversion adds 21% to the value of a property. For property developers who want to maximise their return on investment, this means that a typical loft conversion doubles in value when compared to the price paid to install it.
Phil Spencer (housing market expert and TV presenter) found that loft conversions contribute an average of 12.5% value to a home. This was based on a survey of 110 estate agents. You may be asking yourself…
Why do the surveys return different results?
It seems there is a discrepancy between the surveys and you’d be forgiven for dismissing them on these grounds. However, don’t be too hasty.
When you examine the surveys, you’ll discover the Nationwide survey only included loft conversions with an en suite. The survey led by Phil Spencer included every type of livable loft conversion with flooring, heating, insulation and electrical sockets.
A loft conversion represents a significant return on investment when it comes to selling your home. Whatever you decide, the most important thing is that the loft conversion improves your home life and works to benefit you at the time of completion.
However, it’s worth considering investing in an en suite bathroom on this floor as the returns gained when selling the house are significant when compared to loft rooms without en suites.
NK Lofts is proud to provide first rate loft, garage and dormer conversions in Coventry, Northampton and Peterborough. We take every step to ensure your bespoke loft room is tailored to meet your needs and satisfies building regulations, so you can enjoy a safe, warm and energy efficient loft environment. Our experienced team are ready to answer any questions you may have about conversions and even offer free surveys and quotes. Add value to your home today by calling the friendly team at NK Lofts.