What is the most cost effective loft conversion?
A cost effective loft conversion is one that improves your home and quality of living, while being good value for money. However, this assumes you’re going to live in the property afterwards.
While most homeowners use a loft conversion as a means to stay in the family home, property developers are mainly interested in the value that’s added to a property by a quality loft conversion. Here, we’ll gather the prevailing market estimates from a variety of sources to give you a good idea of whether a loft conversion will boost the market value of your property.
Pricing a Loft Conversion
The cost to convert a loft varies drastically depending on a number of factors. Loft conversions can range from £20,00.00 to £50,000 and beyond. The major factors that affect price are the size of the property; the location of the property; whether the roof needs alteration to accept a room and additional luxuries such as en suite bathrooms, dormer windows and so on.
What the Experts Say
According to Nationwide, the average loft conversion adds 21% additional value to a property. This means for a majority of property developers who want to maximise their return on investment, a loft conversion is typically worth double what you’ll pay to have the conversion built in the first place.
Similarly, Phil Spencer (estate agent expert and TV personality) found that among a survey of 110 estate agents, loft conversions contribute on average 12.5% additional value to a home.
The difference between the two surveys is that the Nationwide survey only included conversions that incorporated an en suite bathroom. So, if you can afford to invest in an en suite, it makes sense in terms of the home’s functionality and from a financial perspective.
To conclude, if you are looking to add value to your home or maximise the return on investment in your latest project, a loft conversion with en suite cannot be beaten for value. However, if you are looking to improve the space and function of your current home, then you should build your ideal loft conversion and not focus on added property value. After all, whatever you need your conversion for, it is bound to be a sound investment and an asset to any home owner.
NK Lofts specialise in loft conversions, dormer conversions and garage conversions. Our team of professional contractors have been serving customers throughout Cambridge, Coventry, Leicester, Oxford, Northampton, Wellingborough and the surrounding areas for many years. We’re proud to offer a comprehensive service including a free site survey and quote, and deliver projects in 5 to 7 weeks depending on the build. Our team have earned us a 5 star review average and with 10 year guarantees on all works, you’ll always be 100% satisfied with a loft room from NK Lofts. Call us today to find out how we can transform your home.