Loft conversions – do they still make financial sense?

When looking to increase space in your home one of the most popular choices has often been to go upwards into the loft, but with soaring building and timber costs does this still represent value for money?

Average building costs are around £250-£300/sq ft so a couple of bedrooms and a bathroom could cost around £120,000 but could add around £150,000 to the value of the home thereby making this a good investment.

Adding an extra bedroom and bathroom to a smaller house will be more likely to increase its value as you are widening its appeal to a larger market sector. However, adding too many bedrooms and having not enough living space to accommodate everyone or ending up with an unbalanced home or overdeveloped plot will not be attractive to buyers, even if it works for you.

In the current market, with falling house prices, a loft conversion in some areas is unlikely to add value in the short term but stay put for a few years and a well-balanced conversion is likely to give you a good return on your investment.

As is the case with all significant building projects, you will need a structural warranty. Please contact Granite Building Warranties are specialist independent brokers of building warranties for the construction industry and for a quote or further information please contact Ed or Kelly on Tel: 01284 365345 or email ed@granitebw.co.uk / kelly@granitebw.co.uk