Do Loft Conversions add value?

Often, and especially during low periods in the real estate market, owners will look for ways to add value to their properties rather than wait for demand to drive up prices naturally. Research from Abbey National Mortgage shows that nearly half of UK homeowners now choose to extend their properties versus upgrading and facing the financial and practical hassles of moving.

How much value to loft conversions add in London

The Nationwide Building Society claims that adding an extra bedroom increases the value of a property by an average of 6%. A survey conducted by the National Association of Real Estate Agents supports this claim. More than 40% of surveyed members believe that creating additional living space is the best way to add value to a property. Of the many forms this home improvement can take, none is more lucrative than a loft conversion. It can be worth a more than 20% percent increase to the value of the home according to Nationwide's research. A loft conversion is the transformation of empty attic space into proper living quarters. A conversion gives the owner access to up to 30% of unused space in the property. Furthermore, a property improved in this manner will stand out favourably against similar property types in the area. It is no wonder that loft conversion is an increasingly popular form of home improvement.