The population of Wellingborough has seen more than an 18% increase over the last 30 years, with the surrounding towns and villages seeing a similar increase, and this is only set to continue. With this increasing population, finding a property with the living space you need may be difficult. However, a loft conversion can help satisfy your needs, while having the potential to be a cheaper and less time-consuming option than relocating to a new, larger home.
Benefits of a loft conversion
When it comes to loft conversions there are several benefits as a homeowner. Firstly, loft spaces can be quick and easy to transform and can create an additional multi-use room from empty space that otherwise would not be used. Furthermore, loft conversions have the potential to save a lot of hassle, as the alternative would be to relocate to a larger, more expensive home for more space.
According to Green Age, on average 25% of the heat produced within your home will escape through the roof. As part of your loft conversion, you can install insulation into the roof to make it more energy-efficient, thus, reducing your carbon footprint and saving money on your energy bills.
Full planning permission is also rarely required for a loft conversion, as they are classed as permitted developments unless they require a complete change to the appearance of your home – making it a potentially cheaper alternative to an extension.
Lastly, a loft conversion can add value to your property, making it a great investment if you do decide to sell in the future. Potential buyers or tenants always look out for features that make a property stand out from others and a loft-conversion may make your property more enticing.
How much value does a loft conversion add to a home?
According to Home Owners Alliance, a loft conversion can add up to 20% to the value of a property. Corby’s average house prices sit at around £200,000, therefore, a loft could have the potential of adding up to £40,000 to your listing price. This means that your house will not only be more sellable, but you’ll get more bang for your buck too.
When making a loft conversion it is important to start by assessing whether your space is suitable for conversion. There are three key measurements to take;
- Internal height – this needs to measure 2,500mm to suitably convert
- Roof pitch – the higher the pitch angle, the higher the central head is likely to be
- Footprint – internal rules should measure 5,500mm side to side, with the chimney, and 7,500mm front to back
On average, the cost can be between £15,000 and £70,000 depending on the type of loft conversion. These costs are broken out throughout the stages listed below and will differ from house to house;
- Loft conversion plans
- Possible planning permission costs
- Building regulation costs
- Loft building costs
- Miscellaneous costs such as decorating and furnishing
Speaking to a well-established architect or building company will help you understand the costs involved for your property.
Here at Simpson and Weekley, we offer expert advice on how much a loft conversion could increase your home’s value, allowing you to weigh up the costs before committing to the job. Call us today on 01933 224953 or email wb@simpsonandweekley.co.uk for our Wellingborough offices or call 01933 418917 and email rushden@simpsonandweekley.co.uk to speak to our team in Rushden.