Here, David Knight, from roof window retailer Roof Windows 4 You, explains the ways a loft conversion could add extra property value to your home.
When it comes to property value, there are many things that can affect it. The number of bedrooms, energy efficiency, good views and natural light all play a part in attracting potential buyers, and a loft conversion can help you incorporate all four of these aspects. Below, I’ll be going into more detail about how a loft conversion could help you see a bigger return on investment.
The most obvious advantage of a loft conversion is the extra space it can grant you, and buyers are willing to pay more for an extra bedroom. On average, converting a three-bedroom home to a four-bedroom could increase its value by around 43%, according to research conducted by Safestore. Plus, adding an en suite to the new room could boost your home’s value even further.
A loft conversion is probably the easiest way to add an extra room, too. It can often be a lot quicker and cheaper than a traditional extension, as you’re building into space that’s already there. You also won’t be eating into your outdoor area — which is another desirable factor for house hunters — so it can be a better investment in the long run.
Last year, 84% of homeowners said that they saw natural light as an important characteristic when buying a new home, according to research conducted by Express Bi-folding Doors. These homeowners also stated that they would be willing to pay around £4,786 above their budget for a home with plenty of natural light.
Adding a loft conversion gives you the opportunity to install large roof windows as part of your design. These will flood your newly converted room with light, which can help to improve mood and wellbeing as well as reduce eyestrain and headaches, while making your home more attractive to potential buyers.
A converted loft naturally has a much higher view from its windows compared to the lower storeys. If you add balcony windows overlooking the garden, it can give a much more pleasant view that isn’t as overlooked by your neighbours. If you live somewhere particularly scenic, buyers are usually willing to pay more for a peaceful landscape. But that’s not to say a good view in an urban area isn’t valuable. Because pleasant scenery can be rare in the city, house hunters will often spend more for a unique view from their home.
With climate change becoming more of a concern, many potential buyers are willing to pay up to 14% more for an energy efficient home, according to a report by Money Super Market. As far as specific cities, towns and villages go, Litchfield has seen the biggest monetary increase in the UK when the energy rating is raised from D to B or A. But how can you improve your energy efficiency rating with a loft conversion?
Approximately 25% of your home’s warmth is lost through the roof, according to The Green Age. The process of converting your loft involves adding insulation to your roof, which will trap the heat into your home and reduce the amount that is lost. Add to that the installation of double-glazed roof windows and you’re going to be spending a lot less on your energy bills. Lower bills and energy consumption is a double win for house buyers, so they’ll be willing to pay just that little bit more.
These are just some of the ways a loft conversion can boost the property value of your home. By adding an extra bedroom, incorporating natural light, creating a better view and improving your energy efficiency rating, you can make your home more desirable to house hunters, and you could see a bigger return on investment as a result.
Posted on August 14, 2019