Regularly cited among the top ten ways to add value to your home, a loft conversion could be incredibly cost-effective in increasing both the living space and the value of your house. And although it requires substantial retrofitting and adjustment, once done, you probably won’t regret it.
Read on to find out more about the potential gains you could make by converting your loft into a modern and usable space.
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How to Perform a Loft Conversion?
It is important to remember that loft conversion is an umbrella term for a series of changes and retrofitting that is meant to make the attic into a livable room. The actual process changes substantially from one house to another, and there are four types of loft conversions.
- Roof light conversion: The simplest and least expensive method of making a space usable is adding only flat glass rooflights, flooring, and a stairway.
- Hip-to-gable conversion: Hip-to-gable conversions include extending the sloping “hip” roof at the side of your home outward in order to build a vertical “gable” wall. Although more expensive than roof light conversions, they are also more popular because they offer more usable space.
- Dormer conversion: Dormer conversion refers to the construction of an addition with a sloped roof (typically). The most common conversion style, appropriate for almost any home with a sloping roof. But keep in mind, this type of conversion will require structural changes to your home.
- Mansard conversion: The mansard conversion, which is typically the most expensive, entails an addition that runs the whole length of a home’s roof and modifies the angle of the roof so that it is nearly vertical. If comfort is paramount to you, this is typically the conversion you go with.
So, which one should you choose? The conversion that’s right for you will depend on three things:
- The pre-existing structure of your home.
- The main goals of your loft conversion.
- Your budget.
- And, last but not least, the housing market in your area.
Do Loft Conversions Really Add Value?
In short, the answer is yes. Having more space, an additional room is naturally valuable for most people. As an example, if the loft conversion creates 24 square metres of additional space in your house, you might increase the value of your home by up to £100,000 or more depending on where you live and the value of properties in your area.
Now, as we mentioned above, not every loft conversion is the same. To further complicate the matter, depending on where in the UK you live, the value of housing can be very different. Homes in the North East may gain up to £38,000 in value, whilst the same amount of space in the South East would fetch approximately £98,000. It’s important to keep in mind that this number will change depending how close to financial and business centres your home is located.
If your home is in London, space there, obviously, comes at a high premium, and as such, loft conversions will add a substantial amount of value to your property. In the capital, adding an additional bedroom with an en suite bathroom may increase the value of your home by an incredible £200,000.
How Much Do Loft Conversions Cost?
Normally, a loft conversion costs between £21,000 and £44,000, but if you want a really huge expansion, you might easily pay up to £63,000 for one.
We went through the types of loft conversions above, and naturally, they cost different amounts:
- A roof light conversion costs around £20,000, more or less, being the cheapest.
- Hip-to-gable conversions are substantially costlier and can cost as much as £70,000. However, you can also get ones as cheaply as £40,000.
- Dormer conversion strikes a decent balance, and you can get one as cheaply as £30,000. If you want something particularly fancy, however, dormer conversions can be as expensive as hip-to-gable conversions.
- Mansard conversions are the most expensive, and practically, this means they usually cost about £20,000 more than a simple roof light conversion. That being said, they also add the most value to your home.
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What Does Impact Loft Conversion Cost?
The type of the conversion isn’t the only thing that impacts its cost. There are many other variables that will ultimately determine how much the conversion costs.
- Conversion size: simply, the conversion will cost you more money the bigger the conversion. Although, the bigger the conversion, the more it costs — you have to remember that bigger conversions still cost less by square metre, and that’s why it is usually more cost-effective to save up a little longer and complete the job properly the first time rather than starting with a smaller-scale project that isn’t as big as you’d want.
- The roofing material: It makes sense that the type of roofing material you select would impact the cost. If you choose GRP roofing, for example, it will add a substantial amount of cost to the project’s overall budget. You need to keep that in mind.
- The windows and glazing: The type of window or glass you select will affect the cost, much like the roofing material. Costs may increase or decrease depending on the kind of glazing used, the type of window frame, and the materials used.
Conclusion: How Much Does a Loft Conversion Add to House Value and Is It Worth It?
In this article, we went over the different types of conversions, what impacts their costs, and how much value they add to your home. Whether they are worth it or not will ultimately come down to individual circumstances. By taking into account every variable we presented in this article, you’ll be able to better answer that question yourself.
