Converting a Loft: Is It for Me?

By March 21, 2016Blog

Loft conversions in London are fast becoming very popular, with increasing numbers of people converting a loft for a property they own or manage. With there being countless types of loft conversions and extensions on the market, from Victorian extensions to mansard conversions and everything in between, you’re never short of choice.

Apart from adding another level and storey to your property, a well-built, well maintained loft conversion has so much to offer you, your family, any tenants and the surrounding area of the property.

The average conversion does not take long to complete and shouldn’t cost you the earth either. What’s more is that there are quite a few lenders and loan providers out there who will gladly offer loans for loft extension and conversion projects.

When done properly and efficiently, converting a loft can see your property’s size, value and space on offer increase. It may also be the pathway you have been looking for to get you that little bit of extra income; through rental that you and your family need to tide you over every month, making your lives that bit better.

Popular Reasons to Convert your Loft

In past years, converting a loft was seen as a luxury and something that was certainly not needed. In fact, to many, converting a loft was just unnecessary and a hassle not worth investing in. however, nowadays things have changed with more and more properties in London and beyond having been subject to one form of a loft conversion or another and for good reason.

While naturally, there may be a brief period of noise and some dust from the works carried out to achieve that dream loft, the benefits and positives that come with a quality loft conversion far outweigh a couple of weeks of noise.

What Will I Gain?

Increased Space – With a new storey added to your property, the first and most noticeable change will usually be the increase in space that comes with all that work that was carried out. Gone is the waste of space that many use as storage loft space and in come some new rooms and floor space for you and your family to enjoy.

Increase in Property Value – An average loft conversion can easily add up to around 20% to the value of your property. So for example, if you live in a London property valued at £500,000, by converting your loft, your property could see its value rise to around £600,000! Not only will you have more rooms and space to offer potential buyers, but by adding more rooms, your property will comfortably be fit for an increased number of occupants.

No Need to Move – If you are looking to move properties due to a lack of space, a loft conversion may be the more affordable and convenient option. By adding one, two, three or more rooms to your property depending on the space available, you and your family will be able to enjoy vastly increased space and you will be able to avoid the hassle of upping and leaving your home.

Planning Permission – It has become much easier to acquire the correct planning permission to undertake the works for a loft conversion. Councils and governing bodies have become far more accustomed to more people seeking an increase in space for their property, that they are more likely to give out the permission you need, as long as a few criteria are met.

Increasing Your Income – By converting your loft into a ‘granny flat’ type project, you could increase your monthly income by a few hundred pounds.