For many people their attic space is solely used for storing bits and bobs they want to be kept out of the way. However, it has much more potential than that. As the price of housing increases people are beginning to realise how they can convert their attic space into a habitable living area or new room. It can provide your home with additional living space and in fact there are five key benefits to converting your loft.
Affordability
Having your loft converted is a much more affordable option than buying a new home. A new home is considerably more expensive than having your loft converted and that’s not including all the administrative costs. If you need more space in your home and think that means you need a new property, consider a conversion instead.
Energy Efficient
Lofts are an energy efficient home development. The space is likely to be already insulated and due to its position at the top of the house you’re very unlikely to need to switch on the heating up there. Even throughout the winter is can usually be kept off or only on a low setting, saving on your utility bills.
Valuable Development
Having a loft conversion done will increase the market retail value of your home. A new loft development has been shown to increase the value of a home by up to 40%. This is something which particularly appeals to landlords as a small renovation can provide even more living space and therefore even more rental opportunity. With our towns and cities getting more and more densely populated building upon the homes we have is essential.
Rental Potential
As already mentioned there is great potential for renting out a converted loft. Young professionals, couples and students buy into the studio apartment thing and therefore you converted loft could earn you some cash back. It’s a great additional income source. There are many ways of keeping this new living space separate from your own for privacy purposes. In some houses it’s more than possible to have an extra external entrance fitted. If you don’t plan on renting to strangers then it’s also a great additional suite if you have guests visiting and also likely to be taken over by the children when they reach their teenager years.
Maintenance is Minimal
Maintaining your new development is minimal and this is because it’s developed within the structure of the already standing home. The maintenance of your loft is treated exactly the same as the maintenance of any room in your home.
Don’t Forget Planning Permission
The majority of extensions and additions to your home will require you to get planning permission. However, most loft conversions don’t fit into this bracket unless they’re particularly extravagant and changes the outward appearance of your house. This means a conversion is a great idea if you don’t’ want to be forced to wait for the paperwork to be processed for an extension or other home addition.
Loft conversions significantly improve the value and functionality of your home and are a positive investment for its future.
