General Builder/ Working Foreman – Palmers Green N13November 15, 2017
Loft conversion to a walk in wardrobeFebruary 7, 2018
When determining the price of a property, a lot of factors come into play. How to add value to your property though? The most apparent one being location. What follows is the size of the property, the number of bedrooms the property has, and whether there were any forms of improvement that were made i.e a loft conversion or the addition of a conservatory.
According to research, the addition of a loft can add up to £42,000 to the value of a property. With the addition of the loft, comes the possibility of the addition of a bathroom as well as a bedroom within the loft.
- The addition of a bathroom adds at least £10,000. Overall, increasing the floor area by 10% could add another £10,000, or 5.1%, on to its worth. On the other hand, the addition of a bedroom can boost the value of a home by 11%.
- The addition of of this extra space, i.e making a better quality accommodation results in the possibility of requesting higher rate in your property.
- It’s said that homeowners who add a loft conversion or extension incorporating a double bedroom and a bathroom can add more than 20% to the value of a three-bedroom, one-bathroom house.
- Increasing the floor area to add an additional bedroom of 13 square meters could add 10% to the value of a terraced house or 10% to a semi-detached home, when upgrading from two bedrooms to three, according to Nationwide’s analysis.
- If a homeowner were upgrading from a three bedroom to four, this could add 10% to the value of a terraced home, 9% to a semi-detached home and 9% to a detached home, it said.
In many cases a loft conversion is considered permitted development so you won’t require planning permission.