Do loft conversions add value? 1/14/2012
What’s the best way to increase the value of your property? Here is how Phil Spencer, from Channel 4’s ‘Location, Location, Location’, suggests you do it:
Go for a loft conversion!
It’s the easiest way to get an extra bedroom and bathroom. It’s not particularly disruptive, either, as most of the work can be done from outside. The key thing is to make sure access to the loft is easy and that the conversion fits the rest of the house, rather than looking grafted on.
You will have to strengthen the floor joists, which will raise the floor level, so make sure you leave yourself with sufficient ceiling height to stand up in.
Spend £20,000 on a loft conversion and you can add £40,000 value to your home. I am always wary of quoting figures, but for the purposes of this article, I am using a survey of 110 estate agents, carried out by mortgage lender GE Money, which concluded that a loft conversion adds an average 12.5 per cent to the selling price.
Follow this link to read more: Phil Spencer from Channel 4
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