A loft conversion can have a big impact on the value of a property. Surveys down the years have shown that there can be a significant boost in the price of a house following its addition.
It has been shown that a loft conversion can add around a fifth of the existing value to a property. As a result, it is not a bad idea to think about such a way forward. However, some research has shown that a gain of almost a quarter of the original value may be possible in some circumstances, so it’s worthwhile assessing the situation in greater detail.
Remember that the price a seller gets for a property may be influenced by many factors. The full benefit of a loft conversion in financial terms will not be achieved by someone who is determined to make a quick sale, nor will it be achieved if somebody puts off selling their residence for a long time and does not take proper care of their property, hence timing could be critically important for profit maximisation purposes.
However, there is another reason why timing a sale is likely to have an impact on the consequences. The housing market in the UK is regional and prone to considerable variation. The money which is invested in a loft conversion will generate a positive return if the house is sold at a time when the local housing market is buoyant.
It pays to remember that there are other values than monetary ones involved in loft conversions. Many homeowners do not want to dispose of their property immediately. As a result, they would like their loft to contribute to the liveability of their house. For these individuals, the pleasure they or their family experience in their fresh space is of genuine significance.
