Why Are Loft Conversions So Popular?

Why Are Loft Conversions So Popular?

Why Are Loft Conversions So Popular?

Quality loft conversions can be a really good alternative to moving house if you are looking for an extra room. London and the south east house prices are very fickle often declining, it can be a big risk to move house just to gain an extra room and it could turn out that you end up losing a lot of money. With the additional costs of stamp duty, increased mortgages, conveyencing fees and paying removal companies it can really be expensive.

But you really need another room so what can you do? A loft conversion is a very good idea as it will meet your requirements for that other room and it will add value to your precious home. A leading high street building society - the Alliance and Leicester - discovered that a well planned and built loft conversion can see the value of your property soar by as much as ?40,000.This also means of course that you don't have to move house and you can save a considerable amount.

In 2008, the planning laws were changed and this resulted in a huge increase in the number of loft conversions. What it means is that the majority of loft conversions don't require formal planning permission but instead can be constructed under a term called "permitted development". Building regulations are a separate issue and still very necessary to comply with as the loft conversion will be a room for people to live in.

Prices will vary from different contractors when estimating your loft conversion. But don't just jump at the lowest quote as a low quality conversion could actually lower your home's value rather than raise it. Temporary staircases are not recommended and estate agents will tell you this really doesn't add much value. It is well worth paying more now for a totally professional job as you will reap the rewards of significantly increased value in the future.

Loft conversions have lots of advantages over traditional extensions so what are they? Well there are many. A loft conversion will be fine for the majority of house types and styles. A traditional house extension should be far more expensive than a loft conversion and you won't lose any valuable outside space either. A lengthy planning permission process will be required for extensions but loft conversions should avoid the need for this with the recent changes in the law. Another major advantage is that loft conversions often take less time to plan and build which means that you are not sharing your home with local builders for weeks on end .

You can go a step further with your loft conversion and help the environment by installing solar panels to generate electricity, heat your water or both. Your electricity bill should be reduced also. If you choose the solar panel route to generate electricity then you will be eligible for incentives from the government for this and water incentives are also planned.

The total price for your loft conversion is dependent upon a number of things such as whether plumbing work is required to move tanks and pipes, the floor structural requirements and the actual size of your loft to name but a few. Whatever the final price it should always be a good investment.

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