The Economics of a Loft Conversion


If you are thinking about adding to your home, you have a couple of options. A simple home addition is common; that’s when you add a room to your home by building outward. That will give you the opportunity to expand your house horizontally but it will also cut into your garden area. If you have an attic or a basement, you can convert it into a loft without reducing the size of your garden.

Furthermore, an addition can actually boost your home’s size considerably.

The Benefits of More Space

If you convert your basement or attic into a loft, the first and most obvious benefit is more space. You will have more living space for you and your family. However, the economic benefits are a little bit further down the line. The value of your home will likely increase due to your addition. That increase in space means that you will be able to sell your home at some point in the future for that increased value. Harrogate builders can give you more precise estimates when you get in touch with them.

If you have the ability to add a staircase to your attic loft, you can increase the home’s space by as much as 30%. That will greatly increase the economic opportunities of your home.

Hiring Out Your Loft

If you want to make more money off your loft conversion immediately, you could rent the space to tenants. There are some requirements you have to meet to be a licensed landlord but, once you are, you can start making money instantly.

The math is simple; you should estimate the cost of the loft conversion and divide that by how long you want to rent out the space. That will give you how much you should charge for rent. You stand to gain a lot from adding space to your home if you do it with the help of great builders.

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