25 Jul Brits have £34,000 of wasted space in their home
We were not surprised to read a recent report that suggested as much as 15% of the average British home is unused – which represents around £34,000 of wasted space. And guess what – most of it is attributed to all that wasted loft space!
There really is cash in the attic but you don’t have to take our word for it. Many industry experts and commentators agree that it’s plain daft not to make use of the space you have at the top of the house, particularly if you live in Greater London and the Home Counties where every metre of living space comes at a premium.
The figures stack up too. The average cost of a dormer loft conversion with bedroom and ensuite is around £35,000. For people living in these areas, looking to move to a home with that much-needed extra bedroom can add an additional £100,000+ to the mortgage. When you factor in professional fees and stamp duty costs, improving your current property makes much more financial sense.
And of course, a loft conversion will usually add value to your home which makes it an investment for the future too. A loft conversion is regularly cited among the top ten ways to add value to a home. Admiral insurance suggest it would add 14%, Virgin Money suggest 15%, the Home Owners Alliance suggest up to 20% and Nationwide suggest 22%. When it comes to getting a return on investment, you really can’t go wrong with a loft conversion, providing of course, you do it professionally.
It’s not all about the investment of course. Your loft conversion will provide you with the space your family needs now. Our most popular loft conversion remains a master bedroom suite and is often built to allow families with children to have their own space. However, extra rooms for the kids, a home office and even entertainment spaces are also popular reasons for a loft conversion.
If you feel that you will never be able to get the space you need – think again. The solution to your dilemma is right above your head. Release the full potential of your home and make use of all that lovely space.