Loft Conversion

Discussion in 'Wood / Woodwork / Carpentry' started by treacletown08, 28 Jan 2021.

  1. treacletown08

    treacletown08

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    I have been quoted £25k to convert my loft into one good sized bedroom with Velux windows and a staircase. My problem is that my house is at the top of its price for the area that we live in. Should I go forward with the project ?

    Any advice would be more than welcome.

    Thank you in advance.
     
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  2. KenGMac

    KenGMac

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    Looks as if you need to do the maths?

    Not really reliable BUT?

    HOw fast have house prices risen over "X" years

    Extrapolate that rise to see how long it will take in years to account for your intended expenditure now?

    Not an exact formulae but is something to consider.

    Ken.
     
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  4. JohnD

    JohnD

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    So if you sell it in 5, 10 or 20 years, it willl still hit the cap of "what's a house worth in Coronation Street."

    How much value will you get out of living in the house for the next ten years? £10thou per year? Will it repay the building cost and disruption?

    A 5-bedroom house is always worth more than a 3-bed with a loft conversion on top.
     
  5. treacletown08

    treacletown08

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    Thank you both. House prices rose about 2% in 2020 or £4K in terms of our home. Moving would probably cost 8k when the stamp duty holiday expires. Mmm.
     
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  7. foxhole

    foxhole

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    Depends why you are converting, if you need the space then cost is not a concern compared with cost of having to buy a larger property.
     
  8. DIYnot Local

    DIYnot Local

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    If you need to find a tradesperson to get your job done, please try our local search below, or if you are doing it yourself you can find suppliers local to you.

    Select the supplier or trade you require, enter your location to begin your search.


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