KGeeson
Property Forum Staff
Forum Partner
When considering a loft conversion for an additional bedroom, what property value increase (as a percentage) would you expect to see to make the renovation work worthwhile?
Cowell
New Member
That's actually a multi-layered question. Meaning there are a lot of financial variables involved.
How much is your house is worth per square foot (or metre).?
Does making a bedroom from an empty space increase any potential asking price?
Does the home's value, based on the comparables in the area that it's in, allow for an increase in value based on the work done?
When it's all said and done, I would expect the percentage to at least reflect the time, labor and material I put into the conversion.
How much is your house is worth per square foot (or metre).?
Does making a bedroom from an empty space increase any potential asking price?
Does the home's value, based on the comparables in the area that it's in, allow for an increase in value based on the work done?
When it's all said and done, I would expect the percentage to at least reflect the time, labor and material I put into the conversion.
Nicholas Wallwork
Editor-in-Chief
Staff member
Premium Member
Yes I agree with @Cowell lots of variables and impossible to put a percentage on it as it depends on the size of the house and the size of the roof conversion...
It will also depend on land values in the area... You'll make a higher % return in London for example as opposed to Wales or in the North of England where land values are cheaper. The work will costs (roughly) the same so this is a major factor when considering whether to do it or not... The same principal applies to a basement conversion which we were discussing on another thread...
It will also depend on land values in the area... You'll make a higher % return in London for example as opposed to Wales or in the North of England where land values are cheaper. The work will costs (roughly) the same so this is a major factor when considering whether to do it or not... The same principal applies to a basement conversion which we were discussing on another thread...
