Home extension or loft conversion – Are you planning to sell your house? Given the state of the housing market in the United Kingdom, there are a few things that you can do to improve the sale value of your property.
According to the Nationwide Building Society, you can add 4.9% to your home’s value by adding an extra bathroom or increase its value by 10% by adding more floor area. While this seems enticing, no other improvement has as much value as a home extension or loft conversion.
Even the most straightforward house extensions in north London can increase your property value by 22%. The same goes with a loft conversion, which can add up to £22,100 to the sale value.
But how do you decide whether to extend your home or do a loft conversion?
The answer is not simple, which is why we will explore both options in this article.
Home extension
A home extension involves adding a room to your property. It can be a kitchen, a utility, a bathroom, or a bedroom. How much more area you can add to the living space depends on the house’s location. As planning policies in every area are different, you must consider the space around the property and your budget before planning a home extension. Local house extension experts can help you with all the processes from planning to implementation.
If we consider investment, house extensions in north London can cost you around £1,500 per square meter for a single-story extension. If you are extending a double story, an additional £1,100 per square meter for upper floors must be factored in. But the cost is not the only factor; the more you extend your internal space, the less outdoor space you will have.
You have to weigh the pros and cons before making your decision. For instance, if your family is growing, it might be worth reducing the garden size. However, not every home has scope for house extensions in north London. For example, if adding more space requires losing your garage or parking space, you are better off with a loft conversion.
In terms of value that house extensions in north London can provide, on average,, a large single-story kitchen extension can increase the house’s sale value by 15%. Adding a double-story extension to include an extra bedroom can add around 20%.
Loft conversion
Loft conversions are immensely popular in improving the value of any house. During the pandemic, when most people started working from home, the demand for loft conversion soared throughout the UK. You can search for local loft conversion experts or can contact loft conversion Colchester for the best possible solution.
Typically, a loft is usually used as a dead space to store things. Converting it into a livable space can add up to 20% value. Also, limiting the loft conversion to a certain size will come under permitted development. You don’t have to seek planning permission for the loft conversion. A loft conversion is much cheaper and more straightforward than a house extension.
Things to consider
There are several factors to consider when deciding between a home extension or a loft conversion. Here are a few things to consider:
Cost
Home extensions tend to be more expensive than loft conversions, as they require more construction work and materials. However, the cost of a loft conversion can vary depending on the complexity of the project.
Size
Home extensions add more space to your home, while loft conversions typically provide less space. If you need a lot of extra space, a home extension may be a better option.
Location
If your home is located in a densely populated area or in a neighborhood with strict building codes, a home extension may be more difficult to obtain permission for. In these cases, a loft conversion may be a more viable option.
Purpose
Consider what you will use the additional space for. If you need a large, open living space, a home extension may be a better choice. On the other hand, if you need a few extra bedrooms or a home office, a loft conversion may be a more suitable option.
Style
If you want to preserve the character of your home, a loft conversion may be the better choice as it involves converting an existing space rather than adding on to the exterior of the home.
Pros and cons Home extension and loft conversion
If you’re considering adding more space to your home, you may be weighing the pros and cons of a home extension versus a loft conversion. Both options can be viable choices, depending on your specific needs and circumstances. In this article, we’ll explore some of the key factors to consider when deciding between a home extension or a loft conversion.
Pros: Home extension
One of the main advantages of a home extension is that it allows you to add more space to your home without having to move. This can be especially appealing if you love your current neighborhood or if you have a large family that has outgrown your current home. A home extension can also add value to your home, making it a good investment.
There are a few different types of home extensions, including single-story extensions, double-story extensions, and wrap-around extensions. Single-story extensions are typically used to add a new room or two to the ground floor of a home, while double-story extensions add an entire new floor. Wrap-around extensions, as the name suggests, wrap around the existing structure of the home, adding space on both the ground floor and the upper floors.
Cons: Home extension
One potential downside to a home extension is the cost. Building a home extension can be expensive, especially if you’re adding a large amount of space or if you need to make structural changes to the existing home. You’ll also need to consider the amount of time it will take to complete the project, as well as any disruptions to your daily routine that may be caused by the construction process.
Pros: Loft conversion
A loft conversion, on the other hand, involves converting an existing attic or loft space into a usable living area. This can be a more cost-effective option than a home extension, as you’re not adding any new structure to the home. You’ll also have the added advantage of being able to use the space immediately after the conversion is complete, as opposed to waiting for a new extension to be built.
Cons: Loft conversion
One potential drawback of loft conversion is that it may not be feasible if your home doesn’t have an attic or loft space that can be easily converted. Additionally, you’ll need to consider the height of the ceiling in the loft, as it may not be high enough for standing or may require significant modification to make it usable.
Ultimately, the choice between a home extension and a loft conversion will depend on your specific needs and circumstances. If you have the budget and are willing to undergo the construction process, a home extension may be the best choice for you. On the other hand, if you’re looking for a more cost-effective option and have a suitable loft space, a loft conversion may be a good option. It’s important to carefully consider your needs and budget before making a decision.
Final decision
Clearly, deciding between the home extension and loft conversion is tricky and depends on so many factors. It is better to consult an experienced architectural designer who can help you determine the best solution for your property.