The latest figures from building societies show that the average cost of moving into a property valued at 500,000 pounds is more than 24,000 pounds; think about it if you are an elderly couple there is no way you are going to self move. This means on top of the taxes you will have to set aside money for the removal men. Ad this all together and in London, this adds up.
If you are at the upper end of the ladder moving into a house valued at 1m could set you back 57,000.
Where prices are high, the capital, for example, is financial sense.
If you have to spend over 50k move, you would be silly not to convert your attic instead.
Around the country are generally a bit better and house prices lower, so it probably will take longer to redeem your expenditure.
Providing the space is used for a bedroom and a bathroom, you should add enough to the value of your home rapidly to cover the cost.
Current interest is increasing at an annual 5%-10%.
To be fair it’s a space filled with the leftovers of normal. Most people treat their loft as the preferred place to store suitcases. Consider how much more useful it would be as a home office.
Also, a Loft conversions Cricklewood is far cheaper than buying extra territory in the form of a larger house and about 30% of the cost of scooping out the basement and unlike a kitchen extension, it won’t eat into your garden, either.
So, you have decided to take the plunge. What happens now?
Well, you need to agree what you’re going to do, you would be shocked[spin]at how many[spin]people are still debating what to have done on the morning the construction firm demand their first cup of tea.
What are you doing? Installing Velux windows and leaving the space as it is, or do you want to expand outwards, with a dormer window?
Establish how much height you have. If the roof is 5ft high in the middle, you’re in trouble – unless you are a smaller person.
Subject to local authority requirements building control regulations will almost always be required if loft space is being modified into any usable form of accommodation.
The one thing most property owners don’t comprehend is that the attic conversion can be undertaken with less disruption to the existing house than a normal small extension causes.
Everybody thinks the summer is the best time have it done when in fact the property is only exposed to the weather for a very small portion of the project, so having it done in the winter can be a cheaper option since builders are not so busy at this time. This also tends to be a cheaper way of getting more floor space because you are working within the existing footprint of the house rather than adding to it.