Loft conversion or home extension?
Good question. First of all what do you need the extra space for? How do you want to feel in your new space? How will your family grow and will your needs change over time?
Do you need more living space for your growing family or an elderly relative? A new bedroom or home office studio? Once you know what you need the space for it’ll be easier to decide between a loft conversion or an extension.
According to Nationwide Building Society, loft conversions generally add up to 20% to the value of your home and an extension can add up to 23% to the value of your property. But remember it’s not always about making money – it’s about how you want to feel and use your new space.
It’s a good idea to check the prices of houses in your neighbourhood with similar extensions or loft conversions. This could tell you how adding an extension or converting your loft will affect the price of your property.
Loft conversion pros:
- Most loft conversions won’t require planning permission– this will save your time and money
- Loft conversion will be finished faster, since it already has a building structure.
- Usually loft conversions are cheaper since you are not building from scratch
- Loft conversions are a great choice if you need a bedroom or space for teenagers- they will get privacy and you will finally have some peace. Later, when the kids grow up and eventually move out, you can rent this space or use it for guests.
- Will add value to your property up to 20%. Of course, this depends on your neighborhood, prices in the street, your property.
- With a loft conversion you won’t lose your garden, this is especially important if your garden is already small.
Loft conversion cons:
- You are limited with size of a loft conversion since you are converting space you already have
- You will lose a storage place
- You are limited with roof slopes although today there are so many creative ways to use this space.
- It could add up to 23% value of your property
- You are not limited with the size of space, you can plan and design however you want
- The best option if you are looking to extend living space, open your kitchen.
- You could add bi-fold doors and get a lot of natural light which will make your space feel bigger and brighter.
- You might need planning permission, depending on the size of extension you are planning to build.
- Since the extension has to be built from scratch the project time will be longer.
- You will lose garden space
- Cost is bigger than for a loft conversion
- If you have to live at your home during the build this could be difficult with young children or people with health issues.
Swoon Architecture team is always open for your questions and here to help whether you decide to go with an extension or a loft conversion.