Quality loft conversions can be a really good alternative to moving house if you are looking for an extra room. At this time, house prices are on the decline in big cities like London, so you could be taking a big financial risk if you decide to move home just for one more room in the current climate. (With the additional costs of stamp duty, increased mortgages, conveyencing fees and paying removal companies it can really be expensive|Not forgetting all of the usual moving costs such as a bigger mortgage, stamp duty, normal removal expenses and solicitors fees it can really mount up|Then there are the costs which are always associated with moving home such as removals, the cost of hiring a solicitor, higher mortgage payments and stamp duty}.
But you really need another room so what can you do? A loft conversion is a very good idea as it will meet your requirements for that other room and it will add value to your precious home. A leading high street building society – the Alliance and Leicester – discovered that a well planned and built loft conversion can see the value of your property soar by as much as £40,000. You also have the benefit of not moving house and all of the costs that come with that.
A recent 2008 relaxation of the planning laws has lead to many people undertaking loft conversions. The laws have been relaxed and now most loft conversions can be carried out under “permitted development” which means that formal planning permission is not required. Building regulations are a separate issue and still very necessary to comply with as the loft conversion will be a room for people to live in.
Prices will vary from different contractors when estimating your loft conversion. It is not wise just to accept the lowest estimate because if the conversion is planned and constructed poorly then the value of your house could actually fall. Don’t accept any proposal with a temporary staircase as this will add little value in the eyes of your local estate agent. Think about the future and the jump in value you will see when it is time to sell and pay for the highest quality loft conversion that you can get now.
What are the advantages of a loft conversion over a traditional home extension? The advantages are numerous. Whatever kind of house that you own it is very likely that it will be suitable for a loft conversion. A traditional house extension should be far more expensive than a loft conversion and you won’t lose any valuable outside space either. Local government planning permission will almost certainly be required for an extension whereas a loft conversion shouldn’t under permitted development. Another major advantage is that loft conversions often take less time to plan and build which means that you are not sharing your home with local builders for weeks on end .
It is even possible to reduce the world’s carbon footprint by installing solar panels in your loft conversion to aide in the generation of electricity and hot water. This will also decrease your fuel bills too. The government are offering incentives to people who use solar electricity and a scheme for solar water will be available soon.
The final price that you can expect to pay for your loft conversion depends on the structural requirements for the flooring, the size and shape of your loft, whether or not water tanks need to be moved and a whole host of other factors. Regardless of the price a loft conversion should always be worth considering.
There are many advantages to choosing a loft conversion if a quality solution is sought. To find out more about quality loft conversions visit this link loft conversions London.
Thursday, March 17, 2011
Loft Conversion Or Move Home – Which Is Best?
Labels: climate, decline, extra room, financial risk, house prices, housing market, living space, loft conversion, loft conversions, london london, money, mortgage payments, mortgages, moving costs, moving home, removal expenses, solicitor, solicitors, stamp duty