Throughout the pandemic, Britons have spent billions on improving their homes – £110billion to be exact. This includes renovations and construction, decorating rooms, and even improving parking. As we navigate the other side of this unprecedented global event, the desire for an improved home has not gone away. In fact, as the housing market collapsesmany people are continuing their efforts to perfect their current home, as moving plans are on the back burner for now.
When it comes to home improvements, some are more significant than others and can be completely transformative in terms of the function and form of the home. Loft conversions are a good example of this, especially those built in London where the benefits of the work are magnified by the environment. If you’re considering upgrading the place you love the most with a loft conversion, but you’re still not sure, read on for an overview of the main benefits you get with this type of substantial home improvement. housing, especially if you live in London. :
Back garden preserved green space
The value of private outdoor spaces is high after the pandemic. Lush backyard square footage before the pandemic was already a premium in London, with more than 20% of housing in the capital without a garden at all (compared to one in eight in the rest of the UK). Now home buyers want outdoor space and will pay more for it. More than 7 million people I’ve started gardening since Covid-19 kept us all at home, and it’s becoming increasingly clear that ecotherapy is an exceptional way to soothe anxiety, symptoms of depression and stress. in general. When you can’t go out for a bit of shinrin-yoku, the back garden is your own green haven to soak up all that natural healing goodness. Converting a loft has zero impact on your green space, preserving valuable outdoor square footage that over 2,000 potential home buyers consider more important than the bathroom or kitchen when choosing a home.
Ability to create space vertically
As we mentioned above, over 20% of homes in London have no outdoor space. Because of this, you may not have the ability to expand outward at all. Luckily, that doesn’t mean you should miss out on creating extra space in your home. With a loft conversion, you are simply using the space you already have, converting it so you can enjoy it as a guest bedroom, rental space, kids room, cozy, cinema room, home office or anything else you like.
A room dedicated to the FMH
The average journey to work in London takes about an hour, and add that to the huge gains many workers enjoyed when working from home during the pandemic, and it makes sense that hybrid working or full telecommuting arrangements would continue now that we’re in an economy post-pandemic. Most of the time, no one wants to go back to the office anymore, and so a huge, light-flooded and gorgeous loft conversion room is highly desirable as a home office.
Sights and light unlocked
In any city, views and light from the top floor can be obstructed by other buildings, and potentially by trees, streetlights, or even street signs and statues. With a attic conversion and ceiling lights or other window options, you suddenly have access to the view from the highest point in your home. They might not be spectacular, but they might offer a glimpse of a landmark, a green space, or even just an even better view of your garden or area. Even better, loft conversions let in light, allowing you to harness the hygge and enhance the ambiance of the room.
Long term and short term rental potential
By using a trusted loft conversion company you ensure that your loft conversion meets all building regulations and is a safe and usable space. This means that you can not only enjoy using it as part of your home, but you can also rent it out to earn some extra cash. Airbnb is a great option, with the potential to bank between £50 and hundreds of pounds per night (depending on location and design/size of conversion), but be aware in the majority of Greater London homes you cannot rent your property this way for more than 90 days per year.
Long-term rental is also a possibility using the Government Rent-A-Room Program which allows you to earn up to £7,500 a year tax free for renting furnished accommodation in your home. Making the space completely self-contained and safe with additions like bathrooms and kitchenettes could also give you other long-term rental options, but it’s important to do your research to make sure you’re up to date with them. all the latest rental laws and advice. property off.
The financial boost of an extra room drives up home value
According to the latest data, adding an extra bedroom to your home, such as converting a loft, adds 15% to the value of your home. With the average UK home value of £296,422, an extra bedroom would add £44,463 to the value of your home. In London, depending on where you live, the increase in value of a loft conversion can be significant and is likely to outweigh and outlast inflation and rising building costs that we observe.
Are you ready to reap the benefits of a London loft conversion
Why not talk to a Development of a loft in London company today to learn more about the benefits this savvy home improvement option could bring you? Other property owners in the London area are already reaping the rewards of the building work they have done – 2023 will be the year you join them and help your property reach its full potential.
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