Planning applications across the UK continue to grow year on year as homeowners search for affordable alternatives to moving home. This has meant that companies specialising in basement extensions, conservatories and, in particular loft conversions, are helping to change the property landscape in a very literal sense.
According to Halifax insurance, in England, Scotland and Wales applications went up by a third between 2012 and 2016. This is seen as a reflection of both the changes made in 2011 to the permitted development rules along with the rising costs of purchasing a new home and the associated moving fees.
Young families who are searching for larger properties, or those who need to find extra space to accommodate elderly relatives or growing teenage children are now turning towards their lofts for the solution. There is a realisation that not only will it solve the problem of not having enough space but it is a cheaper alternative to moving and adds more financial value to their home in the long run.
Not only can a loft conversion increase the value of the property by at least 20% and generate more value on the market, but it is an attractive additional feature that often captures the imagination of buyers looking for extra space or something that goes beyond a standard specification.
In particular, London has seen a huge 60% increase during the same period, while the southeast as a whole has been processing 24% more building applications in those 5 years. Halifax also surveyed more than 2,000 homeowners and found that home gyms were the most popular type of loft conversion, giving them a private space to keep fit and avoiding having to pay excessively high gym membership fees.
There are so many benefits that come with adding a loft conversion to your home and it is something that thousands of others are now taking full advantage of. No matter how large or small your requirement it is the perfect way to transform your home while saving on money and maximising the full potential of your property.