Many homes across the UK have an unused attic and/or basement that can be converted into living space. This kind of conversion allows you to add valuable square metres to the house’s floor plan while not invading the usable space you already have.
Let’s consider why it might be a good idea to remodel some of those unfinished spaces in your home to make the most impact on your lifestyle and improve resale value.
When it comes time to sell, ideally any renovation should have a positive impact on the value of your home. Finishing up any unused space in your home can add value to it and produce a positive return on investment.
Basement vs Loft Conversion
A drafty attic or a dark basement won’t be high selling points. A good reason to finish up more living space in your home is that buyers are paying attention to these spaces when considering purchasing your property.
Finished space above ground is always perceived as more valuable than underground space. So you must consider above-ground space first.
Getting the most of your basement
When it comes to finishing off existing space, and you have an underground space in your home you only use for storage, your basement is a natural choice. Basement space is so versatile. Whatever is missing from the main floor plan, there is potential for the basement to be the solution.
Structural work and water tightness are key issues for any basement conversion, and it’s always good to get the best materials and builders you can afford, to ensure your basement will be a dry and healthy space.
When considering this step, also make sure the finished space is something you value yourself. The most popular renovations include an open room for games, recreation and a guest bedroom with at least a ½ bathroom. Consider a wet bar, gym, or wine cellar as well.
Also, not all basements are the same. If you had an unfinished walkout basement, the return on your investment (ROI) would be higher than finishing off a fully underground basement.
Getting the most of your loft
Those properties that incorporate a bedroom and bathroom can add up to 21% to a property’s value, according to Nationwide.
For most people, a loft simply provides a storage place, but you can take dead space in your home and transform it into usable, like an extra bedroom, a playroom for the kids, an office, or just a space you can truly call your own. You can also rent out that extra bedroom and make some extra income.
A loft conversion can be a time-saving and cost-effective option, as it’s not reliant on factors such as weather, you’re less likely to be affected by delays, it normally requires less labour, is typically less expensive, and loft conversions rarely require planning permission to carry out.
You can also incorporate insulation into the roof to make it more energy efficient and save money on your energy bills.
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