Your opinions on loft conversions.........

[PollyPerky]

We are in an area where prices are going through the roof ( no pun intended) and are thinking of a loft conversion to max on selling price when we do sell. A local (good imo) estate agent suggested it wasn't really worth it as we'd only break even. He felt the downstairs would still be small and the house 'top heavy'. It's a 4 bed, 2 bath, 3 receptions detached, but the kitchen is quite small (12 x 9) , can't be open plan with any other room and we can't extend the ground floor because we are too hemmed in.

A loft conversion could give us 2 beds and a small bathroom, or 1 large room (study or whatever) plus loo.

However, I think we'd need to use the 4th bedroom as the staircase, so we'd end up with 5 beds and a 'snug' or something on the landing where bedroom 4 was. (It's only 8x 8.)

Is it worth it?

If you need the space it's worth it if it's just to put money on the hose price it is not worth it.

I'm just a bit puzzled because a similar house ( same type, but not exactly the same, & bigger garden) has had a loft conversion to give 6 beds and is on the market for around £250K more than we'd get for ours.

One problem with loft conversions is, lack of insulation and storage.
Quite often with any extension, you might only just break even, and you have to go through all the inconvenience and disruption.
You need to ask yourself, will it all be worth it?

The problem with doing a loft conversion on spec and not for your own use, is that you have no idea who you're likely to sell to and what their requirements might be.

The loft of our house was built with attic roof trusses and dormer windows in situ. It would be easy to convert, but we have no need for extra accommodation. It could make home-work space, separate relative or au pair space, entertainment space for games or hobbies. How are we to know what purchasers would want? We've decided to leave it and market with 'potential'

I think in your case a small kitchen would limit the appeal to a lot of people, sorry. I suppose you could consult an architect and have plans drawn up, then market with the option subject to permissions etc. that would just demonstrate the possibilities.

Ask another local agent what they think.

I'd get another opinion. I'd say the house would be too top heavy. Especially not loads downstairs.

we didnt make profit with our loft conversion. we kept the original tiny kitchen.
now and knowing that we would want to move to a detached, i would leave it if you dont need it and market it with potential to extend etc.

however, if youre going to stay at least 5-7 years, it might well be worth it for you.

I agree - there are very few people who need a 5 or 6 bedroomed house, and certainly wouldn't be paying a premium for it if the downstairs was a compromise. If you do need 5 or 6 bedrooms because you have a large family, a 12 x 9 kitchen is probably not going to work.

If you've got 3 receptions, presumably all on the ground floor, how do you manage to have none of them at all extendable into the kitchen? Could one of the other rooms be made into the kitchen?

If you want more space, have a loft conversion over moving. If you just want to make more money, don't bother. I speak as someone who had a 2 reception + crap kitchen turned into 1 recep + lovely kitchen diner, 4 beds 1 bath, and have added a loft conversion for another 2 beds 1 bath - because we needed the space. If you don't, it's really not worth it.

Don't so it unless it is worth it TO YOU. Loft extensions don't generally add more value than they cost.

You could get the plans drawn and the planning permission done and sell with those in place? Might add more than the £1k ish it would cost to get them done?

I was wondering why the kitchen cannot be opened up into another room. That would be my priority. Definitely not the loft. Is it a basement?

My loft conversion is definitely adding more than the cost. A 2 bed 1 bath bungalow being extended to a 5 bed 2 bath but large lounge etc will increase the price of our property by £50k minimum and it certainly isn't costing us that. It's cheaper than moving or trying to buy the equivalent- south coast.

I wouldn't bother. If you are hemmed in, the plot is small and the ground floor compromised then there is no point going through the massive expense and upheaval of a loft conversion. Some people would also be put off by having to run up and down the stairs. The current layout of 4beds and 2baths on the first floor + loft for storage sounds pretty good.