Should we convert the loft?

[wonderingwig]

We have a nice 3 bed semi which we've done work on downstairs so have it open plan. Up stairs now needs sorting and redecorating/ landing hall stairs need redecorating and recarpeting . All upstairs rooms need recarpeting. We have thought we would like to convert the loft to give a master suite with en-suite for us and then the second floor would be 3 bedrooms for guests/ dc can have our old bedroom so bigger I think the loft stairs would take up the box room) I've heard that dust gets everywhere doing a conversion so thought if we are going to do it no point redecorating and recarpeting before then

Quotes range from 45-65k. We have lots of equity in house so could remortgage now to release that and get cracking

But downsides to our house are its got a v small garden ( I can live with this and dc getting older so will be out with friends more at park etc) and it's in an area that is being increasingly overdeveloped. Developers are buying up houses extending and then putting loads of students in them so the street is becoming like an extension of campus ( the students are ok but obviously don't look after the houses gardens are a mess, there are noisy late nights etc. I think long term this will have an impact on whether we want to stay here but we are in catchment for great school at the moment and to move elsewhere in catchment with a bigger garden and what we want we we are looking at least doubling our mortgage plus stamp duty etc and even then we would probably have to do loads of work to it

I just don't want to spend all the money on the loft conversion if we are going to have to move anyway and worry we won't make it back

Any thoughts?

Ask a couple of local estate agents to tell you how much you house is worth now and how much with the loft conversion. If it not worth 45-65k more with the conversation, don’t do it.

I could have written your post about 7 years ago! We made the decision to move.

Same position. Can't decide so following with interest. We have a nice garden, but not a great school catchment. Also don't think ceiling height will be great unless we lower ceilings in bedrooms up stairs

We did our loft about 5 years ago.
Regardless of whet it might have done to our house price it was 100% worth it in terms of improving our quality of life.
I would only NOT do it if the structure of the property made it unusually expensive for the space that you gain. If you have relatively high loft and the layout works then go for it. (Your conversion cost is a lot higher than ours was which makes me wonder if it is a bit tricky)

We are in the south east where everything is £££££! I don't think it's particularly tricky

The more bedrooms you have the more appealing it would be to someone planning to rent it out to students.

Estate agents will generally say to any question that the solution is to move - course they would. I think it depends on how long you plan to stay and whether you're just doing it because you really need it or whether its just a nice-to-have.

V true ! Namechange

+1 to what TulipsInbloom1 said.

But do you think they will pay the 60k extra?

Those do seem high quotes for a straightforward loft conversion - are you having dormer windows or a hipp-gable conversion too? Our 3 bed semi has a low roof pitch and we've been advised it's not worth getting the loft converted for the space we'd achieve (one third of the roof space). A straightforward loft conversion usually starts from 15-20k so that's one heck of a South East premium if so!

You may not get back the full amount you put in though.

Yes I think that's right but still worth doing??!

It's not just about getting the money back though. If it makes life better then that's worth a lot

Loft conversion will give us 2 double bedrooms and an en-suite but we will probably lose the box room to the stairs or at least a large proportion of it. That means 2 bedrooms and a bathroom on the second floor and 2 bedrooms and a bathroom on top floor or one big bedroom en-suite and dressing room

Downstairs we have 2 reception rooms a large kitchen and a downstairs loo and shower room so plenty of space and it's largely open plan

Downsides to house remain small garden and increasingly studenty estate

Aah what to do?!

I think I will speak to some estate agents for advice

Anyone else converted their loft and loved it!?

Our set up sounds similar. We converted the loft around 5 years ago and absolutely love it. Our children are teens now so it’s nice to have our own little bathroom and en-suite. Our garden is pretty small too, and we lost a bit of a bedroom to stairs, but the whole house feels so much more roomy now. Do it if you can afford it and if it would genuinely improve your quality of life. It is a messy and intrusive process, but ours is wonderful.

Do you feel it was worth spending the money then?

I'm so confused about what I should do

In your position i would enjoy the work you've done downstairs and move to a better area in a few years.
We need a conversion but I can't face the mess. Plus the rest of our house is done and I think it'll get wrecked.

A few houses I've seen on rm where a bedroom has been sacrificed for a loft conversion have either used the remains as a study area/office or built in a shit load of storage.

What is the extent of your options? Would you look at moving away to an area in catchment for another great senior school or are you committed to staying locally?

Are you close enough to the school to guarantee a place? (My friend lived 700m away, they were on the waiting list as oversubscribed before 450m. They didn’t get a place).

Do you only have one DC? Do you need the extra rooms?

Do you need the extra space? That’s really the main thing. We knew we wanted to stay in the area and could not afford anything bigger so extended. But we also live in a desireable area so knew it would add value. We have never regretted it.

We are in good catchement for juniors if we stay out. Like I say I love it here and can easily have mortgage paid off by the time we are 55 so another 14 years without any bother on our current income

If we move to nicer street literally round the corner with no students and bigger garden we are looking at doubling/ tripling mortgage .. not sure what for really

As dc get older I think big gardens get less important and we have a massive man cave out the back which will make a great teenage den

Sorry it’s hard to help with only half the info.

So much depends on how many kids, how old they are, if you plan to have any more. If you’d move away. If you’re 100% sure of school places (not just in catchment).

It’s fine if you don’t want to say, but your advice isn’t then necessarily going to be relevant to your actual situation.

But a few general comments.

The developers aren’t going to stop with your street. You’re likely to end up in the same situation in the new house as it’s so near.

I live in the SE. I know how expensive it is, but I also know that’s not the average cost for a loft extension. You need more quotes.

You need to look at SOLD prices for houses similar to what yours would be if you did the loft.

You need to look at SOLD prices for houses you’d like to move to

‘On the market prices’ give you an idea, but far less so than SOLD prices.

Is there anything about your actual location that would be better/worse if you move? Transport. Local park. Safe walk to school. Busses. Shops (safe for kids to walk to). Things like that.

I'm south London / Surrey. My loft conversion was £50k ish. (Including decorating and carpeting house etc spent about £65 I reckon) went from 2 to 3 bed.

House increased in value by that amount and it's been totally worth it from my point of view.