Is it worth converting attic?

[Ostryga]

Currently live in a Victorian terrace that I’m halfway through doing up. Very standard small terrace, front door into sitting room, dining room, kitchen, bathroom but with the box room off the master converted to an en-suite.

Bought the house for £160k in 2017, recently valued (and similar properties are selling for £200-210k.

Have spent £30k so far so pushing bottom end of value. Had a couple of quotes for a very simple conversion (no dormers etc) and looking at around £25k.

I’d love the extra space, but also don’t want to spend thousands more than the house is worth. Not planning on moving for a while, and is only Dd and I so we’re not particularly desperate for space.

Would you just go for it? I’m sick to the back teeth of building work so it won’t be until next year at the earliest.

To be honest, you should look at some of the threads bemoaning the inflationary costs of building materials and labour shortages. Some people are finding quotes given months ago are being revised skywards. We are looking to buy at the moment and have ruled out a project. If it's just a nice to have for you and it's doubtful whether it will add value, I wouldn't bother.

Where will the stairs go?
Will there still be a decent sized room left?
I probably wouldn't do it.

If it wouldn’t currently increase the value and you aren’t particularly in need of the additional space, I wouldn’t bother. Like WorriedMutha, we know several people who have had a nasty shock about rising costs of building materials hugely increasing the build cost.

We’re half considering it, simply because the value difference between a two-bed and a three-bed in our part of London is significant and it would more than pay for itself immediately. Probably won’t take the plunge though, can’t face the disruption and dust having just renovated the rest of the place a year ago.

@pussycatlickinglollyices

Where will the stairs go? Will there still be a decent sized room left? I probably wouldn't do it.

Good points. I would have to take a part of the second bedroom off, but it’s a large double (10’ x 12’) so it won’t be minuscule.

I think I’m deep in the reno bug and have lived with a half-finished house for so long I’m kind of along the lines of ‘fuck it, just get it done’

That’s probably not the most sensible approach though!

If you do it, put a dormer. Totally pointless without as you get hardly any full head height and it’s v hard to place a bed and wardrobe.

Where abouts in the country are you to be getting quotes that low op?

I'd wait a bit. See of materials and builders costs level or decrease.
Also look at what other houses in your area that have converted the loft are selling for, and check their plans for layout ideas. 10x12 is not big, I'd not want to take much from that.

Material costs will most likely never drop. They will probably level off but definitely not drop. We are going ahead with our loft conversion.