Loft Conversions Give a 20% Lift
Sun, Wednesday June 10th 2009
Lofts give a 20% lift
Building a loft conversion with loft rooms (a bedroom and bathroom) can add 20 percent to the average home's value, say experts.
Increasing a home's floor space by a tenth adds five percent - but location is still most important to determining value, a Nationwide survey revealed yesterday.
Chief Economist Martin Gahbauer said: "A house in the best neighbourhood can command a price nearly 50 percent higher than a similar house in an 'average' area."
The survey came as figures revealed 43,000 applications for new mortgages last month compared with 28,000 in November.