Many of us have felt boxed in during the long, arduous lockdowns of the previous 18 months. If you’ve felt an overwhelming desire for more living space, you’re not alone. Indeed, the BBC reported that “a search for space has pushed up the average price of a house by 7.3% over the past year” and after the claustrophobia of the COVID crisis, we’re not surprised.
Sadly, properties, particularly those on the larger end of the spectrum, are in short supply. Moreover, with the real estate market as volatile and unpredictable as it has been in recent years, many homeowners are understandably wary about making a move.
If you’re one of the many people seeking more space, then instead of scouring Right Move, Zoopla et al, why not turn your gaze upwards, and into your attic? Here, a remodel could eke out some extra room where you thought there was none. Should this sound appealing, then today we’re considering attic remodelling and the benefits it can bring.
ADD VALUE TO YOUR HOUSE
Did you know that a loft conversion can add as much as 21% – 24.5% to the value of your home.
Moreover, as reported by This Is Money, “a study by Nationwide found that adding an extra double bedroom and ensuite to a three-bedroom house via an extension or loft conversion increased its value by more than 20 per cent.”
The numbers are clear; a loft conversion is a smart investment even for those homeowners who are not planning to sell their property in the near future.
EARN EXTRA MONEY
If you convert your loft into a guest bedroom/living space you’re sitting on a potential income-generating portion of your house. Indeed if you’re looking to earn some extra cash, then the government’s Rent a Room Scheme lets you earn up to a threshold of £7,500 per year tax-free from letting out furnished accommodation in your home. While you cannot use the scheme for homes converted into separate flats, you can rent out your loft conversion to lodgers.
Alternatively, you could earn a passive income by opening up your loft conversion to Air Bnb rentals. Considering you’ll still be living in the property, on the floors below, the usual maintenance, upkeep, checking in and checking out of the property is convenient and easy.
CREATE MORE SPACE FOR AN ELDERLY RELATIVE, CHILD OR TEEANGER
If you have an elderly relative who needs to come live with you in their old age, then converting your attic space is a wise move. You can create an extra bedroom and extra living space for the family to use. While it’s probably not wise to make them use the attic space, you can move your own bedroom up there.
Alternatively, as we all know, teenagers need their private space, to allow them to grow, mature and develop their interests. A loft conversion presents just this type of opportunity.
A NEW WFH SPACE
During the COVID-19 pandemic, working from home became the norm for many people who would usually endure a daily commute to and from the office. Should you envisage this becoming a more permanent fixture, consider using your attic remodelling to turn the space into a home office and quiet area where you can work or just retreat for a while. All you need is good lighting, storage cupboards, a desk, comfortable chair, couch and maybe some inspiration wall art and you’re good to go.
ALL THE OTHER THINGS YOU CAN DO….
There are so many things you can do with a little extra space. Here are a few ideas…
A Hobby and Craft Room: Forget about using the kitchen countertop or squeezing your craft supplies onto a spare part of the dining room table. Say goodbye to having to get your craft supplies out of a cupboard then put them all away again. Set up your attic as a craft room and you’ll never be short of space again.
Perhaps you’ve always wanted to build that model railway or replica sailing boat. Attic remodeling allows you the freedom and space to follow your chosen hobby or interest in peace and comfort without disturbing – or being disturbed by – the rest of the family!
Playroom or Games Room: If you have kids whether tots or teens you’ll probably wish from time to time that they had somewhere to play which keeps them out from under your feet but still safely under your supervision. Attic remodeling can include the addition of sound proofing!
Music Room or Library: Speaking of sound proofing, you could turn your attic space into a recording studio or music room where music can be played and made without disturbing the neighbors. Or if you just want a peaceful, relaxing place to call your own, where you can read to your heart’s content and store your collection of reading materials (or your music collection) your remodeled attic is the perfect place to be.
THE BOTTOM LINE
By utilising your attic to its full potential, you can instantly give your home that extra space you’re craving. Doing so can add value to your property but perhaps even more importantly, bring about a sense of domestic calm. And that’s what it’s all about, right?