If you are planning on performing a loft conversion or extending into the side return, there are a number of factors that need to be considered before undertaking the task. Firstly, why are you carrying out the conversion? Is it to increase the value of the property ready for sale or for your own use of the extra space? In either case, finances need to be thought about very carefully. In general, converting space starts from around £300 per sq ft so budgeting for the project is essential, especially if you are hoping to make a profit. A straightforward loft conversion on a three bedroom terraced Victorian house in London will start from around £35,000. In some areas a loft conversion can add as much as 20% to the value of the house. If you are performing a conversion as an investment, it is important that the increase in the price of the property will cover the cost of the conversion.

When carrying out a conversion or extension in order to sell the property, think carefully about how to use the space and what a buyer would look for. As always, if the house is going up for sale, use clean neutral colours that will appeal to most tastes. It is often the case that you are able to put in a shower or bath room in a loft conversion. When putting in a bathroom, location of the soil pipe might be a deciding factor in the positioning of the bathroom; these often have to be at the back of the house due to drainage. You also need to think about whether the current heating and electrical system will be able to cope with the extra space.

It is also important to think about other issues such as fire regulations, planning regulations and third party wall agreements. These should be discussed with your builder before carrying out the work.  Access to the area to be converted will also need to be considered carefully. These projects often cause a huge deal of disruption, especially basement conversions where normally an entire room will need to be disrupted to enable the builders to dig down.

For an approximate post conversion value of your property, it is worth working out the local price per square foot of the property and multiplying that by the additional square footage that will be added. You can also get an idea of value from local houses that have been sold with and without the conversions.

Top Tips For Conversions

• Do make sure that you have contacted your relevant local authority for planning permission.
• Do contact professionals. There are a lot of things to consider when performing a conversion; structurally, electrically etc.
• Do make sure that you have budgeted carefully for the expenditure and allow a margin for any unexpected hitches.
• Do make sure you check fire requirements with your builder to make sure you will meet them.
• Do check whether you need a third party wall agreement
• Do plan for the disruption.
• Don’t rush decisions; this is an important investment and factors need to be considered carefully.