Why a Loft Renovation Will Raise Home Value
When renovating a home, the addition of a loft can raise your home's value up 20 to 25 percent of its current value. Taking an attic area of your home and converting it to a loft is one of the easiest remodeling projects you can do, and the renovation will add tremendous value and help you save money in the process.
Besides adding value to your home, many people consider converting an attic, basement, or even a garage into a loft instead of moving and buying a new home. They make the choice to convert existing space to remain in their home and save money. People consider lofts for a few different reasons.
Instead of buying a new home that has an in-law apartment, many people will just convert an area into a loft. This will not only save them money from buying but will put money in their pocket when they decide to sell.
Many families will build a loft for use by their older children. They might be in college, or at the age where they want to be on their own, but can not afford an apartment.
Some families just need the extra space for their growing family.
Extra Living Space
As more and more families are looking for that extra living space, they are seeking out homes that have them already added. A lot of home buyers are not in the position to buy a home and do a remodeling project. If they can find a home with a finished basement or a loft in the attic or garage, they will take a closer look at that property when thinking about purchasing a home.
A loft conversion has the potential to be an income producer for the home buyer that wants to rent out the space. This is especially helpful when the loft is in a garage or when the attic has an outside entrance.
Better Insulated Home
When you convert a room into a loft, that means you are also going to be adding better insulation to the home. More insulation gives you greater protection against weather conditions such as heat, freezing temperatures, rain, and moisture build-up. You will also find that a loft will not increase your overall utility costs that much because the heat from the lower floors will rise to the open space of the loft.
One of the hidden factors in the value of a home is its appearance. A home that is showing its age has not been taken care of and has a bad design may not be valued as much as a home of the same size that looks good. A home that has a loft renovation will have an aesthetic quality that helps with the overall look. Open spaces generally give the impression of a larger home and better lighting. The use of materials such as exposed beams, track lighting, and large windows make the room inviting and pleasing to the eye.