Generally speaking, a loft conversion is cheaper than an extension. As opposed to an extension, you’re not building something onto an existing property, you are building within an existing property; most of the infrastructure and framework is already there, you are just building on top of it.
As well as trying to be as cost-effective as possible, there are some other aspects you might want to consider before making your decision based on price alone.
Adding Value To Your Property
It is also important to think about the long term. Are you going to stay in the same house forever, or are you looking to sell once the work is done or a few years down the line?
A study conducted by Nationwide saw that adding a loft conversion to your home with a double bedroom and en-suite could add up to 21% value to your home. An extension, with a double bedroom and en-suite, however, could add up to 23%.
Going off these figures means that in the long run, an extension would add more value to your property, making it more cost-effective.
Which is More Ideal For You
Another point to consider is what the extra space will be used for. With a loft conversion, you can be limited with what you can do; you may have enough space for one single bedroom or a home office. If all that you are after is an extra bedroom for visiting guests or somewhere to make working from home easier then a loft conversion may be the right path for you.
But, if you are looking for extra living space, an extension may offer you more freedom to achieve this desire. Open plan living has risen in popularity, with a built-in single storey extension, you are able to mould your property around your particular lifestyle.
Bespoke Norfolk Group covers both extensions and loft conversions and can help and advise you on the best route to take with your goals in mind.
We cannot say for certain which option is cheaper for you in this article. There are a number of factors to consider. Such as the location of your property; different areas will bring different costs. Also, what type of property your home is will greatly affect the cost of a project. As discussed before, what your priorities are for this development: what room you may want your loft to be converted into may be more suited to an extension, as well as turning out to be more cost-effective and vice versa.
We understand that the cost of having work done on your property is a massive factor that you need to consider; wanting to find out the cheapest option is a natural desire in such work.
With that being said, you, firstly, need to identify what your goal is. At Bespoke Norfolk Group, we cover both loft conversions and extensions. If you’re thinking of an extension, we cover a wide range of different types, from, Kitchen and kitchen diner extensions to single and double storey extensions. Whether you want a rear or side extension, timber frame or bungalow, the sky’s the limit.
Are you thinking a loft conversion might be the way forward for you? We’ve got you covered, offering the best types of loft conversions: Roof light / Velux loft conversion, Dormer loft conversion, Mansard loft conversion, and Hip to gable loft conversion.
Please feel free to contact us today and see what we can do for you.