Leading lenders all agree that Loft Conversions are both a fabulous Home Improvement option and a ‘savvy’ financial investment. With the potential to increase your property value by as much as 20%.
By enhancing the useability, style & space within your existing home, you not only improve your daily lifestyle, but your money is working hard to give you a healthy return on its investment.
However, trying to research the actual cost of a Loft Conversion can be a real headache.
Doing research online is always a good idea. You don’t know, what you don’t know, and the web can be a great place to start.
HOWEVER, be mindful that the information you read is only as reliable as the person who wrote it. Unfortunately, the web can be full of misleading information, which can give customers unrealistic expectations. This in turn leads to frustrating & fruitless negotiations, disappointment and ultimately turning your project into a non-starter.
Although you will find many online calculators, the cost of a conversion is about much more than just the size of your house, conversion type or preferred design.
In fact, the TRUTH IS….. the cost is very much based on YOU & your personal preferences.
For example, how much is a watch? You could expect to pay anything from a mere £5 on a market stall to an eye watering, designer £50,000K plus. If budget allowed, how would you prefer to fly – Economy or First Class? These important personal preferences are ultimately what will drive the cost of your project.
Asking friends or neighbours who they would recommend is always the best way to find the perfect contractor.
However, it is important to bear in mind that the construction industry is a fast paced and ever-changing industry. Due to constant fluctuations in material & supply costs, technology advancements, changes to legislation/building regulations & varied trade labour fees, this means if your neighbour/friend had theirs done a year or more ago, costs will have most certainly increased. So, watch out for setting unrealistic budget expectations, which may stall your plans.
Getting three quotes is always sensible. Hopefully helping you understand what your preferred type of contractor is typically & more importantly CURRENTLY charging.
You have done your research, you have gained some great recommendations, you have even met with some potential contractors, BUT how do you now confidently judge each quote fairly?
When comparing quotes like for like, it’s essential that you truly understand what you are ‘actually’ getting for your money. Just because you have been clear in your space needs or design preferences, doesn’t mean every quote is offering you the same package, high quality, level of protection/assurance or customer experience/journey (Remember: do you want economy or first class). So, how do you ensure that you are gaining REAL VALUE for your hard-earned cash.
Here is a link to another blog on ‘Selecting the right contractor. This provides lots of useful tips on how to level the playing field and understand what to look for when selecting your perfect project partner & preferred quote.
In conclusion, the cost of your project will be impacted by the kind of BUYING EXPERIENCE you want or need?
The price tag of anything (including a loft conversion) very much depends on YOU and what is important to you personally. Your personal preferences, standards, lifestyle requirements or even your technology aspirations.
REMEMBER: your loft conversion needs to be carefully executed to not only deliver on your immediate living needs, but provide a healthy return on your time, energy and financial investment.
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