Posts Tagged ‘loft conversion investment’

Loft Conversions in the Current Housing Climate

Loft Conversions – involves converting your attic into a habitable living space. In the current climate, UK house prices are somewhat stagnant and I am including London in this statement. Those wanting to get on to the housing ladder need to have a significant deposit (atleast 25%) to obtain a decent mortgage interest rate. Landlords are the new capitalists and demanding high rents given the shortage in supply. It seems for many to be a losing battle whilst lives are literally put “on hold” and pumping more dead money into other peoples pockets.

The recent recession has created a baby boom – it is now blossoming and many families are out growing their current homes. Moving house on average cost atleast £8,000 taking into account estate agent fees, days off work, removal, storage costs, solicitors, bank charges not to forget the added stress as you go through the housing transactional process. This is why a loft conversion is strongly being considered by many especially those in London, who have built local ties and a feeling of community. It avoids the upheaval and there is no longer the requirement to detach oneself from the many happy memories they have built from their home. Kids are able to keep and build bonds with their friends.

A loft can be converted from as little as £24,000 and the process can take only 4 weeks.