As an experienced building contractor serving locations in and around Solihull and Sutton Coldfield, Dial A Builder constructs loft conversions of any kind. As the traditional climb up the housing ladder has altered over the years, these property alterations have grown in popularity. Not only do conversions increase habitable space, they also add significant resale value. Studies show this can increase can be as high as 20%, depending on location, house type and other variables. As an added bonus, loft conversions don’t eat into garden space, like house extensions do.
Evidently, converting a loft delivers multiple benefits. If you’re caught between improving your current home or moving to a new one, this blog presents 4 reasons why loft conversions make the ideal solution.
If you’re already set on converting your loft, please call us on 07888 555333. From Solihull to Sutton Coldfield, our building contractors happily visit locations throughout the West Midlands for initial consultations.
The Cost of Moving
With stamp duty to consider, the cost of moving to a new house soon adds up. While stamp duty makes up the bulk of any final figure, you must also factor in legal fees, hiring a removal firm and other incidentals.
While loft conversions in Solihull and Sutton Coldfield will inevitably cost more upfront, they represent an investment that adds value to your home. The cost of moving, on the other hand, is simply spent money you will never see again.
The rise in stamp duty is widely believed to be one of the key factors behind the ‘improve, not move’ trend. Quite simply, in England, you must pay stamp duty if you purchase a residential property which costs more than £125,000.
Stamp duty has several rate bands. For example, if your house costs £275,000, your calculation breaks down as follows:
• 0% on the first £125,000 - £0
• 2% on the next £125,000 – £2,500
• 5% on the final £25,000 - £1,250
If buying this property, you would pay £3,750 in stamp duty alone. As such, it’s no wonder why loft conversions in Solihull, Sutton Coldfield and across the UK continue to rise in popularity.
While money plays a huge role in housing, it isn’t the only factor at play. Quite simply, you may not wish to inflict upheaval on your family by moving to a new home. In today’s market, it’s harder than ever to find a bigger home that meets a budget – and that’s even before you’ve found a buyer for your own.
Factoring in school catchment areas, commuting times and ties to local communities, moving to a new house can soon become a daunting prospect. Loft conversions, then, represent a unique opportunity to achieve a bigger home with far less upheaval.
You Don’t Want to Move
In short, you might love your home and neighbourhood so much that you don’t want to leave. There’s no point in trying to improve an already perfect life. For many homeowners in Solihull and Sutton Coldfield, moving away from a cherished home and area represents a genuine risk to happiness.
From local social networks to having family nearby, loft conversions that increase living space allow you to stay in your much-loved house. They also make great solutions for home offices for anyone transitioning into a work-from-home job.