Well at the end of the day estate agents usually come in with their fancy electronic laser measure and take the dimensions of your home. They then take into account some of the fixtures and do a very technical calculation that comes out with your price they are going to market it at. There and then if someone likes it they will buy it.
So if you contact your local estate agent and can get the square metre cost for your area and do the calculation against what you might pay for your loft conversion then you'll find out if its worth it.
Having said that if you are desperate for space and your only other option is to move don't forget to weigh up stamp duty, moving costs and what you are gaining from the move.
Here's some house prices per m 2
The ten most expensive cities based on price per square metre:
1. Westminster, London, £7,586
2. St Albans, South East, £3,227
3. Oxford, South East, £2,821
4. Winchester, South East, £2,813
5. Chichester, South East, £2,638
6. Cambridge, East Anglia, £2,634
7. Brighton, South East, £2,549
8. Bath, South West, £2,376
9. Edinburgh, Scotland, £2,125
10. Salisbury, South West, £2,060
The least expensive cities based on price per square metre:
1. Londonderry, Northern Ireland, £817
2. Lisburn, Northern Ireland, £945
3. Hull, Yorkshire and Humberside, £1,027
4. Bradford, Yorkshire and Humberside, £1,042
5. Swansea, Wales, £1,063
6. Belfast, Northern Ireland, £1,064
7. Durham, North, £1,104
8. Stoke On Trent, West Midlands, £1,126
9. Sunderland, North, £1,129
10. Newport, South Wales, £1,134
(Source Telegraph Oct 2012)
Thus depending on size of your loft and the overall finish, according to these prices even most of the homes in the bottom 10 would benefit financially from a loft conversion if you decided to sell your home.
26 March, 2014