Loft conversions 'are a sensible use of a homeowner loan'
Published On 9 October 2007
People should consider using a homeowner loan to fund a loft conversion, an industry expert has said.A spokesperson from Econoloft said that loft conversions were now considered more desirable than conservatories. This means that they could prove to be an excellent use of a homeowner loan.
"The common consensus at the moment is that [loft conversions are] the favoured option of estate agents who used to advise clients to build conservatories," she explained.
"They now think that loft conversions do much more for you and give you the 'wow factor'."
"With house prices in the south, for the price of moving you can have a loft conversion and you are one rung up the ladder without having to move the children, change schools or disrupt the household. When you do come to move you have a more expensive property to sell."
However, the Econoloft spokesperson said that it was important that the conversion was "nice" and not "cobbled together by the householder or a cowboy builder".
A recent study by Nationwide suggested that adding a loft could increase the value of a property by 20.9 per cent.
