How Much Does A Loft Conversion Cost in 2020?
Moving house is a tiresome and expensive, hence it is better to take a look at loft conversion cost in 2020 before making any decision.
Moving house means you need to sell your existing house and buy a new one. But there are lots of things that make this process expensive. Stamp duty bills alone can cost tens of thousands of pounds. Instead, you can convert your loft to get that extra space that you are looking for. There are also many other ways to improve living space in the house.
Converting a loft is an easy and cost-effective way. In this article, we will discuss the loft conversion cost in 2020.
Loft Conversion Cost in 2020
The cost depends on various factors such as floor area, access, structure and typically ranges from £20K to 60K. If you are going to make significant changes then this cost can be higher. Furthermore, recent research found that a loft conversion with a double bedroom and bathroom can add 20% to the value of your property.
When it comes to planning permission, converting a loft does not require it. However, there are some limits that you cannot exceed. In such cases, you need to planning permission. It is better to check the government website and visit the local council for more information on the rules.
Ways to CoverLoft Conversion Cost in 2020
There are different ways in which you can fund loft conversion.
Most of the people prefer to cover the cost with their savings. But some people do not have money and want extra space for their family. For such people, there are some options such as remortgaging. Although, they need to make sure that they can afford higher mortgage payments.
If you are one of them who owns an old house then you may have a problem. Because many lenders impose an age limit. Furthermore, you need to show them that you have a stable income and a retirement plan.
Planning and Professional Fees
If you do not require planning permission, then you need to obtain a certificate of lawfulness which will cost you £86. But if you need a planning application then you can expect to pay £172. Furthermore, you also need a party wall agreement in case of an attached house with your neighbours. This party wall agreement costs from £700 to £1000 per neighbour.
Other costs include building control fees which are around £500 + VAT. The homeowner needs to pay this fee to the local authority. It is required to check the work and issue a regulation certificate.
If you are working with a design & build company then the cost is included in the quote. However, in the case of an architect, you need to pay three to seven per cent of the construction cost for the design fees. Other costs include £2,500 to £4,000 for the planning drawings and the same for the construction drawings.
How Long Does It Take?
Typically, converting a loft takes four to six weeks and can be done without disturbing the existing house. However, there are some projects in which you need to remove the roof, such projects can cost higher. Loft conversion cost in 2020 is still cost-effective and cheap compared to other home improvement projects cost.