Phil Spencer gives loft conversions a thumbs up!
Phil
Spencer, along with his TV partner Kirstie Allsopp
has set himself up as a property guru presenting hugely popular programmes such
as Location, Location, Location and Relocation, Relocation, Relocation. In fact Phil has written a book all about
getting money from your property, entitled Adding
Value To Your Home (Vermilion £12.99)
In a recent interview with the Telegraph
Phil shares some of his professional tips and not surprisingly top of the list
for adding value to your home is a loft conversion.
Phil says he is using a recent survey of 110 estate
agents, carried out by mortgage lender GE Money, which concluded that a loft
conversion adds an average 12.5 percent to the selling price. Phil says spending £20,000 on a loft
conversion can add £40,000 the value of your home.
And of course Mr. Spencer is not alone in citing the
value of a well planned loft conversion.
Time and time again estate agents and lenders say that you can’t lose
with a loft conversion, especially in areas where property prices are at a
premium.
Loft conversions are often less hassle and less expensive
than moving, they provide the space you need in the short term and according to
the experts, provide added value in the long term.
Becke Livesey from Econoloft which builds around 300 loft
conversions every year said: “It’s
always good to see yet another property expert recognising the value of a loft
conversion. More and more people are
looking for extra space without having to move and expanding into the loft is a
win-win situation.”
Other ways
to improve your home include building a conservatory, having a basement
conversion, making your garage into a room, paving the front garden, external
painting and changing the windows.
Inside, Phil’s
advice is to invest in a decent kitchen, to create larger rooms by knocking
down walls and having a bathroom with the wow factor.
