The government has announced plans that planning permission will be scrapped for loft conversions. Homeowners now have the option to improve and add value to their property instead of getting tied up in the housing market in these challenging times.
Findings from the Royal Institution of Chartered Surveyors (RICS) indicate that a loft conversion could add around £10k on to the value of the property. Three in ten homeowners feel that converting their loft into a usable room is the best way to add value to their home.
According to Mark Boyle, Personal Loans Manager at Alliance & Leicester: "In an uncertain economic climate where homeowners are finding it too expensive to move house, the Government's plans will be welcomed with open arms. While it may prove too costly to upsize to a new home, converting a loft into a useable room can not only increase the size of the property, but it can also add value to the house price, benefitting homeowners when they eventually come to sell."
"Homeowners may want to consider taking out a personal loan to fund loft conversions and other home improvements to add value long-term value to their property. However it is crucial that they shop around for the best deal to suit them in order to make the most of their investment."
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Posted
Nov 05 2008, 10:28 AM
by
Graeme
