Loft extension

[dmcleman]

Does a loft extension add value to a property? What I'm thinking of is a large room with a mansard/dormer extension to one side as opposed to two sloping sides, and an ensuite. The property is a two bedroom maisnonette in east London, currently worth about �150K and I'd expect the extension to cost about �30K(?).

[becks]

Generally as a rule, from extensive watching of housey programmes - particularly that carol vorderman one, it seems that rooms add value - so i would say yes, although iw wouldn;t want to hazzrd a guess as to by how much, might be worth talking to an estate agent? good luck x

[FTVS]

Do you need the extra room? If you do, do the extension. Don't do it purely to add value as who knows what the housing market will do? What if it ends up costing more than 30K? If you don't need thre room, you could get the planning permission etc and then sell on the bais you alreday have planning permission to convert and let someone else take the risk and endure the hassle whilst selling it as a 2 bed with 3 bed potential...?

[Scamp]

Hi. Lots of people are having loft conversions these days because it's cheaper and more convenient than moving. A loft conversion should start at around �15k upwards. I think it is worth it, especially if you were to put a bathroom in (or shower/toilet/sink). If you can add a room and a bathroom you will be adding plenty of value, even with another room you'll be adding value. You can expect to get your money back and more. Make sure it's not top heavy though. Are you thinking of using any equity - you mentioned that the value of your house is about �150k. Make sure you don't overspend, do some calculations to check you will be able to pay your mortgage, bear in mind interest rates as well. It's probably best to do a worst case scenario in terms of what you can afford then take it from there. You will need planning permission as well. Good luck.