There’s too many options!
So What’s the Difference?
The main difference between an extension and a conversion is where the space comes from. With a conversion, the space created is already within the home, it might just not be optimized at present. An extension, on the other hand, requires external space, such as at the side of the house or at the back. Sometimes an extension isn’t always possible if there isn’t external space available to use, and other times a conversion might not be the best option if there isn’t much available space in the house already.
Which is the Cheapest?
There isn’t a simple answer to this question. The cost of an extension or conversion greatly depends upon what your desired outcome is. Often, a conversion is a slightly more cost effective option, but if the space – such as a loft – you want to convert is large or has a sophisticated design, this can add to the cost. With an extension, if you just want a single-storey extension, the chances are it will be cheaper than an intricate loft conversion, but if you desired a double-storey extension, you would see a large increase in the cost and also the time it would take to build.
With that said, building a home conversion, such as an extra bedroom and bathroom in the loft, could end up making you an income. You could rent out the space, making you a little extra to put in your pocket each month. It’s also been stated by Nationwide Building Society that adding a bedroom and bathroom in the loft can add a value of up to 20% to your property!
I Just Don’t Have Space
If it’s downstairs space that’s bothering you, an extension could be the answer. An extension could open up the space for you to introduce a downstairs loo, or a coat room, and is perfect for the current open-space living trend everyone’s loving! If you just feel as though there’s not enough room in your kitchen to entertain your family and friends the way you wish you could, an extension is definitely the best option! An extension also opens up the house so much more, and having a glazed extension on the back of your house will fill your home with so much more natural light, immediately giving it that fresh, modern feel.
Best House on the Street
Everyone wants their neighbours to be jealous of their house, it’s human nature! But there’s a big difference between having the best house on the street and having the unsellable house on the street. A conversion or extension can add value to your property, but there is such a thing as too much added value. If you convert your loft into a beautiful, spacious bedroom with an ensuite and maybe even a little office area, you’ll see the value of your house increase massively. This is brilliant, but if every other house on your street is worth 30% less than yours, you may be limited by the street ceiling price. The same goes for an extension, so always be aware that if you create a huge extension it should be for you and your forever home, rather than to make money when it comes to selling.
When it comes to the decision between a conversion and extension, it really comes down to your individual needs, what you want from your home and the internal or external space you have available. Budget is also important, but compromises can always be made.
The best thing you can do to help you decide between an extension and a conversion is to get in touch with us today. Highcraft South East have been transforming homes for a long time, and we can advise you on whether a conversion or extension is the best choice for you.