Budgeting For Your Loft Conversion in London: How Much Can You Expect to Spend?

Home improvements cost 40% more than they did two years ago because of a combination of different factors, such as; the Ukraine-Russia war, Covid-19 pandemic and Brexit. Despite this, UK homeowners are spending over £2 billion pounds a year on renovations, and continue to make the most of the place they love the most. Additionally, there is likely to be a housing market slump, which is causing many of us to sit tight and improve our current home, rather than look further afield, for now. 

One of the most popular home improvements homeowners are currently choosing to have done is a loft conversion. Loft conversions are a fantastic way to convert space in the home so that it can become a functional room. Of course, even with the added value of the conversion in both finance and function, there is an upfront cost that has to be considered and planned for with budgeting. 

How do you budget for a loft conversion? What is the cost of a conversion, anyway? Should you prepare for the costs creeping up throughout the project? 

All of these questions and more are answered below, so you know how to budget and plan for this exciting and transformative home improvement:

What Is A Loft Conversion? 

A loft conversion is an exciting home improvement project that switches the dead space in your loft to functional, safe, usable space you can use in any way you like. There are various different types to choose from, so you can get the exact conversion type to suit your needs. 

Key Benefits Of A Loft Conversion:

• No precious garden space is used up
• Perfect if you have no garden at all
• Access to higher-level light and views
• Rental potential
• Can be used as a home office, snug, spare bedroom and more
• Can include ensuites, kitchenettes and other features to create self-sufficiency
• Can add a lot of value to a home
• Particularly valuable in areas like London, where space is at a premium

How Much Is A Loft Conversion? 

A loft conversion, at its most basic, is the converted space of your loft, adjusted so it is safe and pleasant to use as a functional room. But there is no one loft conversion type – it’s never a one-size-fits-all situation. That is why there is no one price for a loft conversion because every project is different. 

What we do know for certain is that the cost of construction has risen, and loft conversions do cost more than they did a few years ago. This is for a large range of reasons, and whilst it does not impact the functional and financial value of having a loft conversion, it has to be part of the overall consideration of costs – especially if you’ve been given figures from an old online article, or even from a friend who had a conversion a few years ago. 

In regards to your own individual quote, your loft conversion will be designed and built around the nuances of your home. This includes working around previous building works, conservation considerations, historical considerations, the specifics of your house structure, and working within the needs of the surrounding area, and the neighbours – there is a lot to think about. 

Add to that your own needs and wants when it comes to the conversion – do you want skylights, windows, and added features like an ensuite? Your design options are vast, which is so exciting, but that will also impact the cost of the project. 

Lastly, there are different loft conversion types such as dormer, mansard and skylight conversions. We at Clapham Construction will be able to let you know which design types are suitable for your home, but the cost of each does vary because some types (see below), such as the mansard loft conversion, for example, require the roof to be altered to allow for near vertical walls, which naturally increases the overall project cost, as well as the available usable space. 

Of course, even with all of the above in mind, there are some very rough guide prices available to give you an idea of the cost of a loft conversion. 

Taking the average cost of a conversion from across multiple popular price comparison websites, the cost of a conversion can range from £15,000 to £75,000, with the average conversion sitting somewhere around £40,000 – £50,000 pounds. The lowest cost conversions are skylight conversions, where the loft as it is has work done to make it safe and usable and has beautiful skylight windows added. The highest cost loft conversions tend to be L-shaped dormer conversions which offer an incredible amount of space, and the ability to have multiple rooms and what can be a space totally separate from the main house, complete with a kitchen and one or more bathrooms/ ensuites. 

Average Loft Conversion Price By Design: 

• Rooflight – Around £15,000 – £25,000
• Dormer – Between £25,000 to £50,000
• L-Shaped Dormer – Between £40,000 to £75,000
• Hip-To-Gable – Between £30,000 to £60,000
• Mansard – Around £40,000 to £70,000

It’s important to also be aware that there will always be standard fees added to any loft conversion project. You should expect the following types of fees to be added to the project as standard: 

• Architect drawings of your conversion to be produced for the building team, council and regulations departments
• Certificate Of Lawfulness from the council
• Planning Permission applications
• Structural design process
• Party Wall application fees
• Building Control fees

All of these costs are subject to changes and potentially rising depending on adjustments, unexpected issues and other factors. 

How Do You Budget For A Loft Conversion? 

The single most important thing to do before anything else is to get in touch with us and get a quote. We will be able to discuss various different options with you and provide a transparent quote. This will include caveats that explain how certain costs could rise or fall, depending on the process. This will be events like difficulties with Planning Permission, Party Wall agreements and unexpected discoveries about your building construction discovered during the building process. 

Importantly, Clapham Construction will not only be clear and open with you about the attic conversion costs, but they will do everything they can to prevent your costs from creeping up. This will include helping you submit correct and detailed applications to the council, asking you for as much relevant information as you can give so that everything is considered when forming a quote for you, and having a building team coordinator who is able to keep you updated and talk you through any changes throughout.