Home Owners Add Value By Going Up in the World, According to Ratedpeople.com

London, UK (PRWEB) June 13, 2009

Ratedpeople.com, the UK's largest match making service for home improvers and recommended tradesmen, suggests that home owners looking to upsize, could look at building loft conversions instead of moving and potentially losing money during the recession.

Since April 2008, house prices have fallen by 10.1 per cent according to Hometrack, making it easier for first time buyers to get a foot on the property ladder. However, this fall has had the opposite effect on existing home owners, making it increasingly difficult and impractical to move and upsize.

Even though the country is in an economic downturn, a loft conversion may still provide the opportunity to add value, and of course space, to a home which could further increase the long term saleability of the property once the market picks up.

In a recent poll undertaken by more than 330 Ratedpeople.com home improvers, 31 per cent of respondents thought that maximising the space in their loft with an extra room would add in excess of £15,000 to the sale value of the property, 24.7 per cent thought it would add between £5-10,000 and 19.6 per cent estimated between £10-15,000.

However, home owners should be aware that unless the project is well planned and executed, not all loft conversions add value to the property and can in fact, leave them out of pocket. Consequently, Ratedpeople.com suggests that home improvers should seek help and advice from architects and local builders to gain a better understanding of requirements to ensure that the conversion is a success.

Ottokar Rosenberger, Sales and Marketing Director of Ratedpeople.com, commented, "With the current state of the housing market, moving house has the potential to land some home owners in financial hot water. However, there are many other options available in terms of extensions and indeed, loft conversions to assist with increasing, and maximising, available space. If planned and completed correctly, both have the potential to add a great deal of value, and saleability, to the large majority of homes."

The quality of the materials used is also a determining factor to how much value a loft conversion can actually add to a property - poor materials can lead to a poor return on investment.

Ratedpeople.com has a nationwide network of tens of thousands of rated tradesmen, from local roofers to recommended carpenters, where users can read past reviews and get quotes from professional tradesmen spanning over 25 trades.

For further information on how to find recommended tradesmen to help with your loft conversion or home improvement project, visit Ratedpeople.com.

###

Share: