Paul Georgian Owner

The Buy2Let Shop Limited

The Buy2Let Shop Limited is a property investment company based in London UK and deals with investors at novice/beginner level or advanced property investors. We offer professional services to vendors looking to sell their home to investors looking to build their portfolio.
The Buy2Let Shop Limited South Tower, 26 Elmfield Road Bromley BR1 1WA
020 3837 3300
20 February 2017
20 February 2017,
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When viewing buy-to-let property for sale, you’ll probably be thinking about how you can add value in capital growth, not to mention make the house more appealing to tenants.

One of the most popular ways to improve a property is to add a loft conversion. The big question is – is it worth the extra expense?

The Benefits of a Loft Conversion

The main advantage of a loft conversion is that it adds space to your property. If you’re investing in UK property with the intention of converting it to an HMO, this could equate to one or two additional bedrooms – which equals a far more sizeable monthly rental yield.

If the loft is a good size, it’s also possible to add a bathroom up there, or extra living space if you’re trying to appeal to a family market.

The Costs Involved

Exact costs vary, depending on the nature of your conversion. A basic conversion, which doesn’t involve any major structural changes (i.e. just installing velux windows into the roof) may cost as little as £10,000. However, if you’re going for a more comprehensive conversion, complete with dormer windows and an en suite bathroom (for example), expect to pay around £40,000.

Questions to Ask

When viewing buy-to-let properties for sale, it’s important to consider the following:

  • Is the attic space suitable? It’s not just a matter of available floor space. If the height of the roof is too low, this will make it unsuitable for conversion – unless you’re prepared to take on the extra expense of changing the roof height.

 

  • Can you get planning permission? Don’t just presume that you’ll be able to convert the attic – ask the estate agent or property investment agent. If neighbouring properties have converted their attics, then this is a good sign that you’ll be able to get permission to convert yours.

 

  • How much will you generate in return? Before committing, always work out your ROI. If the attic conversion will add another bedroom, how will that affect your monthly rental yield? How much value will it add to the property? Are attic conversions sought-after in the area? Always do your research first, and work out whether or not it’s a viable option.

 

  • How much will you pay? It’s worthwhile getting a few local builders / architects to visit the property, to provide you with a solid quote for the work. This enables you to work out a budget and estimate your return on investment.

Finding the Right Buy-to-Let Property for Sale

If you’re serious about investing in property in the UK, it’s important to find the right house, in the right location. To add value with a loft conversion, you’ll need to identify a property that offers the right dimensions, and the potential to extend your rental yield, not to mention the house’s overall value.

By working with a property investment agent, you’ll have access to a wealth of properties that are suitable for conversion and improvement – at a price that suits. The Buy2Let Shop have a wide range of available properties on their books, all priced competitively to sell, which aren’t available to the general public.

To find out more about our services, simply visit The Buy2Let Shop website today.

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