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:
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.