A usable loft space is becoming an increasingly important selling point for homebuyers, with estate agents reporting that accessible and well-presented lofts can add thousands of pounds to a property’s value and help homes sell faster.
Research commissioned by LoftZone found that a boarded and easily accessible loft can add an estimated £17,677 to the value of a four-bedroom home, £13,821 to a three-bedroom property and £9,867 to a two-bedroom home.
The findings come as agents report growing demand from buyers for practical storage solutions and better use of available space, particularly in what many describe as one of the strongest buyers’ markets in recent years.
According to the survey of 500 property professionals, 80% said buyers are paying more attention to how efficiently space is used within a property than they were five years ago. More than half (52%) said house hunters frequently include loft space on their list of desired property features.
ADDING VALUE
Estate agents also identified loft improvements as one of the most overlooked ways to add value to a home.
Around 31% said creating a functional loft was the most overlooked value-adding improvement, while 32% ranked it as offering the best return on investment.
The research suggests buyers are increasingly factoring loft usability into purchasing decisions.
Some 45% of agents said buyers had been put off making an offer, or reduced their offer, where loft space was inaccessible or unusable.
USABLE SPACES
Peter Thum-Bonanno, Co-Founder and CTO of GetAgent, says: “In line with wider trends across the market, buyers are focused on practicality and unlocking more useable spaces, so a loft that is safe, accessible and genuinely usable isn’t simply a nice-to-have, it justifies higher asking prices.
“Storage space is one of the most requested features by buyers, and boarded lofts, lit and accessible via a proper ladder, signal that the home has been well thought through and cared for, increasing buyer confidence which often translates into higher offers.”
The research also found that 92% of agents believe a clean and well-presented loft can help a property sell faster, while 90% think loft spaces should be included on property floorplans in the same way as cellars.
HIGHER LISTING PRICES
Dave Raval, CEO of LoftZone, which commissioned the research, says: “Clearly there is a strong case in the current housing market for making the most of every square inch of space in your home.
“For those with lofts, this can translate directly into cash in the form of higher listing prices, as long as the space is functional and well-presented.
“The other good news is that it doesn’t take much work to unlock this significant value through creating a welcoming, usable space, which is safe to move around in and still performs properly to keep your home warm in winter and cool in summer.”
