A fifth (20 per cent) of homeowners have undertaken conversions, with 27 per cent saying that increasing the home’s value was the main driving factor behind their decision.
With ever-increasing house prices, the rise in stamp duties and new planning permission regulations easing the conversion process, it’s no wonder British homeowners are making the most of their properties. A fifth (20 per cent) said they wanted to make the most of the space they had and 17 per cent admitted that they would have preferred to keep the ‘dead’ space as it is, but needed more room and couldn’t afford to move.
The study of over 2,000 UK adults also found that:
- Attics (52 per cent) are the most popular option for canny converters and the average conversion costs £10,391
- Almost one in five (18 per cent) convert to make space for adult children
- The value of possessions in rooms that were previous ‘dead’ space is £28 billion
- Sheds are also being used to create alternative living or even work space with 15 per cent of homeowners converting them into ‘Outhouse Offices’
Formerly home to broken furniture and dusty boxes, attics are the most popular option for canny converter with more than half (52 per cent) of all home extensions heading upstairs. Garages have proven a popular choice with almost a third of converters (29 per cent) booting out the car to make room for sprawling family space.
Most popular ‘dead’ space to convert:
1. Attic/Loft
2. Garage
3. Shed/outhouse
4. Basement/cellar
5. Bathroom
Most popular rooms to create:
1. Family bedroom
2. Guest bedroom
3. Office/study
4. Bathroom
5. Dining room
Thrifty Brits
With the average house price around £210,000, conversions are a cheap method of increasing a home’s value, with almost a third (27 per cent) of homeowners citing this as the main reason for undertaking extreme DIY. Savvy spenders are also finding it doesn’t cost the earth to increase a home’s space, with almost half (43 per cent) of all conversions costing less than five thousand pounds.
Flying the Nest?
With adult children increasingly living at home into their twenties, it’s not surprising that almost a fifth (18 per cent) of those who’ve converted did so to make space for their adult children and that family bedrooms (32 per cent) are the most popular conversion.
In an attempt to keep the office a safe distance from home, the trend for ‘Outhouse Offices’ is becoming increasingly popular, with 15 per cent of homeowners converting their sheds and outhouses into working spaces.
Janet Pell, head of home insurance at AA Insurance, said: “Many homeowners relish turning unused or ugly areas of their homes into liveable rooms as it means more space for family and less dusty boxes and clutter. But it is important that you ensure you have the appropriate building regulations approval before going ahead. And make sure you update your home insurance cover following an extension or conversion – your three-bed cottage might suddenly become a four-bed house – and of course, you’ll have additional furniture and possessions, too.”
