Adding a Loft Conversion to an Investment Property

A few years ago Jon purchased a property in Clapham Junction as a ‘doer upper’.  Part of his renovation plans included a loft conversion and he used Econoloft to transform the attic space into an additional bedroom, walk in wardrobe and ensuite.  The loft conversion cost £28,000 and Jon sold the property two years later making a healthy return on his investment.

“The loft conversion added a great deal to the value of the house although of course the booming London property market helped,” he said.

Jon was so pleased with his first investment project; he decided to purchase a two bedroom terraced property in Tooting, SW17 to repeat the process.  His previous experience had shown that one of the best return on his investments would be another loft conversion to convert the 2-bedroomed home into a sought after 3-bedroomed family house.

“There was only one company I was going to call,” said Jon.  “I thought Econoloft had done a fabulous job on my previous conversion and I liked the site team so much that when I consulted Econoloft again I requested the same guys.”

Econoloft created a double bedroom Juliet balcony and ensuite bathroom which cost £32,000 and although Jon has not had this property valued yet he is confident he will make another significant profit.

He said: “The London market remains buoyant and I have done a lot of work on the property including the installation of a new kitchen. Initially I was considering extending the kitchen until local estate agents confirmed that this would not add nearly as much value as a loft conversion. This is without doubt the project that will add the most value.”

Jon now has two property renovations under his belt and says he would definitely use Econoloft for any future projects.  “I want to work with a company that has experience and reputation,” he said.  “I would never use a local building company because it’s just too much money to hand over to a small business that could go bust or could just disappear.  Econoloft has been around for a long time, it is a national company and there is always somebody on the end of the phone if there are any problems.”

Jon has decided to live in his Tooting home for a couple of years before looking for his next investment.

“I really like the property and the area and I think I need a couple of years to relax before going through the process again.  However, I am keeping my eye on other opportunities and will be sure to contact Econoloft when one comes up!”