Although you might want to add more space to your home by having a loft conversion in Derby, money could well be what’s holding you back. Even if you know it will add value to your property and make it a nicer place to live, that doesn’t mean you’ll have the cash you need set aside for this kind of large-scale project.
However, there are a number of ways in which you can finance big home renovations like this, as recently detailed by Money to the Masses.
The website highlighted just some of the options open to you, although you should always seek financial advice specific to your circumstances from a professional before you make any decisions.
One way to fund a loft conversion is to apply for a home improvement loan. While this is essentially a personal loan, there are some products with highly attractive rates available at the moment, and the website noted that you’ll get the best deals if you borrow between £5,000 and £25,000.
This could be a good choice if your loft conversion project comes in within that price range, or even a little over it. For larger renovation works (those expected to cost £50,000 or more) remortgaging is likely to be a better option.
Building up by adding a loft conversion could be a really good way to get some more usable space in your property. Research from Knight Frank recently suggested that this could be a viable way to introduce more living space in the UK’s capital, and the same is likely to be true in cities around the country.