If you would rather improve than move this year and a loft conversion in Ripley is one of your options, it’s vital that you cost it out properly before you get stuck into the project.

The Times recently outlined the cost of the different kinds of loft conversions available, to give you an idea of how much you’ll need to spend – and that will give you a chance to work out if it’s what you want to do.

According to the news provider, a basic conversion with a staircase leading to a bedroom and basic bathroom can come in at between £100 and £168 (plus VAT) per square foot. If you want to add a dormer to this, it’ll be a bit more expensive, while a mansard conversion will mean the average cost per square foot is closer to £204.

Another thing you need to consider, aside from the cost of physically carrying out the conversion, is getting a party wall agreement with your neighbours if you have a terraced or semi-detached house. You can expect these to cost around £700 each (plus VAT).

There could also be additional expenses if your property is in a difficult-to-access area, so be prepared for this too.

If you decide that you don’t want to go the whole way with a loft conversion, you could always look at the options for making it a better storage space. As well as giving you extra room for your stuff, you could also make some extra cash by hiring it out.

The Manchester Evening News recently revealed that you can earn up to £2,000 tax-free a year for renting out storage space in your home, with half a small loft able to earn around £80 a month.