Space is a precious commodity when it comes to your home or property as it expands the horizons of the possibilities you can explore in your home and even increases your property value by opting for loft conversions or house extensions in London. However, the recent pandemic and increasing labour and raw material costs have also taken a toll on the speed and price of upgrading your property as it can take months to get a builder on board for managing your loft conversions and house extensions.

According to MyBuilder, the waiting lists are increasingly growing or both large and small firms who have also estimated that there will be around a 20% increase in the overall cost due to the combination of factors that have arisen as a result of the pandemic, even if clients book ahead and plan for their projects.

Time duration of loft conversions
When the lockdown was lifted, a flood of individuals rushed to finish work on their homes, both here and abroad. As a result, demand for imported commodities has skyrocketed, including lumber, plastics and polymers, paints and resins, roofing materials, aluminium, and steel.

According to Noble Francis, the Construction Products Association’s economics director, shipping prices have risen dramatically due to port delays, particularly from China. Francis also notes that in July 2021, the price of imported plywood was 82% more than a year previously, while the price of manufactured structural steel was 65% higher.

Meanwhile, the scarcity of HGV drivers has hampered the delivery of items from the United Kingdom, such as cement and bricks. In addition, post-Brexit, there is a labour shortage. According to him, the number of construction workers from the EU has decreased by half since 2017.

As a result, small and medium-sized contractors with projects lined up for the next six to nine months are completely booked, according to Francis. Previously, loft conversions, which would ordinarily take between eight and ten weeks to complete, now take between 12 and 16 weeks, according to Dale Chadwick, a Devon-based builder.

Types of loft conversions and their costs

There are four different types of loft conversions, and the prices vary significantly depending on which one you select.

Roof light conversion
This entails installing a skylight window, laying a floor, decorating, and installing a staircase, which is the cheapest and least problematic approach. The price typically ranges from £15,000 to £30,000, depending on the size and quality of the construction.

Dormer loft conversion
This conversion extends the existing roof with vertical walls that provide floor space and allow for windows, which is the most frequent style implemented. They cost between £30,000 and £50,000 and are suited for most homes with a sloping roof.

Hip-to-gable conversion
This conversion involves replacing one of the roof’s sides with a vertical end wall, thereby increasing the amount of internal space available in detached and semi-detached homes.

Mansard roof conversion
With sloping walls and a flat roof, this method substantially modifies the look of a house. These larger projects can cost between £50,000 to £60,000.

As a homeowner opting for home conversion or extension projects, you should be aware that according to the statistics shared by MyBuilder, with the recent spike in building prices, you’ll more likely be paying at the higher end for your chosen conversion. However, other important factors that come into consideration for setting prices are the location of your property and the materials used for the project.

For example, bathroom installation or premium materials and finishes will normally be more expensive in London.

Time and cost are the primary factors under consideration when you’re planning for a loft conversion which is why you should discuss any budget and time constraints with your chosen builder to ensure the prompt completion of your project.

Ready to transform your home via extending at the back or adding spacious loft? Capital Loft Conversions Ltd are the industry experts, specialising in designing and installation of custom and high quality loft conversions and house extensions across London and the M25. If you would like to discuss any of the information in this blog further, we’d be happy to chat with you. 

Please Contact us today to arrange a free, no obligation site survey.