Homeowners in Scotland are opting to renovate rather than relocate as the property market leaves many feeling shaky over what exactly their property is worth.
Articles and opinion writers in Scotland's leading newspaper, The Scotsman, have dedicated many column inches to the state of the Scottish housing market. “The Scottish housebuilding industry is in crisis,” wrote its business correspondent as the property market weathers one of the worst financial storms in recent history.
The general feeling is, hesitant homeowners are more likely to opt for a loft conversion in Scotland, invest in their homes, and stay put, rather than risk losing tens of thousands on the value of their home with a potentially risky house sale. And for many, even if they do want to sell, or need to sell, the buyers have dried up.
Loft Conversions in Scotland for Added Value
The issue in Scotland facing house buyers and sellers is how much is a property worth? The Scottish housing market, unlike the English property market, relies on valuations and market forces. Buyers present sealed bids, but it's hard to estimate a bid if houses aren't selling and market forces are therefore, somewhat vague. The whole process becomes even more of a gamble. Homeowners instead are opting for home improvements and finding ways to utilise existing space. And the best way of creating extra space is to opt for a loft conversion. A loft conversion won't impinge on valuable garden space like an extension would. And by using a professional loft converter, it's possible to create a stunning, architectural room that not only can add up to 20% on the value of a home, but create something of a wow factor. Loft conversions are a way to maximise space for family homes that can benefit from an extra bedroom or bathroom. Or alternatively, a loft conversion in Scotland offers the chance to enhance our lifestyles with a dedicated extra room to suit individual needs – whether it's a home gym, home office or creative studio.
Improve, Don't Move
Valuation is a dark art in Scotland, even more so after the property market slump. Transaction levels in Scotland in 2009 fell as low as those in the mid seventies, with mortgage applications dropping dramatically. The message for many is: if you can't move, improve. Although the market may pick up, property prices across Scotland as well as the rest of the UK, will probably face a correction. For homeowners looking to salvage falling property prices, loft conversions are consistently shown by surveys and research to offer the greatest return on investment.
Looking for loft conversions in Scotland? Call Truss Loft on 0800 195 3855 or email the sales team now:
sales@trussloft.co.uk