How Roof Space Development will add value to your property | BRAC Developments

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How Roof Space Development will add value to your property

9.03.2020

If you are a property owner, whether on a large commercial scale, or simply are a homeowner, then you will know what it takes to look after the property. Any property that you have should be considered an investment, because that is what it is. But as a result, it is a good idea to look for ways to really make the most of the investment that you have. It could help with paying off a mortgage early, or perhaps help you to develop a second income, allowing you to have greater financial security. Whatever your goal is, you need to make sure you’re making the most of the property that you have.

There are a number of ways to make the most of your property, but one that we at BRAC Developments, air space experts, can help you with is developing your roof space; it can be a big benefit and could be something that is lucrative for you.

Housing shortage

The facts are there, we are facing a housing shortage in the UK, with around 3.6 million people living in what is classed as an overcrowded home. Alongside that, 2.5 million people aren’t able to afford rent or mortgage, and the same number again, 2.5 million people, are living in what is classed as ‘hidden households’ where they can’t move out (such as living with parents, house shares, or living with an ex-partner.

So there is a large number of people that are looking for somewhere to live, and for new homes that they will be able to afford to live. Could your roof space be a development that could pay off? There is also a shortage of land that can be developed and built on, so using existing properties and converting some of that space into flats can be a good thing to do.

Location, location, location

With property, location is everything. And although there is likely to be demand in all sorts of locations, you will be able to charge more competitive prices if you already have a property in a city centre where there is much higher demand. As a result, it could be a very lucrative option for you. Simply put, if you can make an investment by developing properties with roof spaces, where the demand is high, it can really pay off.

There are some things to think about, such as whether the roof space can be sold or rented on the open market? Some points to think about are if there is a way to access the space if it was to be developed as a separate space, and also if your roof space development would be viable, with a view of planning in mind.

Get in touch today, BRAC Developments will be able to guide you on rough estimates. Combined with an idea of what rentals or properties go for in your area, you can see if it is going to add enough value for you. Just call 01268 573933 or email enquiries@brac-contracts.co.uk