ppor loft conversion. Worth it?

[Paterson00]

Hi all

I know the process I need to go through to find out the answer but I thought I would ask here anyway as well.

I am just about to settle on my first oz ppor. It has a huge roof space and is a modern home 2006 I think. I would like to know how common it is in this country to carry out a lift conversion ie put some stairs in and have a huge bedroom or two up there.

In the UK where I'm from they are very common and works cost about $40k to install.

This would turn my 4 bed into 6 and although I don't think the area demands a six bed house (does any? ), if it gives me a larger equity to use for an investment I'll be happy to do it.

Any thoughts appreciated. ..

Paul

 

[pinkboy]

Will the rooms be habital size?

pinkboy

 

[Paterson00]

I haven't had a proper measure up yet since I haven't moved in yet but I expect they will be.

 

[westminster]

It's somewhat common but most of the roof pitches here aren't tall enough to create a habitable room - ceiling height must be 2.4m in part of it.

Attix conversions are the most well known company in Perth

http://www.attix.com.au/

Extra bedrooms over 4 doesn't always give extra equity/valuation so do read carefully.

 

[Tim Guest]

Attic conversion

$40,000 is not a lot of money to spend on a home worth say upwards of $500,000. But if the home is only worth in the vicinity of $300,000 I would probably advise against it. Cheers

 

[Paterson00]

Thanks to both of you for your replies. I'll have a measure up when I get into the place. I paid $465k for it and I'd like to create equity somehow. The area is mostly 4 bed and I paid about the average price for the area and I never bought deliberately to create equity so I wouldn't be suprised if I will struggle to do so.

I might upload some photos and see if anyone has some suggestions how else I might be able to create some equity once I'm in.

thanks again

 

[vaughan]

Heat is probably not a problem in the UK, but every loft/attic conversion I've inspected in Sydney is stinking hot in summer, even with aircon running flat out. For this reason I don't like them.

 

[Paterson00]

That's a very good thing to consider actually Vaughn, thanks for highlighting that. It could be horrible....

 

[Charlotte30]

Loft Conversion

The original structure of the roof would be important consideration. A truss type roof would incur huge expense to be able to create rooms inside. A rafter style would be much cheaper as it has less structural work. I suggest that you get builders advice.

 

[gaiusb]

Actually for the ceiling height it can be min 2.2m in an attic, for at least two-thirds of the floor area of the room or space. This is contrary to the usual 2.4m ceiling height required in other habitable rooms that aren't attics. This is straight out of the BCA.

Also to make it a habitable space you will require natural light and ventilation, so you will likely require ventilating skylights.

 

[Biz]

Can be done but you probably won't get change out of 100k.

 

[wallace]

ive been looking at this lately for an investment property. 40k for a 20sqm "dry storage" room. double it if you want a bedroom the same size. for 80-100k as an investment, it doesn't add up I don't think. For a PPOR, well... that's up to you