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Introduction.

With the housing market remaining stagnant and with no sign of any easing in the mortgage borrowing markets, increasing numbers of homeowners are borrowing money to add attic rooms to their properties. It’s quite simple really, if you need to expand the space you’ve go available in your home but can’t add an external extension to your house, then making better use of the roof space should be the proverbial ‘no brainer’.

Why do people add an attic room?

An attic room this big could be a combined bedroom and study.

 By far the most common reason for people seeking a money loan to add a room in their attic is to make an extra bedroom as their family increases. Another common use for attic rooms is as a study. Being in the attic there’s less chance of unnecessary interruptions and yet you can have all the necessary communications and IT services at your finger tips. With more people both being able to and choosing to work from home, adding a study into the attic could be an ideal choice. Some people, who have been made redundant in this current recession and got a redundancy package, have made the decision to work for themselves in the future. For them spending a little of their redundancy money to build ‘attic home offices‘ from which they can work, makes eminent sense. Finally, in the absence of being able to move house, some people are simply seeking to maximize the value of their home for when the recession does end and they can afford to move. So, for them taking out a small loan to add an attic room is simply an investment for the future.

Costs for adding an attic room.

Even if you have the land around your property to add an external extension, adding an attic room will cost you much less and free you up from a lot of expensive and time consuming red tape. Depending on the exact specifications you want for the attic room, and if you’re able to do some of the work yourself, one can be added for as little as $20,000 compared to at least $50,000 for an external extension. For most people getting and repaying a money loan of around $20,000 is within their budgets, whereas a larger one might be more problematic for them. If you can afford to take out a bigger loan, then adding a large attic bedroom with an en suite bathroom will really pay dividends in the long run.

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