A Loft Conversion Cost Formula

It’s not an exact science but one way to calculate the loft conversion cost of the project you are considering is to use a very simple cost formula. The formula is:

Sq meter of roof space x £1200 = cost

So, for example, if your roof space measures 4x4 meters than the a guide price for converting that loft would be £19,200 (4x4=16x1200=19,200).

Whilst obviously not cast in stone this seems to work nicely as a specialist building company would probably quote around £19,000 for a standard en-suite bedroom conversion though, with optional extras, furnishings and finishing touches, this sum could easily double.

Of course there are so many variables in calculating a loft conversion cost including location, roof structure, access, design etc., that although the formula does give a useful guide it should in no way be taken as gospel.

loft conversion cost

Specialist building companies in your area may be willing to give you a ball park figure as an estimate based on their experience but, as anyone who has any experience of dealing with builders will know, initial estimates can bear very little resemblance to the final figures involved.

A better way to calculate your budget is to enlist the help of a building surveyor or the architect / draughtsman who is doing your planning drawings. They will have plenty of experience with projects such as your own and will be able to give a pretty accurate estimate of the final loft conversion cost.

When drawing up your budget there are two very important things to consider and to take control of.

Funding

Whatever the source of your funding, and in these troubled financial times make sure you get the advice of an independent advisor on the best way to fund your project, it is vital that the funding is in place, in full, before any work begins on the build.

If there is one thing that is guaranteed to sour your working relationship with your builder it is delaying payment.

Of course, you should never pay in full in advance but you should arrange a schedule of staggered payments with your builder and ensure funds are in place to pay those payments on time. Failure to do so will result in disagreements with your builder and delays to the project.

Keep A Bit In Reserve

One of the best pieces of advice I have ever received was to add a 10% contingency fund to your budget. No matter how accurate your initial budget forecast and no matter how good your project management skills there will inevitably be unforeseen costs that crop up.

By adding a 10% failsafe to your budget those unexpected additions to your loft conversion costs won’t throw a spanner in the works and will ensure that the project proceeds nice and smoothly.