There is much discussion about how people are living in smaller homes. But then, these discussions tend to refer to young professionals and not growing families. In the past several years, expanding families are almost ‘forced’ to live in smaller homes, doing whatever it takes to squeeze into every bit of living space. With house prices rising, families are choosing to renovate their homes to provide additional living space by converting basements or lofts. Companies such as East London Loft Rooms have seen this trend first hand.
A report by the investment firm LV reveals that the average size of a family home has decreased in recent years. In 2008, an average family home measured just over 900 sq ft, several years later, this reduced by almost 11 square feet more. In addition, one in every eight children reportedly live in an overcrowded home. Experts believe this is due to increased house prices, causing people to remain in their existing home.
Squeezing More Space
If there’s not enough square footage, it pays to be resourceful. Pravin Muthiah, an architect for the Irish firm DMVF, advises that living spaces must be maximised. Keep in mind that most small, modern spaces provide both the living room and bedroom on one floor. To make the home feel more spacious, without extending the existing footprint, adding a mezzanine floor offers great flexibility and interest to a room.
This can only be achieved if there is sufficient ceiling height to begin with, according to Muthiah, the absolute minimum ceiling height should be 4.4 metres.
When it’s time to sell a home, it’s great to have upgrades that can improve the value. Among other things, a loft conversion offers a 20 percent market value boost, according to the Nationwide Building Society. If done properly, a loft conversion will pay for itself in no time. Coupling this with other upgrades such as a new roof or kitchen can add significant value to a home.