How To Make Your Loft Office Conversion Pay For Itself
Ever wanted to work from your own home?
If you work in a mobile capacity or would like to someday, read our article which aims to provide a little insight into the growing trend of working from home.
Working from home has increased in popularity and so has the demand for freelancers and mobile workers. If you could work from home but have put it off because of finances or just don’t want to bring work home with you. We believe we have the solution.
A loft office conversion that is completely out of sight and out of mind once you finish your workday. Fakro fold-away staircases are used which because they aren’t permanent will be folded away leaving your loft office hidden. This causes us to completely “shut out” work enabling a much easier work/life environment.
You may be thinking that a Loft conversion sounds like the best alternative but unsure where the money will come to finance this? Prices start from just £4500 and we provide an online loft conversion cost calculator to help you decide. EcoLoft believes our loft offices could pay for themselves once you take into account your current expenditure and factor in taxable assets.
Here’s a fictional case study
Read our completely made up case study of Ben to get a better picture:
Ben is a freelancer, he rents an office which is an average of 45 minutes commute from his home and has lunch in the centre each day. Ben pays £400 for the office he rents each month and charges £25/hr which he has been doing for years.
He knows that he can work from home and decides to research how he can achieve this effectively without merging his home life with his work which most would consider (myself included) very important.
Ben finds that he can convert his existing loft space into a loft office. After discovering our great website he finds that he can have his loft converted to a loft office for as little as £4500 and starts crunching some numbers.
He can afford the conversion and wants to justify his spending, so he breaks down his current expenditure for working at his office. This is broken down as follows:
Monthly outgoings whilst working at an external office
Office rent = £400 per month
£4 each day travel x 21 days work average = £84 per month
Lunch in centre £4 each day = £84 per month
16hrs lost revenue from commuting = £400
That’s a saving of £968 per month
Monthly outgoings working at home
To afford the loft office ben gets a loan for £5000. The loan which is at 8% equates to £5,827.70 over the course of 4 years which equals £121.41 per month.
Ben is now £847 better off each month!
So that is absolutely amazing and he couldn’t be happier but after Ben’s loft conversion he wonders if his new loft office has increased the value of his home. He has a number of valuations and was astounded to find that his £4500 investment has increased the value of his home. His investment of £4500 has not only added £4500 to his home but it has doubled – adding £9000!
Okay, this figure may be fictional but based on recent surveys such as one outlined in the guardian have documented properties adding in a surplus of £20,000 to their home from a £10,000 loft conversion investment.
Also to further save money many may not realise that if they decide to work from home in any capacity when completing self-assessment they can deduct certain expenses against their household bills!
This includes electricity, water, mortgage, etc. Calculations can be made online using websites such as this website.
How things have changed in 2022
Working from home has not only become an increasingly popular trend in recent years, but it’s now became a necessity for most people around the globe.
Since the covid-19 pandemic, it looks like this trend is here to stay.
There are plenty of reasons why working from home is popular though even before Covid-19.
For one, it can save employees a lot of money on things like commuting costs and office space rental. Additionally, it gives people more flexibility when it comes to their work hours and schedule. And let’s not forget the increased productivity that can come with working in a quiet, comfortable environment.
If you’re like many people, you’re now working from home due to the covid pandemic, here are some tips to help you make the most of working from home:
Make the most of working from home
1. Get organized.
Working from home can be a bit chaotic, so it’s important to get organized. Make sure you have a dedicated workspace set up, with all the supplies you need. This will help you stay focused and productive.
2. Set a schedule.
It can be tempting to just lounge around in your pajamas all day when you’re working from home. But this can actually make it harder to get work done. Instead, set a schedule for yourself and stick to it. Get up at the same time each day, take regular breaks, and so on. This will help you stay on track.
3. Stay connected.
It’s easy to feel isolated when you’re working from home. But there are plenty of ways to stay connected with your colleagues and others. Use video conferencing, chat apps, and so on to stay in touch.
4. Take care of yourself.
Working from home can be stressful, so it’s important to take care of yourself. Make sure you get enough rest, eat healthy meals, and exercise regularly. This will help you stay healthy and productive.
5. Have fun.
Working from home doesn’t have to be all work and no play. Make time for things you enjoy, such as hobbies, socializing, and so on. This will help you relieve stress and stay balanced.
So I’m sure you will agree there really is no reason not to convert your loft into a useable, modern loft office and it really can pay for itself. To find out more about our prices of loft conversions check out our loft conversion cost page. Prices are transparent and honest just like us.