As interest rates start to rise, we have found over the past few weeks, more and more clients are now looking to make the most out of their living space instead of moving.

With tight budgets due to increased fuel prices, it makes sense to heat existing areas within the home. These areas may already benefit from the warmth of the current heating system due to insufficient insulation. Modernising these areas and updating the thermal efficiency could help gain space and improve performance.

Families regularly outgrow their liveable space; therefore, adding a new room or moving is usually the best way to overcome this issue. However, building a new extension may be too costly if you’re on a budget. Fortunately, there are several inexpensive ways to add a room to your home by using existing space or constructing a less complex structure to provide extra living space.

1. Basement Conversion (start from £20,000 + vat)

A cheap way to add a room to your home is to finish off the existing space you already have. If your home contains a basement, it can easily be turned into a usable room. Finishing off existing space requires less money because the structure is already there. The walls may require framing and insulating, and flooring usually needs to be installed. Extending your electrics and plumbing may be necessary as well.

2. Attic or Loft Conversion (start from £40,000 + vat)

Converting your attic is another cost-effective way to add space to your home. Attic rooms are often used as an extra bedroom for a growing family, but you can turn yours into a home office or playroom. Converting this type of space can be more challenging than finishing off a basement because each roof structure differs. Often a-frames or roof trusses are in the way of headroom. Firstly, see if the roof space is high enough; a minimum of 2.3m should be enough. The roof area and walls will need to be heavily insulated and air allowed to flow between the roof and insulation to stop condensation forming on the roof joists, leading to rot. Adding a roof Velux style window is the easiest and most cost-effective way to add light.

3. Garage or Outbuilding (start from £10,000 + vat)

If you don’t have a basement and converting your attic isn’t possible to give you the room you want, you can convert your garage. Garage apartments are ideal for Airbnb, teenagers or dependant members of the family who need to live with you. You can also use the space as an office, hobby room, gym or playroom. The project is inexpensive because the foundation, walls, roof and wiring are already in place. But the price will depend on whether the building is attached to your home or separate. An integrated garage or building is much easier.

You’ll need to insulate the walls and extend your heating system to cover this area. The concrete floor can easily be covered with an insulated floating floor system. If you have a garage door, you can install bi-folding doors in its place or adapt the brickwork to house a window that allows natural light into the room. Plumbing work is also required if you plan to use the space as a bedroom and want to add a bathroom.

4. Adapt Conservatory (start from £10,000 + vat)

Another cost-effective option is to convert a sunroom or conservatory into a conventional room. If it has a glass roof, for a conservatory roof conversion this will be replaced with an insulated warm roof, and then any glazed sides can be filled in, leaving regular window spaces. Updating these structures is easy as the foundations, roof, heating, and electrics are already in place.