With the global economy still in turmoil, home improvement has seen a boost and loft conversions are very popular as they are an easy way to add an extra room to the existing property, without too much disruption. Read on to discover the five top reasons why you should look at doing loft conversions in London this year

VAT is set to increase by 2.5%, from 17.5% to 20% in January 2011. This will add an additional 2.5% cost to any building materials, labour and services as of the New Year. This may sound quite insignificant, but when a project runs into the thousands, every last penny counts, and that 2.5% saving could be the difference of affording that quality finish or not.

This is also a great time of year to start hiring contractors, as they typically experience a slow down in winter months, so should have more availability to take on and complete your project. As most project managers agree, the biggest part of most projects is the coordination of tradesmen, which is always based on their availability. Get one-step ahead of the game by taking advantage of the slow time of year to get your project off the ground and completed on time.

Good quality loft conversions always add to the value of a property, but as the property market begins to pick up, the good tidings will soon again turn in favour of the buyer. An early completion of your loft conversion will have your property on the market and ready to sell before the crowds enter back into the market and force your great new valuation, back down again. Delays now will only cost you when the market picks up again in the New Year.

The new government are making cuts left, right and centre, but there are still grants available for loft insulation, which is necessary for a good quality loft conversion. Local government offer schemes for energy efficiency, which are worth investigating, and most have a separate scheme for heavily discounted (and sometimes entirely free) insulation for pensioners. By starting the work now, you can take advantage of the existing grants, before they too are swallowed up and you have to foot the bill for the insulation too.

Interest rates are still at an all time low, so whether you are a saver or a borrower, now is a good time to spend money. Leaving cash stagnant in a savings account does not make any sense right now; why not invest in your property for some real return. The same is true of borrowing, there has never been a better time to get a loan and the rates are only set to go higher, which will push the cost of a loft conversion in London, through the roof!

Learn more about loft conversions in London. Stop by Gazmen Neza’s site where you can find out all about loft conversions, see galleries of photos, learn about what building regulations you need to follow and obtain no obligation estimates from the Loft Conversions Experts