In most areas (95.5%) of Britain it would cost more to upsize to a larger home than it would to get a loft conversion in your existing home, tradesperson comparison site HaMuch.com has found.
The most expensive area to upsize rather than renovate is the City of London where the cost of moving from a two to a three-bed is an additional £2m compared to £38,000 for a loft extension.
Tarquin Purdie, founder and chief executive of HaMuch.com, said: “A loft extension or other similar renovation can not only add space to your home, but it can also add some serious value.
“Three bed homes are often the most sought after for growing families and as a result, the price difference between a two and three-bed home can take a notable step up.
“However, it may be much more cost-effect to add a third room to your existing home than it is to upsize and buy a bigger house.
“Not only will this provide you with the additional room you need, but it could also result in a much greater return if you do come to sell.”
Outside of the capital, Windsor and Maidenhead are also amongst some of the most expensive areas to upsize compared to renovation costs.