Loft conversions are starting to be considered old news, and what most homeowners don't realise is that their dusty cellar or smelly basement is actually an extra room worth thousands of pounds, as well as one which can dramatically enhance you and your family's lifestyle.

The main reason basement conversions are really growing in popularity is because, unlike loft conversions, basements are normally closer to other communal areas and can be more versatile living spaces that suit modern lifestyles, not just extra bedrooms, bathrooms or studies.

Apart from the extra space for you or your family, a basement conversion can earn you a packet in additional rental income. Most simply, you could rent the converted basement to a lodger, who would then share the kitchen and bathroom with the family. Or, alternatively, you could convert the basement into a self-contained studio apartment, with its own front door if so desired. If that sounds appealing, however, you should be aware that you will need planning permission if you plan to create a separate entrance to your home.

But even if you decide not to rent out your converted basement, a simple conversion can also add on thousands to the value of your property when selling it on.

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