For homeowners who need additional living space, the attic often offers the most in terms of bang for your renovation buck. Since attics tend to run the length of a home, they offer enough space for multiple rooms, including home offices, home theaters, bedrooms and bathrooms.
One downside to attic renovations is that they may be expensive. For example, adding a bedroom and bathroom to an attic averages more than $50,000 [source: Remodeling Magazine]. The plus side is that there is also a high amount of payoff in terms of recouping those costs in your home's resale value –- as much as 73 percent.
As with any home remodeling projects, there are some important points to consider before you begin an attic renovation. For starters, you'll need to be sure your home is strong enough to support the added weight of additional rooms, which requires architectural expertise, according to Omar Garcia, co-founder of SOGA Construction. Additional considerations include the installation of stairs for attic access, re-routing of mechanical systems, and whether the attic has a high enough ceiling to accommodate the intended living space.
An attic addition can potentially be a do-it-yourself project if you're quite handy, particularly if you've hired an architect to draw up the plans for the project. Those with two left thumbs should hire a professional builder, at least to help with the structural elements. The last thing you need is to have your awesome new loft come crashing down into the lower levels of the house.