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It’s difficult to get away from the fact the UK is going through a period of economic downturn at the moment and everywhere you look there seems to be reminders that people are trying to save money and cut costs.

The housing market is one of the areas that have been affected by the country’s financial difficulties and at the moment a lot of people – especially first-time buyers – are struggling to get a mortgage because banks aren’t willing to lend. This means homeowners need to think carefully about whether they can really afford to move, or whether it would actually be better to stay put.

If you’re someone that decides to stay where you are, there are lots of things you can do to improve your home. Not only will this make it a better place for you to live, but you could find you’re able to boost how much it’s worth if you come to sell it in the future.

But what are the best ways to improve a property? Well, if you’re looking for a versatile improvement that will not involve constructing a complete extension then why not go for a loft conversion? There are loads of different uses for a loft, so here are just a few ideas of what you can do.

1. A luxurious bathroom
If possible, it’s a good idea to fit a shower in a loft bathroom, because these are usually popular among potential buyers. But you might find the ceiling is too low, so instead go for a luxurious, spa-like feel with a free-standing bath in the centre of the room. This looks fancy and gives a really special feel to a home, especially to parents who will want somewhere to relax and get away from their stresses.

Lay large tiles or painted wood for flooring instead of carpet, and you’ll need to shop around for some good storage solutions. Anything too big will make the space seem cramped because of the slope of the roof, so be inventive and look for cupboards that double as a washbasin or a mirror.

2. A bedroom
The steepness of your roof will determine exactly what you can do with it. If you have a particularly steep roof you might be able to get a mezzanine floor in, as well as the main area of a master bedroom. Make the space light and airy by adding roof windows to let the sun come flooding in.

A master bedroom in the loft will be very impressive to potential buyers, while it will also give you a very personal space that you can turn into a kid-free zone and retreat to whenever you need some peace and quiet from the rest of the household. Plus, the exposed roof beams of a house will look stunning with a large cast iron bed positioned centrally underneath them.

You could even turn your loft into a bedroom with an en suite, but this could be pricey so make sure you thoroughly research the idea first.

3. A study
If you work from home a lot, turning your loft into a study is the perfect way to get some peace and quiet when you’re busy. Plus, it gives you a separate part of the house to work in, so you can keep business and the rest of your personal life separate.

Usually, home offices don’t need to be particularly big, especially if there’s only one person working in them, so consider a partial loft conversion as this will save you money and still leave you with some storage space in your roof.

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Peter Tucker is a freelance writer specialising in building works such as garage conversions and loft conversions.