After several years in the same home it's quite common for people to feel that they're starting to 'outgrow' it - this can be triggered by the arrival of a new child or partner, or a change in the needs of the homeowners. For instance, it can be beneficial to have an extra room as a study to work from home, or as a hobby room if there's a budding artist or musician in the family. Alternatively, a new bedroom can be useful for guests, or let out to a lodger which will bring extra cash into the household. Loft conversions, extensions and conservatories are some popular ways to improve a property and create space without moving house or drastically altering existing rooms.

Lofts or attics are typically used for long-term storage, or even left to stand empty, in many houses. It's a waste of valuable space as a loft conversion can add several rooms to the home - often with great natural lighting from skylights or windows that are unshaded by nearby buildings. Plenty of light makes loft rooms ideal for a home office, or there's the possibility of creating a small 'studio flat' with a large bedroom/sitting-room and ensuite bathroom; even a kitchenette if the space is available.

This may be the perfect place for teenagers craving independence, and would be great for a lodger once they eventually do leave the nest. Because a loft conversion essentially takes advantage of unused space, there's little impact on the existing rooms in the house, but do bear in mind that a staircase usually needs to be added if the loft is to be used every day!

If another bedroom isn't needed and you're just looking for a little more living space downstairs, a conservatory can be a great choice - especially if there's a sunny garden to make the most of. It doesn't even need to be warm outside if the conservatory is well-insulated with cosy furnishings. This can make a beautiful dining room, playroom for children, or a studio for art and crafts, as again there'll be good natural light during the day. Many people choose to have a conservatory to provide a welcoming, relaxing space for parties or just to chill out - all it needs is a couple of sofas and a good sound system. It's also a good choice for gardeners, as delicate plants can be sheltered indoors but still benefit from the sunlight.

A third option, which can add almost any amount of space to improve an existing room - or to create a new one - is to undertake an extension. Naturally, this is only suitable for those who have unused land in a garden or driveway, and it's not always simple, as surveyors, architects and planning permission will be required. However, the actual building work can be quite quick and the cost of 'upgrading' is often much less than that of moving to a larger home.

Any of these home improvements will undoubtedly add value to the house and as such, can be viewed as sound investments for the future as well as helpful in the short term for the current residents. They can also be surprisingly affordable, especially when compared to the costs of moving out and buying a new home in the current market - and a range of secured loans is easily available to all homeowners, which can help to spread the cost of the work over an agreed repayment period.