What is an extension or loft worth in Bermuda?
These are works to a house
Extensions, lofts, garage conversions and annexes assume a property you can build on or into — a house, bungalow or cottage with its own footprint. None of them applies to a flat or an apartment, where the floor area is fixed and the fabric is shared. The £/m² basis below is the whole island's stock, flats included.
Space in City of Hamilton is asking about $14,015 per m² (10 listings there publish a floor area). Build costs below are published per-m² ranges with a 60% island premium. Neither is a quote, and value added is never the whole story — the first extension on a small house adds more than the third on a large one.
| Work | Size assumed | Likely build cost | Value that space would ask | Difference |
|---|---|---|---|---|
| Demolish and rebuild | 140 m² | $627,200 | $1,962,100 | +$1,334,900 |
| Two-storey extension | 45 m² | $158,400 | $630,675 | +$472,275 |
| Single-storey extension | 25 m² | $96,000 | $350,375 | +$254,375 |
| Annexe or outbuilding converted space, valued at 75% of the local rate |
30 m² | $100,800 | $315,338 | +$214,538 |
| Loft conversion converted space, valued at 85% of the local rate |
22 m² | $61,600 | $262,081 | +$200,481 |
| Garage conversion converted space, valued at 70% of the local rate |
16 m² | $32,000 | $156,968 | +$124,968 |
What this is doing, exactly
- Value is the local asking rate per m² multiplied by the space added — discounted for conversions, where a converted garage or loft does not fetch what new build does.
- Cost is a published per-m² range for that kind of work, adjusted for Bermuda. It excludes professional fees, planning fees, VAT or GST, and anything the drawings show that the description does not.
- Granted is this island's own record for that kind of application — 2,725 decided applications. It is not a prediction about yours.
- A positive difference is not a profit. It ignores the cost of money, the months of disruption, and the fact that a buyer pays for a house, not a spreadsheet.