Most attic remodeling projects will add living space to your home for much less money than an expansion or addition. However, there are a few basic considerations, which apply to any attic improvement, which you should keep in mind.
First of all, insulation and venting have to be properly done, in combination with bringing heating and cooling into the new space. It will be harder to keep attic space comfortable, than it will the rest of the house, due to the more direct exposure to the weather.
Secondly, the house should be "double-wide". This means that there should be 2 rooms below the attic (not one) running perpendicular to the ridge line of the roof. If this is the case you will have enough width to create ample living space without having the expense of dormers.
Dormers will more than triple the cost of converting attic space to living space. Therefore, if you only have a "single-wide" house, you might consider improving the basement instead.
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You need a minimum of 7 feet in clear ceiling height for the space to be comfortable. Narrow homes don't allow that height except for a corridor-wide space along the center of the house.
Access to the new space should also be looked at. Where will the access be and how much space will it absorb from your existing living space? You don't want access to go through someone's existing bedroom. Chances are you'll have to build a staircase to reach the new room.
Be practical about the layout and method of access. A ceiling hatch or pull-down ladder won't do. A spiral stair will take up less space than a conventional stair, but you will have a problem moving furniture up there. The minimum width for a stair should be 36 inches.
When attic remodeling, light can easily be brought into the new space by using windows and skylights. This makes the attic a good location when looking to add a spare bedroom, bathroom, craft room, master suite, or home office.
See this video about having the proper joists in your floor.
Just a quick word of caution regarding skylights - I recommend getting a non-operating skylight with adjustable shades. I've had operating skylights with screens.
They get opened at night and various creatures walk across your roof while you're asleep. The screens don't hold the weight of an average raccoon and you could have an uninvited overnight guest (like I did). Not a happy time.
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