Many of us build our dream home with a view to staying there forever. It’s our castle, full of wonderful memories, the neighbourhood is great and the location is convenient.
Needless to say, circumstances change for many reasons such as family dynamics and/or your lifestyle requirements change. The problem is your home no longer fits, therefore you have two options:
- Sell the family home
- Or, extend your current home to fit your needs
If you love where you are, why put yourself through the upheaval of moving, not to mention the expense of selling and buying property, i.e. agents fees, legal fees and stamp duty – these costs can really add up.
Land prices are increasing; however, block sizes are decreasing with the average now only 428sqm. Therefore, many homeowners are realising that investing in their current home is a cost-effective option. The benefits are two-fold, they are adding capital value to their property, whilst improving their lifestyle and liveability.
It is also important at this point to differentiate between a home renovation and an extension. A renovation is an improvement to the existing structure, e.g. kitchen revamp. Whereas an ‘extension’ is an addition to the existing structure, increasing the floor area of your home, e.g. an extra bedroom or an extension to your living area.
A homeowner planning to sell in the future, should ensure their home compares well with other homes in the area in relation to market expectation. The floorplan is a major consideration, i.e. number of bedrooms, living/breakout areas and inclusion of a study/home office. Adding that extra floor area can add $100,000 plus to the value of your home – not to mention increasing the reach of potential buyers and a successful sales result!
In conclusion, extending your home is a great option, but it is paramount that you select a reliable quality builder who specialises in this area of construction; designing an extension that tones in with your existing home and avoids the dreaded ‘add-on’ look.
Here at JPM Building and Design, home extensions are our speciality and we pride ourselves in providing superior quality workmanship, whilst ensuring the build experience is simple and enjoyable for our clients. Contact us today to discuss your ideas and requirements. We guarantee the result will add value to your home and your lifestyle too!