Is your home feeling a little crowded? Maybe it’s time for an extension!
Adding an extension is a popular choice for homeowners. Maybe your kids have grown and need more space, or you’re working from home, or you’re needing to accommodate elderly relatives.
When you’re in need of more space, you have a few options. You can sell your home and move to a bigger one, or you can add an extension.
Building an extension can be a big task. To help you decide if it’s the right next step for your home, we’ve put together this list of pros and cons of a home extension.
- More affordable: One advantage of adding an extension is that it can be cheaper than moving house. This depends on how large your extension is going to be, but in general, extending your home can be the more affordable option.
- Stay in your area: Another advantage of extending your home is that you don’t have to move away. You can stay in your suburb and community, and not have to worry about finding new schools for the kids. If you enjoy living in your neighbourhood and are reluctant to move away, then building an extension may be the better option.
- Increase space: With an extension, you can create more space in your home. Whether it’s a study nook, a place for your teenagers to chill out, or an art studio, your extension can help to make your home less crowded.
- Improve kerb appeal: Adding an extension to your home can help to improve its kerb appeal and make it more attractive. This is also helpful if you want to sell your home later.
- Increase value: When you’re renovating or extending your home, you are potentially adding value. Your home will be more comfortable to live in, more functional and more appealing to buyers.
- Overcapitalisation: One disadvantage of building an extension is that you can end up spending more money than you should. This is called overcapitalisation. If the overall cost of the renovation outweighs the value that it brings, then you’ve overcapitalised. The best way to avoid this issue is to carefully plan your extension and your budget before you start.
- Compromises: When you’re in the process of a renovation or extension project, you may have to compromise on your original idea. This could be because of constraints in building design, layout, and space. You’ll have to adjust your plans to suit these, and so may not get the final result you were hoping for.
- Disruptive: Having an extension built on your home can be disruptive to your daily life. It’s noisy and dusty, and there’ll be tradies traipsing in and out of your house all day. It can be a bit of a stressful time for your family. However, you can do simple things to relieve this like changing your work habits or moving out while the project is being completed.
Looking to start your home renovation?
At JM Homes, we ensure we always take the time to listen, communicate and act with our client’s interests at heart at every stage of the build.
If you have a renovation project in mind, we’re Brisbane’s building experts. Whether it’s a Queenslander, new build, house raise or extension, we can help you.
Contact us today.