Home extensions are the perfect solution for homeowners with extra land (property square meterage) who would like to increase the living space in their homes but do not want to move. Home extensions have the potential to increase the value of your home, as well as contribute positively to you and your family’s quality of life.
This article will explore what a home extension is and some of the most significant benefits. We will also provide some valuable tips (and cautions) regarding helping you determine if this kind of project construction work is right for you.
Table of Content
🤔What Is an extension?
A home extension involves increasing the living space of your home by building out from the existing square meterage. That means that you’re building onto an existing floor or home level and will more than likely give up some of your backyard.
This will almost always be a ground-level project (although you can build a two-story extension if you already have a second story on your home) and will extend the foundation of your home.
One thing that a house extension is not is a home addition. Generally speaking, an addition means keeping your home’s existing house footprint and raising the roof, such as a first-floor addition or second-storey addition. However, most home renovations do not involve increasing your overall square meterage, as home extensions do
🏡Benefits of a House Extension
There are many terrific benefits of a house extension. Let’s look at just a few:
- Expand your living space and your home’s square meterage: add an entertainment room or more bedrooms as your family expands.
- Increase the overall value of your home, which is especially important if you plan to sell eventually
- You are getting to stay in your current home and neighbourhood rather than moving. You will also avoid all of the headaches and hassles that come with listing, open houses, and selling your own home and then packing up and moving.
- The opportunity to rethink the layout of your entire home
- Usually, you can stay in your home during construction
- Customisation: you can decide on what the new space will look like and what it will be used for
- Less yard space to take care of
- Save money by not moving
💲 Costs of Home Extensions
The cost will vary greatly depending on where you live, the size of your extension, the complexity of the project, and more. However, well-constructed house extensions cost at least several thousand dollars.
It can be helpful to think of this money as an investment rather than an expense, though. The extension has the potential to increase the value of your home even beyond what it costs to build it.
In addition, many of our customers use their existing home equity to grab a fantastic low-interest loan to cover the project’s costs. Some customer even rolls the costs into refinancing their entire mortgage. Today, there are many options for a construction loan, SO talk to your mortgage lender or local bank to find out more.
If you want to know more about construction loans, please see an unbiased umpire in Canstar who will give you a heads up on the dos and don’ts of a construction loan.
👷How to Find a House Extension Builder
A house extension is a significant undertaking; therefore, it is essential to research extension builders to find the right one for your particular project.
An Internet search is the fastest way to start to compile a list of potential extension builders in your town or city. You can read online reviews from past jobs. Also, ask your friends and neighbours who have had extensions added to their homes about their experiences, good or bad.
At a minimum, you will want to make sure that whomever you hire is fully licensed to do this type of work and carries good insurance. As a piece of mind, the Queensland and NSW government legislate that ALL building construction work above $3,300 for QLD and $25,000 for NSW has a homeowner warranty.
You have probably heard nightmare stories about delays in construction projects. Typically, though, these are not due to sloppiness or negligence of the builder but legitimately unexpected occurrences. Everything from discovering termites to an odd construction element that isn’t up to today’s code to lousy weather can ALL derail a carefully planned construction schedule.
In addition, your home is going to become a construction zone. There will be contractors and their staff on your property, and the space connecting your home to the extension will likely be inaccessible for at least part of the project’s timeframe. It is best to choose a time of the year when your family has a more flexible schedule or might be able to travel or stay with friends or family.
All that said, the benefits of extending your home far outweigh any inconveniences in the building process. By developing your existing residence, you gain that valued piece of mind that your lifestyle will not be impeded by those teenage years as your family grows.
You may be interested in reading further on What’s the difference between Home additions and home extensions? A great article worth a 7-minute read 🙂