Need more space? Changes to your lifestyle? Growing family or bigger goals?
Deciding whether to move to a new home or extend your current one, can be a tricky decision – It’s personal and depends on your situation, needs and goals.
Read on for some insight into how to make the tricky decision of choosing whether to move or extend your home.
Determine what you really want in your home
First things first. You need to determine what you really want in your home.
Do you like where you’re living? If not, why not? If it’s the suburb, surroundings or your neighbours, then you may want to consider moving.
Like your suburb, surroundings and your neighbours? Then an extension might be the preferred option for you.
Get clear on your home goals
If you’re thinking of changing your home, then it’s important you get clear on why.
What do you want to change? What are your home goals?
Let’s take a look at some home goal examples to get you thinking:
I want to add value to my house
Whilst home extensions often add value to your property, this isn’t always the case.
It pays to know the market and what buyers are willing to pay more for, so be sure to get some professional real estate advice.
I want more space
You want more space for your life changes, new hobby or growing family, but is it even possible?
Will your existing home support an extension/addition? Do you have the space to extend? Will the local council regulations allow it?
I want more functions and features
Perhaps you’d like more functionality and additional features in your home such as a separate private retreat to the second storey, another bedroom or entertaining area?
You may have the space available, but will this space really be able to accommodate the additional features or functionality you’re hoping for? Will the floor plan really work? Will the space flow and be functional, as a new space in a home should?
Consider the process
Unlike selling your home and building or buying an established home, there are no home opens, auctions, sales contracts, real estate agencies, utility transfers, settlements etc. You don’t have to pack, move, or unpack either!
Though naturally, there is still a process and some aspects you will need to consider:
Construction Disruption
It’s important to remember that when extending, your house will soon transform into a construction site.
Do you work from home now? How will you cope with the noise and distractions? How will your family feel about it? Depending on how big the extension is and to which parts of the house, you may even have to find temporary accommodation.
Time
As with anything, time is a factor too.
How much time will it take for your extension to be completed? Are your timelines or expectations reasonable? Will the builder or specialised trade you’re looking for, be available to begin and finish construction within your desired time frame?
Council Approval
Did you know that home extensions require council approval?
Yep! So, it’s crucial to check what the regulations in your area are first. Will the council allow you to do what you want to do? Do you need planning approval or approval from your neighbours?
Be sure to find out.
Calculate the costs
Extending your current home may be cheaper as you haven’t got the selling and moving costs associated with a new home but there are still costs involved. So, it’s important to calculate the costs of each option, before making your decision.
Should you decide to move, you’ll need to calculate costs such as home loans, interest, stamp duty, selling costs, legal fees, settlement fees, costs to move and more.
For an extension, here are few things to consider which will affect the cost:
- Engagement of design and building professionals
- Planning and building consent costs
- Financial applications and insurance requirements
- The type of extension you would like i.e. timber vs brick, single storey vs two storey etc
- What types of rooms/new spaces you would like to add and their layout
- Electrical, heating, plumbing and gas requirements
- The type of materials and finishes you would like
Obtain advice from a building expert
Timber Home Specialist has years of experience in home extensions and can provide the advice you need to make your decision.
At Timber Home Specialist, we specialise in timber home extensions and with our help, you can create and move into your new dream home (minus the moving truck).
Let us help you stay in your home where your children grew up, you shared those special moments with your loved ones, on the street that you love with a new timber frame extension.
Contact us to find out more today.
