During the pandemic most people spent a lot of time at home contemplating what they would like to do with their houses. Being stuck in the same full walls for months on end can really make you reevaluate how you use your house. Since then, it’s unfortunate that the price of materials has really skyrocketed, because most people are choosing to create extensions rather than buy their own property.
Because we live in a world where money is needed to survive, Latte Lindsay runs a number of affiliate programmes and offers contributed or partnered content. If you choose to click the links and read the posts, the site may earn a commission or receives a payment. All of the opinions are my own. Opinions expressed here are the author’s alone, not those of any partner brands/company(s), beauty & lifestyle brands, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities unless specified.
A second story addition to a house can make a big difference to the look of the house, the overall value and how you utilize your space. If all the time you spent at home has convinced you that your home is too small for your needs, then we’ve got some of the reasons that you should extend it rather than choose to set up and buy somewhere else. It doesn’t have to be too deep, it’s just a case of looking at the world the way it is right this moment and deciding what you can afford.
Selling
Selling your house may not be the easiest option. It’s a tight market right now and the inflation rates have meant that house prices have skyrocketed. While that means you may be able to get a big return for your money, it might take longer to sell it especially if you are in any kind of a chain. If you sell your current property, you are then in the position of the buyer where you will be dealing with over inflated house prices and trying to move. It may not make financial sense to sell right now to save your space problems.
Cost
You can save on the cost of buying and selling. It’s not cheap to sell a property nor is it cheap to buy one. On one hand you have real estate agent and conveyancing fees and on the other you have stamp duty and conveyancing fees, basically fees coming out of your ears! These costs can extend into 10s of thousands of dollars, and if you create an addition to your home rather than buy a new one, you won’t have those costs.
Space
You can personalize the space. When you choose to extend the home in addition, you’ll be able to personalize the space. You can choose how big it will be and what it will be used for, you can determine if you go under your house with a new basement or above your house with a new story. You can even add an addition to your home on the sides. Either way, you get to dictate the floor plan which is part of the whole reason people extend in the first place.
Value
You can increase the value of your home. With a home extension that has been well designed, you can add significant value to your house. You’ll be able to build on the foundations of your home and you’ll be able to get the best quality design if you do it this way. This will help you to elevate the value and that is exactly what you should be looking for.