Home Extensions: Is it Worth Extending Your Newcastle Lake Macquarie Home?
21 November 2022People in Newcastle Lake Macquarie typically consider enhancing their outdoor living spaces, fixing things around the house, or adding new rendering or wall painting when they think about increasing the value of their homes. A home addition is one of the most effective methods to increase the value of a home, yet it is sometimes overlooked. We think home additions are undervalued yet offer the best value for money in terms of practical advantages. Here is a summary of a few ways home additions might increase the value of your house.
The More, The Better
Because more is better, it goes without saying that an addition to your home would increase its worth. The advantage in this situation is obvious: a house with five rooms will be worth more than a house with three. A home with additional bedrooms, living spaces, or even a man cave will always appeal to those wanting to buy or rent, regardless of whether you intend to sell or rent the property. Consequently, this presents the ideal chance for homeowners to maximise the market worth of their property and thereby improve the monetary value of their home. While you enjoy living in a bigger home, you also benefit from your investment if and when you decide to sell or rent it out.
You Can Modernise Your Home
Modernising your home is another advantage of a home addition. Customers may choose a home addition followed by an interior remodel. They may now give their home’s interior a fresh makeover and add more living space as a result. You can continue to reside in the same home where you made lifelong memories with friends and family by moving into a new home without leaving the old one.
You Have The Freedom to Design
The ability to completely customise the design of the new portion of your home is one of the biggest advantages, if not the main one. When you expand your home, you have limitless creative freedom and power inside your owned portion of the land, unlike when you purchase a new house, which was planned by someone else. If you want one, the greatest method to get your dream home is to design it yourself instead of hoping to locate one because every other house is made to the tastes of its previous owners.
It Is More Cost-effectiveness
The typical price range for an addition to your home (such as a second-storey addition) is between $170,000 and $270,000. This statistic demonstrates that expanding your current home is more cost-effective than selling it and buying a new one. Consider all the costs involved in selling your home and buying a new one, such as real estate commissions, inspections, and other ancillary costs. In addition, there are moving expenses once you have purchased the home you wish to move into. These expenses are not only monetary; they also consider the possibility that you will need to take time off work to set up your new home, which could result in a reduction in earnings. In contrast, adding a building permit and a few inspections is costly when you are extending. To avoid any surprises at the end, Nathan Brown Building ensures that all prices are disclosed to our clients.
So if you are now convinced that a home extension is indeed worth the investment, you can contact our expert team at Nathan Brown Building. We are residential and commercial renovations, construction, and building services contractors in Newcastle Lake Macquarie. We can help you with your home addition project and promise to provide only the best services. Feel free to Call Us at 0422 622 264 or simply fill out our Enquiry Form.
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